Independent Advisor Alliance Lowers Holdings in Harrow, Inc. (NASDAQ:HROW)

Independent Advisor Alliance lowered its stake in shares of Harrow, Inc. (NASDAQ:HROW) by 43.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 5,789 shares of the company’s stock after selling 4,500 shares during the period. Independent Advisor Alliance’s holdings in Harrow were worth $260,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Private Capital Management LLC raised its position in Harrow by 7.8% during the first quarter. Private Capital Management LLC now owns 3,012,393 shares of the company’s stock valued at $39,854,000 after acquiring an additional 217,896 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Harrow by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 1,829,805 shares of the company’s stock valued at $24,208,000 after purchasing an additional 21,253 shares in the last quarter. First Turn Management LLC acquired a new position in shares of Harrow in the 3rd quarter valued at $14,683,000. Rice Hall James & Associates LLC boosted its holdings in Harrow by 23.1% during the third quarter. Rice Hall James & Associates LLC now owns 314,881 shares of the company’s stock worth $14,157,000 after buying an additional 59,019 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Harrow by 195.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 251,629 shares of the company’s stock valued at $11,313,000 after buying an additional 166,602 shares during the period. Institutional investors and hedge funds own 72.76% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on HROW. B. Riley reiterated a “buy” rating and issued a $50.00 price objective on shares of Harrow in a research report on Thursday, August 29th. Lake Street Capital upped their price target on Harrow from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Finally, Craig Hallum raised their price objective on Harrow from $45.00 to $65.00 and gave the company a “buy” rating in a report on Friday, October 4th.

Harrow Stock Performance

HROW opened at $42.47 on Friday. The firm’s fifty day simple moving average is $47.68 and its two-hundred day simple moving average is $34.23. Harrow, Inc. has a 52-week low of $8.72 and a 52-week high of $59.23. The company has a market cap of $1.51 billion, a price-to-earnings ratio of -45.18 and a beta of 0.76. The company has a quick ratio of 1.44, a current ratio of 1.55 and a debt-to-equity ratio of 3.23.

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.