Royal Bank of Canada Raises Position in Horizon Global Corporation (HZN)
Royal Bank of Canada boosted its stake in Horizon Global Corporation (NYSE:HZN) by 5.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 912,066 shares of the company’s stock after buying an additional 44,671 shares during the quarter. Royal Bank of Canada owned approximately 3.66% of Horizon Global Corporation worth $13,097,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Northpointe Capital LLC lifted its stake in Horizon Global Corporation by 45.7% in the 2nd quarter. Northpointe Capital LLC now owns 1,164,249 shares of the company’s stock worth $16,719,000 after purchasing an additional 365,171 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Horizon Global Corporation by 26.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,010,260 shares of the company’s stock worth $14,022,000 after purchasing an additional 208,508 shares in the last quarter. Vanguard Group Inc. lifted its stake in Horizon Global Corporation by 6.2% in the 2nd quarter. Vanguard Group Inc. now owns 942,857 shares of the company’s stock worth $13,539,000 after purchasing an additional 55,411 shares in the last quarter. GW&K Investment Management LLC lifted its stake in Horizon Global Corporation by 19.6% in the 2nd quarter. GW&K Investment Management LLC now owns 677,086 shares of the company’s stock worth $9,723,000 after purchasing an additional 110,959 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Horizon Global Corporation by 5.5% in the 1st quarter. Renaissance Technologies LLC now owns 545,300 shares of the company’s stock worth $7,569,000 after purchasing an additional 28,200 shares in the last quarter. 94.02% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO A Mark Zeffiro sold 17,130 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $16.45, for a total transaction of $281,788.50. Following the transaction, the chief executive officer now owns 238,284 shares of the company’s stock, valued at $3,919,771.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.27% of the company’s stock.
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Shares of Horizon Global Corporation (NYSE HZN) opened at 17.13 on Friday. The firm’s market cap is $427.15 million. The stock’s 50 day moving average is $17.32 and its 200-day moving average is $17.32. Horizon Global Corporation has a one year low of $15.67 and a one year high of $26.36.
Horizon Global Corporation (NYSE:HZN) last announced its quarterly earnings data on Tuesday, August 1st. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.17. The business had revenue of $253.60 million for the quarter, compared to the consensus estimate of $241.08 million. Horizon Global Corporation had a negative net margin of 1.45% and a positive return on equity of 18.86%. The business’s revenue was up 51.1% compared to the same quarter last year. Analysts anticipate that Horizon Global Corporation will post $1.09 EPS for the current fiscal year.
HZN has been the topic of a number of research reports. Bank of America Corporation lowered shares of Horizon Global Corporation from a “neutral” rating to an “underperform” rating in a research note on Tuesday, September 5th. Zacks Investment Research raised shares of Horizon Global Corporation from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Wednesday, July 12th. BMO Capital Markets reissued a “buy” rating and issued a $18.00 target price on shares of Horizon Global Corporation in a research note on Thursday, July 13th. BidaskClub lowered shares of Horizon Global Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Roth Capital set a $22.00 target price on shares of Horizon Global Corporation and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Horizon Global Corporation presently has a consensus rating of “Hold” and an average target price of $19.83.
Horizon Global Corporation Company Profile
Horizon Global Corporation is a designer, manufacturer and distributor of a range of custom-engineered towing, trailering, cargo management and other products serving the automotive aftermarket, retail and original equipment (OE) channels. The Company operates through three segments: Horizon Americas, Horizon Asia-Pacific, and Horizon Europe-Africa.
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