Virtu Financial LLC Makes New $702,000 Investment in Harrow, Inc. $HROW

Virtu Financial LLC acquired a new stake in shares of Harrow, Inc. (NASDAQ:HROW) in the 4th quarter, Holdings Channel.com reports. The fund acquired 14,321 shares of the company’s stock, valued at approximately $702,000.

A number of other institutional investors have also recently made changes to their positions in HROW. Penn Capital Management Company LLC purchased a new stake in shares of Harrow in the third quarter worth about $15,717,000. Luxor Capital Group LP bought a new stake in Harrow in the 3rd quarter worth approximately $14,807,000. Bank of America Corp DE increased its stake in Harrow by 266.8% in the 2nd quarter. Bank of America Corp DE now owns 213,448 shares of the company’s stock worth $6,519,000 after acquiring an additional 155,258 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Harrow by 967.6% during the 2nd quarter. Invesco Ltd. now owns 150,948 shares of the company’s stock worth $4,610,000 after acquiring an additional 136,809 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Harrow by 82.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 280,217 shares of the company’s stock valued at $13,501,000 after acquiring an additional 126,904 shares during the last quarter. Hedge funds and other institutional investors own 72.76% of the company’s stock.

Harrow Price Performance

Shares of Harrow stock opened at $42.41 on Tuesday. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of -103.44 and a beta of 0.28. 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 $36.66 and a 200-day moving average price of $41.65. Harrow, Inc. has a one year low of $28.54 and a one year high of $54.85.

Harrow (NASDAQ:HROW) last released 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). The company had revenue of $44.20 million for the quarter, compared to analysts’ expectations of $52.43 million. Harrow had a negative net margin of 5.57% and a positive return on equity of 19.59%. During the same quarter in the previous year, the company posted ($0.38) EPS. Equities analysts expect that Harrow, Inc. will post 0.29 EPS for the current year.

Analysts Set New Price Targets

HROW has been the subject of a number of recent research reports. BTIG Research reissued a “buy” rating and issued a $63.00 target price on shares of Harrow in a report on Tuesday, May 12th. Nomura lowered shares of Harrow to a “neutral” rating in a research report on Wednesday, March 18th. Weiss Ratings cut shares of Harrow from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, April 22nd. Wall Street Zen downgraded shares of Harrow from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, William Blair restated an “outperform” rating on shares of Harrow in a report on Tuesday, March 3rd. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Harrow has a consensus rating of “Moderate Buy” and an average price target of $69.43.

Insiders Place Their Bets

In other news, Director Adrienne L. Graves bought 1,000 shares of Harrow stock in a transaction dated 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 purchase, the director owned 1,000 shares in the company, valued at $31,070. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Andrew R. Boll bought 3,500 shares of the stock in a transaction dated Thursday, May 14th. The stock was purchased at an average price 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 in the company, valued at approximately $24,358,902.10. The trade was a 0.43% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 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.