Blackhawk Capital Partners LLC Grows Stock Position in Harrow, Inc. $HROW

Key Points

• Blackhawk Capital Partners increased its stake in Harrow by 27.9% in the first quarter, buying 37,574 additional shares and bringing its total holdings to 172,332 shares worth about $6.1 million.
• Harrow’s latest earnings missed expectations, with quarterly EPS of -$0.74 versus the -$0.43 estimate and revenue of $44.2 million below the $52.43 million consensus.
• Analyst sentiment remains generally positive despite mixed results, with eight Buy ratings and a consensus price target of $69.43; meanwhile, company insiders also bought shares in recent transactions.

Blackhawk Capital Partners LLC lifted its holdings in Harrow, Inc. (NASDAQ:HROW - Free Report) by 27.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 172,332 shares of the company's stock after purchasing an additional 37,574 shares during the quarter. Harrow comprises 2.2% of Blackhawk Capital Partners LLC's holdings, making the stock its 10th biggest position. Blackhawk Capital Partners LLC owned approximately 0.46% of Harrow worth $6,076,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of HROW. Principal Financial Group Inc. bought a new position in Harrow in the first quarter valued at approximately $1,829,000. Patriot Financial Group Insurance Agency LLC increased its position in shares of Harrow by 80.5% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 13,900 shares of the company's stock worth $490,000 after acquiring an additional 6,200 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of Harrow by 13.0% during the first quarter. Pictet Asset Management Holding SA now owns 5,711 shares of the company's stock worth $201,000 after acquiring an additional 655 shares during the period. Brookstone Capital Management acquired a new stake in shares of Harrow during the first quarter worth $1,018,000. Finally, SG Americas Securities LLC lifted its position in Harrow by 47.3% in the 1st quarter. SG Americas Securities LLC now owns 13,817 shares of the company's stock valued at $487,000 after acquiring an additional 4,435 shares in the last quarter. 72.76% of the stock is owned by institutional investors.

Harrow Stock Performance

Shares of NASDAQ HROW opened at $42.93 on Thursday. The company has a debt-to-equity ratio of 10.30, a quick ratio of 2.30 and a current ratio of 2.48. The stock has a 50 day moving average price of $37.78 and a 200 day moving average price of $41.12. The stock has a market capitalization of $1.60 billion, a PE ratio of -104.70 and a beta of 0.26. Harrow, Inc. has a 52 week low of $28.54 and a 52 week high of $54.85.

Harrow (NASDAQ:HROW - Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.74) EPS for the quarter, missing analysts' consensus estimates of ($0.43) by ($0.31). Harrow had a positive return on equity of 19.59% and a negative net margin of 5.57%.The business had revenue of $44.20 million for the quarter, compared to the consensus estimate of $52.43 million. During the same quarter in the previous year, the business posted ($0.38) EPS. Analysts predict that Harrow, Inc. will post 0.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

HROW has been the topic of a number of research reports. Zacks Research upgraded Harrow from a "strong sell" rating to a "hold" rating in a report on Friday, April 3rd. Weiss Ratings lowered Harrow from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, April 22nd. B. Riley Financial restated a "buy" rating and issued a $65.00 target price (down from $74.00) on shares of Harrow in a research note on Tuesday, April 7th. Cantor Fitzgerald reduced their price target on Harrow from $91.00 to $88.00 and set an "overweight" rating for the company in a research report on Wednesday, May 13th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $70.00 price target on shares of Harrow in a research note on Thursday, March 19th. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Harrow has an average rating of "Moderate Buy" and a consensus price target of $69.43.

Insider Activity at Harrow

In related news, CFO Andrew R. Boll acquired 3,500 shares of the company's stock in a transaction on Thursday, May 14th. The stock was purchased at an average cost of $29.90 per share, with a total value of $104,650.00. Following the acquisition, the chief financial officer directly owned 814,679 shares of the company's stock, valued at approximately $24,358,902.10. The trade was a 0.43% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 bought at an average price of $31.07 per share, for a total transaction of $31,070.00. Following the transaction, the director directly owned 1,000 shares of the company's stock, valued at $31,070. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 12.80% of the stock is currently owned by company insiders.

Harrow Company Profile

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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