Renaissance Technologies LLC Sells 20,400 Shares of Harrow, Inc. $HROW

Renaissance Technologies LLC lowered its holdings in Harrow, Inc. (NASDAQ:HROW) by 19.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 84,579 shares of the company’s stock after selling 20,400 shares during the period. Renaissance Technologies LLC’s holdings in Harrow were worth $2,982,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Royal Bank of Canada raised its position in shares of Harrow by 102.5% in the first quarter. Royal Bank of Canada now owns 9,813 shares of the company’s stock valued at $261,000 after buying an additional 4,967 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Harrow by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,146 shares of the company’s stock worth $483,000 after buying an additional 790 shares in the last quarter. Strs Ohio bought a new position in Harrow during the 1st quarter worth $149,000. Legal & General Group Plc raised its holdings in Harrow by 12.4% in the 2nd quarter. Legal & General Group Plc now owns 30,753 shares of the company’s stock valued at $939,000 after acquiring an additional 3,384 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Harrow by 9.3% during the 2nd quarter. Rhumbline Advisers now owns 46,969 shares of the company’s stock valued at $1,434,000 after acquiring an additional 3,994 shares during the period. Institutional investors and hedge funds own 72.76% of the company’s stock.

Insider Activity

In related news, CFO Andrew R. Boll purchased 3,500 shares of Harrow stock in a transaction dated Thursday, May 14th. The shares were bought at an average cost of $29.90 per share, for a total transaction of $104,650.00. Following the purchase, the chief financial officer owned 814,679 shares in the company, valued at approximately $24,358,902.10. This trade represents a 0.43% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Adrienne L. Graves purchased 1,000 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were bought 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 directly owned 1,000 shares in the company, valued at $31,070. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. 12.80% of the stock is currently owned by insiders.

Harrow Trading Up 1.3%

Shares of HROW stock opened at $40.44 on Friday. Harrow, Inc. has a fifty-two week low of $28.54 and a fifty-two week high of $54.85. The stock’s fifty day moving average price is $40.34 and its two-hundred day moving average price is $40.12. 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 market cap of $1.51 billion, a PE ratio of -98.63 and a beta of 0.28.

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 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 last year, the firm posted ($0.38) EPS. Equities analysts predict that Harrow, Inc. will post 0.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on HROW. BTIG Research restated a “buy” rating and issued a $63.00 price target on shares of Harrow in a research report on Tuesday, July 21st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Harrow in a research note on Monday, July 20th. Wall Street Zen lowered shares of Harrow from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Cantor Fitzgerald dropped their target price 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. 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.