Horizon Group (OTCMKTS:HGPI) Stock Price Up 8% – Time to Buy?

Shares of Horizon Group (OTCMKTS:HGPI) rose 8% during trading on Thursday. The company traded as high as $2.70 and last traded at $2.70. Approximately 1,790 shares traded hands during mid-day trading, an increase of 894,900% from the average daily volume of 0 shares. The stock had previously closed at $2.50.

Horizon Group Stock Performance

The company has a fifty day moving average price of $2.51 and a two-hundred day moving average price of $2.25.

Institutional Investors Weigh In On Horizon Group

A hedge fund recently bought a new stake in Horizon Group stock. Ameritas Advisory Services LLC acquired a new stake in Horizon Group (OTCMKTS:HGPI) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 247,649 shares of the company’s stock, valued at approximately $8,205,000. Ameritas Advisory Services LLC owned approximately 2.57% of Horizon Group as of its most recent filing with the SEC.

About Horizon Group

Horizon Group, formerly known as Horizon Group Properties, Inc, was a U.S.-based real estate company focused on the ownership, development and operation of retail properties. Its portfolio historically included factory outlet centers and other shopping centers serving national, regional and local retailers.

The company’s activities included leasing retail space, managing shopping-center properties and pursuing retail real estate development and redevelopment opportunities. Its properties were located primarily in the United States, with a focus on consumer-oriented locations that attracted shoppers from surrounding communities and highway travel corridors.

Public information about Horizon Group and its current operating structure is limited.