Virtu Financial LLC Takes Position in Harrow, Inc. $HROW

Virtu Financial LLC acquired a new position in Harrow, Inc. (NASDAQ:HROW) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 14,321 shares of the company’s stock, valued at approximately $702,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Invesco Ltd. grew its position in Harrow by 35.7% during the fourth quarter. Invesco Ltd. now owns 145,406 shares of the company’s stock valued at $7,125,000 after buying an additional 38,264 shares during the period. Occudo Quantitative Strategies LP bought a new position in Harrow in the fourth quarter worth approximately $801,000. Cetera Investment Advisers boosted its stake in shares of Harrow by 2.6% during the 4th quarter. Cetera Investment Advisers now owns 23,256 shares of the company’s stock worth $1,140,000 after acquiring an additional 597 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Harrow by 4.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,412 shares of the company’s stock worth $1,246,000 after acquiring an additional 1,161 shares during the last quarter. Finally, Corsair Capital Management L.P. bought a new stake in shares of Harrow during the 4th quarter valued at $490,000. Hedge funds and other institutional investors own 72.76% of the company’s stock.

Harrow Trading Down 1.1%

Shares of Harrow stock opened at $42.41 on Tuesday. The company has a market capitalization of $1.58 billion, a P/E 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 company has a fifty day moving average of $36.66 and a 200 day moving average of $41.65. Harrow, Inc. has a fifty-two week low of $28.54 and a fifty-two week high of $54.85.

Harrow (NASDAQ:HROW) 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 negative net margin of 5.57% and a positive return on equity of 19.59%. The business had revenue of $44.20 million for the quarter, compared to the consensus estimate of $52.43 million. During the same period in the prior year, the business earned ($0.38) earnings per share. On average, sell-side analysts anticipate that Harrow, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Activity

In other Harrow news, CFO Andrew R. Boll bought 3,500 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was purchased 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 owned 814,679 shares of the company’s stock, valued at $24,358,902.10. This trade represents a 0.43% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Adrienne L. Graves purchased 1,000 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was acquired at an average cost of $31.07 per share, for a total transaction of $31,070.00. Following the completion of the acquisition, the director owned 1,000 shares in the company, valued at $31,070. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 12.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on HROW. Nomura cut Harrow to a “neutral” rating in a report on Wednesday, March 18th. Zacks Research raised Harrow from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. William Blair restated an “outperform” rating on shares of Harrow in a research report on Tuesday, March 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Harrow in a research note on Thursday, March 19th. Finally, Wall Street Zen cut Harrow from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Eight 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 MarketBeat, Harrow presently has a consensus rating of “Moderate Buy” and an average price target of $69.43.

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.