Private Capital Management LLC Reduces Stock Holdings in Harrow, Inc. (NASDAQ:HROW)

Private Capital Management LLC trimmed its holdings in Harrow, Inc. (NASDAQ:HROW) by 20.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,163,681 shares of the company’s stock after selling 551,170 shares during the quarter. Harrow comprises about 19.4% of Private Capital Management LLC’s investment portfolio, making the stock its biggest holding. Private Capital Management LLC owned about 6.07% of Harrow worth $97,279,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in shares of Harrow by 443.1% during the third quarter. JPMorgan Chase & Co. now owns 238,367 shares of the company’s stock valued at $10,717,000 after purchasing an additional 194,480 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of Harrow in the 3rd quarter worth approximately $1,267,000. Penserra Capital Management LLC bought a new position in Harrow during the 3rd quarter valued at approximately $1,986,000. Barclays PLC raised its stake in Harrow by 301.9% during the third quarter. Barclays PLC now owns 52,593 shares of the company’s stock valued at $2,365,000 after buying an additional 39,506 shares during the last quarter. Finally, First Turn Management LLC bought a new stake in Harrow in the third quarter worth $14,683,000. 72.76% of the stock is owned by hedge funds and other institutional investors.

Harrow Stock Performance

Shares of HROW opened at $27.56 on Friday. The company has a market cap of $981.55 million, a price-to-earnings ratio of -29.32 and a beta of 0.69. The business’s fifty day simple moving average is $32.78 and its two-hundred day simple moving average is $40.13. Harrow, Inc. has a 12 month low of $9.30 and a 12 month high of $59.23. The company has a current ratio of 1.55, a quick ratio of 1.44 and a debt-to-equity ratio of 3.23.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on HROW. B. Riley reduced their price target on Harrow from $73.00 to $69.00 and set a “buy” rating for the company in a report on Wednesday, December 4th. HC Wainwright initiated coverage on shares of Harrow in a research note on Thursday, February 6th. They set a “buy” rating and a $57.00 price objective for the company.

About Harrow

Harrow, Inc operates as an ophthalmic-focused healthcare company. The company owns ImprimisRx, an ophthalmology outsourcing and pharmaceutical compounding business. The company was formerly known as Imprimis Pharmaceuticals, Inc and changed its name to Harrow Health, Inc in December 2018. Harrow Health, Inc was incorporated in 2006 and is headquartered in Nashville, Tennessee.