Brookstone Capital Management Acquires New Holdings in Harrow, Inc. $HROW

Key Points

• Brookstone Capital Management opened a new position in Harrow during the first quarter, buying 28,884 shares worth about $1.02 million. Institutional investors now own roughly 72.76% of the company.
• Several analysts remain positive on Harrow despite some mixed views: the stock currently carries a Moderate Buy consensus with an average price target of $69.43. However, at least one firm recently downgraded the stock to Sell.
• Harrow reported a quarterly earnings miss, posting -$0.74 EPS versus the expected -$0.43 and revenue of $44.2 million versus estimates of $52.43 million. Shares opened at $42.07, below the 12-month high of $54.85.

Brookstone Capital Management bought a new stake in Harrow, Inc. (NASDAQ:HROW - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 28,884 shares of the company's stock, valued at approximately $1,018,000. Brookstone Capital Management owned about 0.08% of Harrow at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. purchased a new position in Harrow in the fourth quarter worth $26,000. Raymond James Financial Inc. acquired a new stake in shares of Harrow in the 2nd quarter worth $48,000. SBI Securities Co. Ltd. grew its stake in 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 buying an additional 846 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Harrow by 25.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,800 shares of the company's stock worth $88,000 after buying an additional 369 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in Harrow by 345.0% during the 2nd 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 in the last quarter. 72.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Wall Street Zen downgraded Harrow from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. HC Wainwright restated a "buy" rating and set a $70.00 price objective on shares of Harrow in a report on Thursday, March 19th. Cantor Fitzgerald decreased their price objective on shares of Harrow from $91.00 to $88.00 and set an "overweight" rating for the company in a research report on Wednesday, May 13th. Nomura cut shares of Harrow to a "neutral" rating in a research note on Wednesday, March 18th. Finally, B. Riley Financial reiterated 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. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $69.43.

Harrow Price Performance

Shares of Harrow stock opened at $42.07 on Friday. The company has a quick ratio of 2.30, a current ratio of 2.48 and a debt-to-equity ratio of 10.30. Harrow, Inc. has a twelve month low of $28.54 and a twelve month high of $54.85. The business has a 50-day moving average price of $37.05 and a 200 day moving average price of $41.59. The firm has a market cap of $1.57 billion, a PE ratio of -102.61 and a beta of 0.28.

Harrow (NASDAQ:HROW - Get Free Report) last announced its earnings results 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 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 analyst estimates of $52.43 million. During the same period in the previous year, the company earned ($0.38) earnings per share. Sell-side analysts predict that Harrow, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Activity at Harrow

In other news, CFO Andrew R. Boll bought 3,500 shares of the firm's stock in a transaction dated Thursday, May 14th. The shares were acquired at an average price of $29.90 per share, for a total transaction of $104,650.00. Following the completion of the transaction, the chief financial officer directly owned 814,679 shares in the company, valued at $24,358,902.10. The trade was a 0.43% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Adrienne L. Graves bought 1,000 shares of the stock in a transaction on Monday, May 18th. The shares were acquired at an average cost of $31.07 per share, for a total transaction of $31,070.00. Following the purchase, the director owned 1,000 shares in the company, valued at $31,070. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 12.80% of the company's stock.

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.

Want to see what other hedge funds are holding HROW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Harrow, Inc. (NASDAQ:HROW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.