Penn Capital Management Company LLC Grows Holdings in Harrow, Inc. $HROW

Penn Capital Management Company LLC boosted its stake in Harrow, Inc. (NASDAQ:HROW) by 20.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 392,067 shares of the company’s stock after purchasing an additional 66,589 shares during the quarter. Harrow makes up 1.5% of Penn Capital Management Company LLC’s portfolio, making the stock its 10th biggest holding. Penn Capital Management Company LLC’s holdings in Harrow were worth $19,257,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in Harrow in the second quarter valued at $48,000. SBI Securities Co. Ltd. boosted its holdings in Harrow by 393.5% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,061 shares of the company’s stock valued at $52,000 after acquiring an additional 846 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Harrow by 25.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,800 shares of the company’s stock valued at $88,000 after acquiring an additional 369 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Harrow by 345.0% in the second quarter. Tower Research Capital LLC TRC now owns 3,373 shares of the company’s stock valued at $103,000 after acquiring an additional 2,615 shares in the last quarter. Finally, Larson Financial Group LLC boosted its holdings in Harrow by 848.2% in the third quarter. Larson Financial Group LLC now owns 2,162 shares of the company’s stock valued at $104,000 after acquiring an additional 1,934 shares in the last quarter. Institutional investors own 72.76% of the company’s stock.

Harrow Stock Performance

Shares of HROW stock opened at $34.17 on Wednesday. Harrow, Inc. has a 12 month low of $25.53 and a 12 month high of $54.85. The stock has a market cap of $1.27 billion, a PE ratio of -83.34 and a beta of 0.34. The company has a current ratio of 2.48, a quick ratio of 2.30 and a debt-to-equity ratio of 10.30. The company’s fifty day moving average price is $36.02 and its 200-day moving average price is $41.94.

Harrow (NASDAQ:HROW) last announced its earnings results on Monday, May 11th. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.31). Harrow had a negative net margin of 5.57% and a positive return on equity of 19.59%. The business had revenue of $44.20 million for the quarter, compared to the consensus estimate of $52.43 million. During the same quarter last year, the firm posted ($0.38) EPS. On average, equities analysts expect that Harrow, Inc. will post 0.29 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $70.00 price target on shares of Harrow in a report on Thursday, March 19th. Weiss Ratings cut shares of Harrow from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, April 22nd. BTIG Research reiterated a “buy” rating and issued a $63.00 price target on shares of Harrow in a report on Tuesday, May 12th. Wall Street Zen cut shares of Harrow from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, B. Riley Financial restated a “buy” rating and set a $65.00 target price (down from $74.00) on shares of Harrow in a report on Tuesday, April 7th. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.43.

Insiders Place Their Bets

In other Harrow news, Director Adrienne L. Graves bought 1,000 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were purchased at an average price of $31.07 per share, for a total transaction of $31,070.00. Following the acquisition, the director owned 1,000 shares in the company, valued at approximately $31,070. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Andrew R. Boll bought 3,500 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were acquired at an average price of $29.90 per share, for a total transaction of $104,650.00. Following the acquisition, the chief financial officer owned 814,679 shares in the company, valued at approximately $24,358,902.10. This represents a 0.43% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 12.80% of the company’s stock.

About Harrow

Harrow Health, Inc (NASDAQ: HROW) is a U.S.-based commercial-stage biopharmaceutical company specializing in ophthalmic therapeutics and diagnostics. The company focuses on the development, manufacturing and distribution of proprietary, generic and branded eye care products designed to treat a range of ocular conditions, including glaucoma, ocular hypertension, dry eye disease and other anterior segment disorders.

Through its wholly owned affiliate ImprimisRx, Harrow Health offers a direct-to-physician model for customized formulations as well as low-cost generic alternatives.