Horizon Global (NYSE:HZN) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of Horizon Global (NYSE:HZNGet Rating) in a note issued to investors on Wednesday. The brokerage set a “hold” rating on the stock.

NYSE HZN opened at $1.93 on Wednesday. Horizon Global has a 52-week low of $1.90 and a 52-week high of $9.38. The business’s 50-day moving average price is $2.87 and its 200 day moving average price is $5.32. The firm has a market cap of $53.29 million, a P/E ratio of -1.20 and a beta of 1.96.

Horizon Global (NYSE:HZNGet Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported ($0.98) earnings per share (EPS) for the quarter. The company had revenue of $180.86 million during the quarter.

In other news, Director John Frederick Barrett purchased 114,500 shares of the firm’s stock in a transaction dated Friday, May 13th. The shares were acquired at an average price of $2.48 per share, with a total value of $283,960.00. Following the purchase, the director now directly owns 2,430,528 shares of the company’s stock, valued at $6,027,709.44. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John C. Kennedy purchased 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The shares were purchased at an average cost of $2.83 per share, for a total transaction of $28,300.00. Following the purchase, the director now directly owns 864,209 shares in the company, valued at $2,445,711.47. The disclosure for this purchase can be found here. Insiders acquired a total of 134,896 shares of company stock worth $336,641 in the last ninety days. 19.82% of the stock is owned by corporate insiders.

Several institutional investors have recently modified their holdings of HZN. Jane Street Group LLC acquired a new position in shares of Horizon Global during the 1st quarter worth approximately $65,000. Raymond James & Associates acquired a new position in shares of Horizon Global during the 4th quarter worth approximately $82,000. Oppenheimer Asset Management Inc. raised its position in shares of Horizon Global by 65.8% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 18,465 shares of the company’s stock worth $147,000 after purchasing an additional 7,330 shares during the last quarter. DAVENPORT & Co LLC acquired a new position in shares of Horizon Global during the 1st quarter worth approximately $184,000. Finally, First Eagle Investment Management LLC raised its position in shares of Horizon Global by 90.0% during the 4th quarter. First Eagle Investment Management LLC now owns 91,467 shares of the company’s stock worth $730,000 after purchasing an additional 43,319 shares during the last quarter. Hedge funds and other institutional investors own 68.24% of the company’s stock.

About Horizon Global (Get Rating)

Horizon Global Corporation engages in the design, manufacture, and distribution of towing, trailering, cargo management, and other related accessory products worldwide. It operates in two segments, Horizon Americas and Horizon Europe-Africa. The company provides towing products, such as hitches/tow bars, fifth wheels, gooseneck hitches, weight distribution systems, brake controllers, wiring harnesses, draw bars, ball mounts, crossbars, security products, and other towing accessories.

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