Harrow, Inc. $HROW Shares Acquired by Luxor Capital Group LP

Luxor Capital Group LP boosted its stake in Harrow, Inc. (NASDAQ:HROW) by 22.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,119,400 shares of the company’s stock after purchasing an additional 201,859 shares during the period. Harrow comprises about 2.8% of Luxor Capital Group LP’s holdings, making the stock its 9th largest holding. Luxor Capital Group LP owned about 3.00% of Harrow worth $39,470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in HROW. Penn Capital Management Company LLC increased its holdings in shares of Harrow by 20.5% during the fourth quarter. Penn Capital Management Company LLC now owns 392,067 shares of the company’s stock worth $19,257,000 after buying an additional 66,589 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Harrow by 807.4% during the 4th quarter. State of Alaska Department of Revenue now owns 15,807 shares of the company’s stock valued at $774,000 after acquiring an additional 14,065 shares in the last quarter. Jefferson Bridge Capital LLC bought a new stake in Harrow during the 4th quarter worth $2,587,000. Rice Hall James & Associates LLC grew its position in Harrow by 8.5% during the 4th quarter. Rice Hall James & Associates LLC now owns 361,998 shares of the company’s stock worth $17,738,000 after acquiring an additional 28,303 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Harrow by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 1,921,683 shares of the company’s stock worth $94,162,000 after purchasing an additional 50,889 shares in the last quarter. Institutional investors and hedge funds own 72.76% of the company’s stock.

Analyst Upgrades and Downgrades

HROW has been the subject of several research reports. BTIG Research reiterated a “buy” rating and issued a $63.00 target price on shares of Harrow in a research report on Tuesday, July 21st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Harrow in a research note on Monday, July 20th. Wall Street Zen lowered shares of Harrow from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. B. Riley Financial reiterated a “buy” rating and set a $65.00 target price (down from $74.00) on shares of Harrow in a research report on Tuesday, April 7th. Finally, Zacks Research raised shares of Harrow from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $69.43.

Harrow Stock Down 8.2%

Shares of NASDAQ:HROW opened at $38.45 on Friday. The firm has a market cap of $1.43 billion, a P/E ratio of -93.78 and a beta of 0.26. Harrow, Inc. has a 12-month low of $28.54 and a 12-month high of $54.85. The business has a fifty day simple moving average of $39.11 and a 200 day simple moving average of $40.86. The company has a quick ratio of 2.30, a current ratio of 2.48 and a debt-to-equity ratio of 10.30.

Harrow (NASDAQ:HROW) last released its quarterly 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 company had revenue of $44.20 million during the quarter, compared to the consensus estimate of $52.43 million. During the same quarter last year, the firm posted ($0.38) EPS. Analysts predict that Harrow, Inc. will post 0.29 earnings per share for the current year.

Insider Activity at Harrow

In other news, CFO Andrew R. Boll purchased 3,500 shares of the stock in a transaction on Thursday, May 14th. The stock was purchased 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 $24,358,902.10. This trade represents a 0.43% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Adrienne L. Graves purchased 1,000 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was purchased at an average price of $31.07 per share, for a total transaction of $31,070.00. Following the transaction, the director directly owned 1,000 shares in the company, valued at approximately $31,070. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate 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.