Northern Trust Corp cut its holdings in Horizon Global Corp (NYSE:HZN) by 73.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 75,160 shares of the company’s stock after selling 208,545 shares during the period. Northern Trust Corp’s holdings in Horizon Global were worth $449,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. LMR Partners LLP acquired a new position in Horizon Global in the second quarter valued at approximately $447,000. Segall Bryant & Hamill LLC lifted its holdings in Horizon Global by 64.5% in the second quarter. Segall Bryant & Hamill LLC now owns 82,851 shares of the company’s stock valued at $494,000 after acquiring an additional 32,487 shares during the last quarter. Paloma Partners Management Co acquired a new position in Horizon Global in the second quarter valued at approximately $684,000. Bank of America Corp DE lifted its holdings in Horizon Global by 14.8% in the second quarter. Bank of America Corp DE now owns 130,334 shares of the company’s stock valued at $777,000 after acquiring an additional 16,836 shares during the last quarter. Finally, Weber Alan W lifted its holdings in Horizon Global by 46.2% in the second quarter. Weber Alan W now owns 229,570 shares of the company’s stock valued at $1,368,000 after acquiring an additional 72,500 shares during the last quarter. Hedge funds and other institutional investors own 74.94% of the company’s stock.
HZN opened at $1.72 on Friday. Horizon Global Corp has a one year low of $1.62 and a one year high of $14.80. The company has a debt-to-equity ratio of 20.60, a current ratio of 1.80 and a quick ratio of 0.90.
Horizon Global (NYSE:HZN) last released its quarterly earnings data on Thursday, November 8th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.20). Horizon Global had a negative net margin of 20.37% and a negative return on equity of 2.41%. The business had revenue of $227.80 million during the quarter, compared to analyst estimates of $239.28 million. During the same quarter in the prior year, the company posted $0.38 earnings per share. The company’s revenue was down 5.1% on a year-over-year basis. On average, analysts anticipate that Horizon Global Corp will post -0.23 earnings per share for the current year.
In other news, General Counsel Jay Goldbaum purchased 20,220 shares of the firm’s stock in a transaction on Friday, November 9th. The shares were bought at an average cost of $2.76 per share, for a total transaction of $55,807.20. Following the completion of the purchase, the general counsel now directly owns 46,464 shares of the company’s stock, valued at $128,240.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Denise Ilitch purchased 20,000 shares of the firm’s stock in a transaction on Monday, November 12th. The shares were purchased at an average price of $2.26 per share, for a total transaction of $45,200.00. Following the completion of the purchase, the director now directly owns 32,827 shares of the company’s stock, valued at $74,189.02. The disclosure for this purchase can be found here. Insiders have acquired 67,220 shares of company stock worth $171,037 over the last 90 days. 1.90% of the stock is owned by insiders.
A number of research firms recently commented on HZN. Zacks Investment Research cut Horizon Global from a “hold” rating to a “strong sell” rating in a report on Saturday, November 10th. ValuEngine cut Horizon Global from a “hold” rating to a “sell” rating in a report on Thursday, November 8th. Finally, B. Riley cut Horizon Global from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $10.50 to $3.00 in a report on Friday, November 9th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $11.71.
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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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