12th Street Asset Management Company LLC Makes New $4.47 Million Investment in Harrow, Inc. $HROW

Key Points

• 12th Street Asset Management disclosed a new stake in Harrow, buying 91,123 shares worth about $4.47 million in the fourth quarter. It owned roughly 0.25% of the company at the end of the reporting period.
• Harrow also saw insider buying, including purchases by Director Adrienne L. Graves and CFO Andrew R. Boll. Insiders now own 12.8% of the company.
• The company’s latest earnings missed analyst expectations, with EPS of ($0.74) versus estimates of ($0.43) and revenue of $44.2 million versus $52.43 million expected. Despite that, analysts still have an overall Moderate Buy rating with an average target price of $69.43.

12th Street Asset Management Company LLC purchased a new stake in Harrow, Inc. (NASDAQ:HROW - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 91,123 shares of the company's stock, valued at approximately $4,465,000. 12th Street Asset Management Company LLC owned approximately 0.25% of Harrow at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. SBI Securities Co. Ltd. raised its position in shares of Harrow by 393.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,061 shares of the company's stock worth $52,000 after purchasing an additional 846 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Harrow during the second quarter worth about $48,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Harrow by 25.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,800 shares of the company's stock valued at $88,000 after buying an additional 369 shares during the last quarter. Larson Financial Group LLC raised its position in shares of Harrow by 848.2% in the third quarter. Larson Financial Group LLC now owns 2,162 shares of the company's stock valued at $104,000 after buying an additional 1,934 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Harrow by 345.0% during the second quarter. Tower Research Capital LLC TRC now owns 3,373 shares of the company's stock valued at $103,000 after buying an additional 2,615 shares during the period. 72.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Harrow

In other Harrow news, Director Adrienne L. Graves purchased 1,000 shares of the firm's stock in a transaction that occurred on Monday, May 18th. The stock was purchased at an average cost of $31.07 per share, with a total value of $31,070.00. Following the transaction, the director owned 1,000 shares in the company, valued at approximately $31,070. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Andrew R. Boll bought 3,500 shares of the firm's stock in a transaction dated Thursday, May 14th. The stock was bought at an average cost of $29.90 per share, with a total value of $104,650.00. Following the transaction, the chief financial officer directly owned 814,679 shares of the company's stock, valued at approximately $24,358,902.10. This trade represents a 0.43% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 12.80% of the company's stock.

Harrow Stock Performance

Shares of NASDAQ:HROW opened at $33.00 on Tuesday. The business has a 50-day moving average of $36.02 and a two-hundred day moving average of $41.95. The firm has a market capitalization of $1.23 billion, a PE ratio of -80.49 and a beta of 0.34. The company has a debt-to-equity ratio of 10.30, a current ratio of 2.48 and a quick ratio of 2.30. Harrow, Inc. has a 12 month low of $25.21 and a 12 month high of $54.85.

Harrow (NASDAQ:HROW - Get Free Report) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.31). Harrow had a negative net margin of 5.57% and a positive return on equity of 19.59%. The firm had revenue of $44.20 million during the quarter, compared to analyst estimates of $52.43 million. During the same period in the prior year, the firm earned ($0.38) earnings per share. As a group, research analysts forecast that Harrow, Inc. will post 0.29 earnings per share for the current year.

Analysts Set New Price Targets

HROW has been the topic of several analyst reports. Wall Street Zen cut Harrow from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. Nomura lowered Harrow to a "neutral" rating in a research note on Wednesday, March 18th. Zacks Research upgraded Harrow from a "strong sell" rating to a "hold" rating in a research report on Friday, April 3rd. Weiss Ratings lowered Harrow from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, April 22nd. Finally, BTIG Research restated a "buy" rating and issued a $63.00 price target on shares of Harrow in a report on Tuesday, May 12th. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Harrow presently has an average rating of "Moderate Buy" and an average target price of $69.43.

About Harrow

Harrow Health, Inc NASDAQ: HROW is a U.S.-based commercial-stage biopharmaceutical company specializing in ophthalmic therapeutics and diagnostics. The company focuses on the development, manufacturing and distribution of proprietary, generic and branded eye care products designed to treat a range of ocular conditions, including glaucoma, ocular hypertension, dry eye disease and other anterior segment disorders.

Through its wholly owned affiliate ImprimisRx, Harrow Health offers a direct-to-physician model for customized formulations as well as low-cost generic alternatives.

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