Skylands Capital LLC Reduces Position in Horizon Global Corporation (HZN)

Paterniano Del Favero
Agosto 12, 2017

Capital Fund Management S.A. purchased a new stake in Horizon Global Corporation during the first quarter worth $149,000.

Shares of the company are trading at $18.63 which is just a bit higher than $14.90, the 50 day moving average and which is a tad above the 200 day moving average of $15.41. Skylands Capital LLC owned 0.23% of Horizon Global Corporation worth $831,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Nationwide Fund Advisors increased its stake in shares of Horizon Global Corporation by 253.2% in the first quarter. Icon Advisers Inc. Co. acquired a new position in shares of Horizon Global Corporation during the first quarter worth $511,000. Boston Partners purchased a new stake in Horizon Global Corporation during the first quarter worth $5,249,000.

As of the end of the quarter Tiaa Cref Investment Management LLC had acquired 15,937 shares growing its position 30.3%. Finally, American International Group Inc. increased its stake in Horizon Global Corporation by 25.7% in the first quarter. The company reported $0.84 earnings per share for the quarter, beating the Zacks' consensus estimate of $0.67 by $0.17.

Hedge funds and other institutional investors own 92.34% of the company's stock.

Stocks of Horizon Global Corporation (NYSE:HZN) transacted up 0.33% through out intraday market trading on Early Thur, reaching $17.99. The value of the total investment in Horizon Global Corporation increased from $513,000 to $639,000 a change of $126,000 for the reporting period.

The firm has a 50 day moving average of $15.02 and a 200-day moving average of $15.42. In the latest earnings report the EPS was $-0.52 and is estimated to be $1.09 for the current year with 24,936,000 shares presently outstanding.

Horizon Global Corporation, launched on January 14, 2015, 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 firm's quarterly revenue was up 51.1% compared to the same quarter past year.

03/13/2017 - Horizon Global Corporation had its "outperform" rating reiterated by analysts at Barrington Research. Bank of America Corporation initiated coverage on Horizon Global Corporation in a research note on Tuesday, March 14th.

Horizon Global Corporation announced that its board has approved a share buyback plan on Wednesday, May 3rd that permits the company to repurchase 1,500,000 shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.

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A number of research firms have weighed in on HZN. TheStreet upgraded shares of Horizon Global Corporation from a "d" rating to a "c-" rating in a research report on Friday, May 26th. BidaskClub lowered shares of Horizon Global Corporation from a "hold" rating to a "sell" rating in a research report on Thursday, July 27th. Roth Capital set a $22.00 price target on shares of Horizon Global Corporation and gave the company a "buy" rating in a report on Wednesday, August 2nd. 1 investment expert has recommended the share with a sell recommendation, around three has issued a hold recommendation, four have issued a buy recommendation and 1 has released a strong buy recommendation to the firms shares. The corporation has a average recommendation of "Buy" and an average price objective of $20.29.

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