First Manhattan Co. reduced its position in Horizon Global Corp (NYSE:HZN) by 16.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 791,785 shares of the company’s stock after selling 156,310 shares during the period. First Manhattan Co. owned about 3.14% of Horizon Global worth $1,536,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. California Public Employees Retirement System grew its stake in shares of Horizon Global by 12.7% during the 4th quarter. California Public Employees Retirement System now owns 146,881 shares of the company’s stock valued at $210,000 after buying an additional 16,521 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Horizon Global during the 4th quarter valued at $104,000. Prescott Group Capital Management L.L.C. purchased a new stake in shares of Horizon Global during the 4th quarter valued at $177,000. Finally, Royce & Associates LP purchased a new stake in shares of Horizon Global during the 4th quarter valued at $1,538,000. 53.38% of the stock is owned by hedge funds and other institutional investors.
NYSE:HZN opened at $2.69 on Wednesday. Horizon Global Corp has a twelve month low of $1.34 and a twelve month high of $8.53.
Several analysts have recently issued reports on the stock. ValuEngine raised shares of Horizon Global from a “hold” rating to a “buy” rating in a research note on Monday, April 1st. Zacks Investment Research cut shares of Horizon Global from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 2nd. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $7.25.
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Horizon Global Company Profile
Horizon Global Corporation designs, manufactures, and distributes a range of towing, trailering, cargo management, and other related accessory products to the automotive aftermarket, retail, and original equipment channels worldwide. It operates through three segments: Horizon Americas, Horizon Asia-Pacific, and Horizon Europe-Africa.
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