Militia Capital Partners LP Takes Position in Harrow, Inc. $HROW

Key Points

• Militia Capital Partners LP opened a new position in Harrow, buying 47,000 shares worth about $2.3 million in the fourth quarter. The stake accounted for roughly 0.9% of Militia’s holdings.
• Harrow continues to attract institutional interest, with hedge funds and other investors owning 72.76% of the stock. Several firms recently increased or initiated positions, including notable percentage gains from SBI Securities and Larson Financial Group.
• Analysts remain mixed but generally constructive: Harrow has a “Moderate Buy” consensus with an average price target of $69.43, even as some firms trimmed targets or downgraded the stock. The company also reported a wider-than-expected quarterly loss and weaker-than-expected revenue in its latest earnings release.

Militia Capital Partners LP acquired a new position in Harrow, Inc. (NASDAQ:HROW - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 47,000 shares of the company's stock, valued at approximately $2,303,000. Harrow comprises about 0.9% of Militia Capital Partners LP's holdings, making the stock its 28th biggest holding. Militia Capital Partners LP owned 0.13% of Harrow at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Harrow in the fourth quarter worth approximately $26,000. SBI Securities Co. Ltd. boosted its holdings in shares of Harrow by 393.5% in the fourth 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. Raymond James Financial Inc. purchased a new position in shares of Harrow in the second quarter worth approximately $48,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings 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 worth $88,000 after buying an additional 369 shares during the last quarter. Finally, Larson Financial Group LLC boosted its holdings 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 worth $104,000 after buying an additional 1,934 shares during the last quarter. Hedge funds and other institutional investors own 72.76% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Nomura downgraded shares of Harrow to a "neutral" rating in a report on Wednesday, March 18th. William Blair reissued an "outperform" rating on shares of Harrow in a report on Tuesday, March 3rd. Cantor Fitzgerald dropped their price objective on shares of Harrow from $91.00 to $88.00 and set an "overweight" rating on the stock in a report on Wednesday, May 13th. B. Riley Financial reissued a "buy" rating and issued a $65.00 price objective (down from $74.00) on shares of Harrow in a report on Tuesday, April 7th. Finally, BTIG Research reissued a "buy" rating and issued a $63.00 price objective on shares of Harrow in a report on Tuesday, May 12th. Eight equities 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 company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $69.43.

Harrow Price Performance

Shares of NASDAQ:HROW opened at $38.40 on Wednesday. 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 1-year low of $28.54 and a 1-year high of $54.85. The company has a market capitalization of $1.43 billion, a P/E ratio of -93.66 and a beta of 0.28. The firm's 50 day simple moving average is $36.15 and its two-hundred day simple moving average is $41.60.

Harrow (NASDAQ:HROW - Get Free Report) last issued its quarterly 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 negative net margin of 5.57% and a positive return on equity of 19.59%. The firm had revenue of $44.20 million for the quarter, compared to analysts' expectations of $52.43 million. During the same period in the prior year, the firm earned ($0.38) EPS. Research analysts expect that Harrow, Inc. will post 0.29 EPS for the current fiscal year.

Insider Activity at Harrow

In other news, Director Adrienne L. Graves purchased 1,000 shares of the stock in a transaction on Monday, May 18th. The shares were acquired at an average price of $31.07 per share, with a total value of $31,070.00. Following the completion of the acquisition, the director directly owned 1,000 shares of the company's stock, valued at $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 is available through the SEC website. Also, CFO Andrew R. Boll purchased 3,500 shares of the stock in a transaction on Thursday, May 14th. The shares were purchased at an average cost of $29.90 per share, for a total transaction 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. This represents a 0.43% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 12.80% of the stock is owned by insiders.

Harrow 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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