Skylands Capital LLC Cuts Stake in Horizon Global Corporation (NYSE:HZN)

Xavier Trudeau
Août 12, 2017

Skylands Capital LLC lowered its stake in Horizon Global Corporation (NYSE:HZN) by 78.1% during the second quarter, according to its most recent disclosure with the SEC. Firm has a $18.00 price objective on the company shares.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new position in shares of Horizon Global Corporation during the first quarter worth $280,000. USA Financial Portformulas Corp purchased a new position in Horizon Global Corporation during the fourth quarter worth about $257,000. Suntrust Banks Inc. acquired a new position in shares of Horizon Global Corporation during the first quarter worth $167,000. Sei Investments Co. now owns 12,406 shares of the company's stock worth $178,000 after buying an additional 4,561 shares during the period. The firm's market cap is $448.60 million. Horizon Global Corporation has a 12 month low of $11.80 and a 12 month high of $26.36. The firm has a 50-day moving average price of $15.13 and a 200-day moving average price of $15.40.

The value of the investment in Horizon Global Corporation increased from $14,022,000 to $14,240,000 a change of $218,000 since the last quarter. The corporation posted $0.84 EPS (EPS) for the period, topping analysts' average forecasts of $0.67 by $0.17. the company reported sales of $253.60 M for the period end, compared to analysts' anticipations of $241.08 M. Horizon Global Corporation had a positive ROE of 18.86% and a negative net profit margin of 1.45%.

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. Lastly, Sei Investments raised its stake in Horizon Global Corporation by 58.1% in the Fiscal Q2. On average, analysts anticipate that Horizon Global Corporation will post $1.09 EPS for the current year.

Horizon Global Corporation declared that its board has authorized a stock buyback program on Wednesday, May 3rd that allows the company to repurchase 1,500,000 shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company's management believes its stock is undervalued.

ILLEGAL ACTIVITY NOTICE: "Horizon Global Corporation (NYSE:HZN) Position Maintained by Weber Alan W" was first reported by BNB Daily and is the property of of BNB Daily. If you are reading this news story on another website, it was copied illegally and republished in violation of US and worldwide trademark & copyright legislation. The legal version of this article can be viewed at https://www.thestockobserver.com/2017/08/11/skylands-capital-llc-decreases-stake-in-horizon-global-corporation-nysehzn-updated-updated.html. On March 2 the company was upgraded to "Outperform" from "Market Perform" by analysts at Barrington Research. Zacks Investment Research upgraded shares of Horizon Global Corporation from a "hold" rating to a "strong-buy" rating and set a $21.00 price target on the stock in a report on Thursday, August 3rd. Finally, Roth Capital set a $22.00 price objective on shares of Horizon Global Corporation and gave the company a "buy" rating in a research report on Wednesday, August 2nd. BMO Capital Markets restated a "buy" rating and issued a $18.00 price objective on shares of Horizon Global Corporation in a research report on Thursday, July 13th. Finally, Skylands Capital LLC purchased a new stake in shares of Horizon Global Corporation during the first quarter valued at $3,665,000. Horizon Global Corporation presently has a consensus rating of "Buy" and an average target price of $20.29. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock.

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