Paloma Partners Management Co purchased a new stake in shares of Horizon Global Corp (NYSE:HZN) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 114,699 shares of the company’s stock, valued at approximately $684,000. Paloma Partners Management Co owned approximately 0.46% of Horizon Global as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the company. Shepherd Kaplan Krochuk LLC bought a new stake in Horizon Global in the first quarter worth $297,000. Dynamic Technology Lab Private Ltd boosted its holdings in Horizon Global by 168.1% in the first quarter. Dynamic Technology Lab Private Ltd now owns 46,322 shares of the company’s stock worth $382,000 after purchasing an additional 29,042 shares in the last quarter. Segall Bryant & Hamill LLC bought a new stake in Horizon Global in the first quarter worth $415,000. GSA Capital Partners LLP bought a new stake in Horizon Global in the first quarter worth $460,000. Finally, LMR Partners LLP bought a new stake in Horizon Global in the second quarter worth $447,000. Institutional investors and hedge funds own 73.65% of the company’s stock.
HZN stock traded up $0.20 during midday trading on Friday, reaching $6.96. The company’s stock had a trading volume of 212,559 shares, compared to its average volume of 378,343. Horizon Global Corp has a 52 week low of $5.13 and a 52 week high of $17.78. The stock has a market cap of $178.93 million, a PE ratio of 7.10, a PEG ratio of 14.89 and a beta of 0.92. The company has a debt-to-equity ratio of 20.60, a quick ratio of 0.80 and a current ratio of 1.59.
Horizon Global (NYSE:HZN) last announced its quarterly earnings data on Tuesday, August 7th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.15. Horizon Global had a negative net margin of 15.61% and a positive return on equity of 8.57%. The firm had revenue of $233.34 million for the quarter, compared to analysts’ expectations of $232.85 million. As a group, sell-side analysts predict that Horizon Global Corp will post 0.18 earnings per share for the current fiscal year.
A number of equities research analysts recently issued reports on the stock. Roth Capital upgraded shares of Horizon Global from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $6.00 to $13.00 in a report on Wednesday, August 8th. Zacks Investment Research upgraded shares of Horizon Global from a “sell” rating to a “hold” rating in a report on Thursday, August 9th. Bank of America lowered shares of Horizon Global from a “buy” rating to an “underperform” rating and cut their price objective for the company from $10.00 to $5.00 in a research report on Friday, June 22nd. ValuEngine raised shares of Horizon Global from a “sell” rating to a “hold” rating in a research report on Tuesday, July 3rd. Finally, B. Riley cut their price objective on shares of Horizon Global from $12.50 to $10.50 and set a “buy” rating for the company in a research report on Monday, June 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $12.79.
About Horizon Global
Horizon Global Corporation designs, manufactures, and distributes a range of towing, trailering, cargo management, and other related accessory products to the automotive aftermarket, retail, and original equipment channels worldwide. It operates through three segments: Horizon Americas, Horizon Asia-Pacific, and Horizon Europe-Africa.
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