California Public Employees Retirement System Buys 6,300 Shares of Horizon Global Corp (NYSE:HZN)

California Public Employees Retirement System lifted its stake in Horizon Global Corp (NYSE:HZN) by 5.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 114,900 shares of the company’s stock after buying an additional 6,300 shares during the quarter. California Public Employees Retirement System’s holdings in Horizon Global were worth $439,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Horizon Global by 2.4% during the second quarter. Vanguard Group Inc. now owns 848,039 shares of the company’s stock valued at $3,044,000 after buying an additional 19,689 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Horizon Global by 13.1% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,487,928 shares of the company’s stock valued at $12,522,000 after buying an additional 404,930 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its stake in Horizon Global by 12.9% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 446,807 shares of the company’s stock worth $1,604,000 after acquiring an additional 51,118 shares during the last quarter. 41.59% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:HZN opened at $3.47 on Friday. The firm has a fifty day simple moving average of $3.78 and a two-hundred day simple moving average of $3.95. Horizon Global Corp has a 52 week low of $1.34 and a 52 week high of $5.79. The company has a quick ratio of 0.72, a current ratio of 1.56 and a debt-to-equity ratio of 5.98. The stock has a market capitalization of $87.59 million, a P/E ratio of -2.51 and a beta of 1.28.

Horizon Global (NYSE:HZN) last announced its earnings results on Tuesday, November 12th. The company reported ($1.47) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($1.56). The firm had revenue of $177.85 million for the quarter, compared to analysts’ expectations of $239.31 million. On average, analysts expect that Horizon Global Corp will post -2.07 earnings per share for the current year.

In related news, major shareholder Atlas Capital Resources Ii Lp sold 55,500 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $3.55, for a total transaction of $197,025.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Harry James Wilson purchased 11,436 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was bought at an average price of $3.18 per share, with a total value of $36,366.48. Following the completion of the transaction, the director now owns 627,731 shares of the company’s stock, valued at $1,996,184.58. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 61,373 shares of company stock valued at $207,995 and sold 151,593 shares valued at $539,756. Company insiders own 10.23% of the company’s stock.

A number of research firms have recently commented on HZN. Zacks Investment Research downgraded Horizon Global from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. B. Riley reissued a “neutral” rating on shares of Horizon Global in a report on Wednesday, November 13th. Finally, ValuEngine cut shares of Horizon Global from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th.

Horizon Global Profile

Horizon Global Corporation designs, manufactures, and distributes a range of towing, trailering, cargo management, and other related accessory products worldwide. It operates in three segments: Horizon Americas, Horizon Asia-Pacific, and Horizon Europe-Africa. The company provides towing products, such as hitches, fifth wheels, gooseneck hitches, weight distribution systems, wiring harnesses, draw bars, ball mounts, crossbars, tow bars, security products, and other towing accessories for attaching a trailer, camper, etc.

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Institutional Ownership by Quarter for Horizon Global (NYSE:HZN)

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