GSA Capital Partners LLP Takes Position in Horizon Global Corp (HZN)

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GSA Capital Partners LLP acquired a new position in shares of Horizon Global Corp (NYSE:HZN) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 55,782 shares of the company’s stock, valued at approximately $460,000. GSA Capital Partners LLP owned 0.22% of Horizon Global at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Schwab Charles Investment Management Inc. grew its holdings in Horizon Global by 7.8% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 96,168 shares of the company’s stock worth $1,349,000 after acquiring an additional 6,999 shares during the period. MetLife Investment Advisors LLC acquired a new position in Horizon Global during the fourth quarter worth $135,000. Russell Investments Group Ltd. grew its holdings in Horizon Global by 4.6% during the first quarter. Russell Investments Group Ltd. now owns 320,514 shares of the company’s stock worth $2,641,000 after acquiring an additional 14,173 shares during the period. Wilen Investment Management CORP. grew its holdings in Horizon Global by 202.1% during the first quarter. Wilen Investment Management CORP. now owns 37,461 shares of the company’s stock worth $300,000 after acquiring an additional 25,061 shares during the period. Finally, BlackRock Inc. grew its holdings in Horizon Global by 1.7% during the fourth quarter. BlackRock Inc. now owns 1,546,801 shares of the company’s stock worth $21,686,000 after acquiring an additional 25,400 shares during the period. 77.59% of the stock is currently owned by hedge funds and other institutional investors.

Horizon Global opened at $6.20 on Friday, MarketBeat.com reports. The company has a current ratio of 1.53, a quick ratio of 0.71 and a debt-to-equity ratio of 3.39. The firm has a market capitalization of $181.59 million, a price-to-earnings ratio of 6.33, a PEG ratio of 1.45 and a beta of 0.69. Horizon Global Corp has a fifty-two week low of $5.13 and a fifty-two week high of $19.26.

Horizon Global (NYSE:HZN) last posted its earnings results on Thursday, May 3rd. The company reported ($0.32) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.17). The firm had revenue of $216.80 million during the quarter, compared to analyst estimates of $212.66 million. Horizon Global had a negative net margin of 5.65% and a positive return on equity of 15.81%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the company posted ($0.17) EPS. equities analysts predict that Horizon Global Corp will post 0.71 EPS for the current year.

A number of brokerages recently weighed in on HZN. Roth Capital upped their price objective on Horizon Global from $6.50 to $7.50 and gave the stock a “neutral” rating in a report on Friday. Bank of America lowered Horizon Global from a “buy” rating to an “underperform” rating and dropped their price objective for the stock from $10.00 to $5.00 in a report on Friday. Zacks Investment Research raised Horizon Global from a “strong sell” rating to a “hold” rating in a report on Thursday, March 29th. ValuEngine lowered Horizon Global from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. Finally, B. Riley initiated coverage on Horizon Global in a report on Friday, April 13th. They set a “buy” rating and a $12.50 price objective on the stock. Four analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $14.14.

About Horizon Global

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

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