Horizon Technology Finance (NASDAQ:HRZN) Issues Quarterly Earnings Results

Horizon Technology Finance (NASDAQ:HRZN) announced its quarterly earnings results on Tuesday, April 30th. The investment management company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.03), Morningstar.com reports. Horizon Technology Finance had a net margin of 41.69% and a return on equity of 9.94%. The firm had revenue of $8.31 million for the quarter.

Shares of NASDAQ:HRZN traded up $0.01 during trading on Friday, reaching $11.73. The stock had a trading volume of 34,900 shares, compared to its average volume of 108,028. The firm has a market capitalization of $158.69 million, a PE ratio of 9.78 and a beta of 0.77. Horizon Technology Finance has a 1-year low of $9.96 and a 1-year high of $13.48.

The company also recently declared a monthly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, July 18th will be paid a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 10.23%. The ex-dividend date is Wednesday, July 17th. Horizon Technology Finance’s dividend payout ratio is presently 100.00%.

In related news, CEO Robert D. Jr. Pomeroy acquired 4,500 shares of the stock in a transaction on Monday, May 13th. The shares were bought at an average price of $11.70 per share, with a total value of $52,650.00. Following the completion of the purchase, the chief executive officer now owns 86,077 shares of the company’s stock, valued at approximately $1,007,100.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.70% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. FNY Investment Advisers LLC acquired a new position in shares of Horizon Technology Finance in the 1st quarter valued at $57,000. Marshall Wace North America L.P. purchased a new stake in shares of Horizon Technology Finance in the 1st quarter valued at $62,000. Advisor Group Inc. raised its holdings in shares of Horizon Technology Finance by 1,275.2% in the 1st quarter. Advisor Group Inc. now owns 7,220 shares of the investment management company’s stock valued at $85,000 after buying an additional 6,695 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Horizon Technology Finance by 57.0% in the 1st quarter. Wells Fargo & Company MN now owns 28,792 shares of the investment management company’s stock valued at $340,000 after buying an additional 10,455 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in shares of Horizon Technology Finance by 5.4% in the 1st quarter. Advisors Asset Management Inc. now owns 252,695 shares of the investment management company’s stock valued at $2,979,000 after buying an additional 13,025 shares during the period. 9.77% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have weighed in on HRZN. National Securities reissued a “neutral” rating and issued a $11.00 price target on shares of Horizon Technology Finance in a report on Thursday, May 2nd. Maxim Group raised their price target on Horizon Technology Finance from $12.00 to $13.50 and gave the stock a “buy” rating in a report on Thursday, March 7th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Horizon Technology Finance presently has a consensus rating of “Hold” and a consensus target price of $11.88.

TRADEMARK VIOLATION WARNING: “Horizon Technology Finance (NASDAQ:HRZN) Issues Quarterly Earnings Results” was published by Sundance Herald and is the sole property of of Sundance Herald. If you are viewing this report on another domain, it was copied illegally and reposted in violation of US & international copyright & trademark legislation. The legal version of this report can be accessed at https://sundanceherald.com/2019/05/24/horizon-technology-finance-hrzn-announces-quarterly-earnings-results-misses-estimates-by-0-03-eps.html.

About Horizon Technology Finance

Horizon Technology Finance Corporation is a business development company specializing in lending and and investing in development-stage investments. It focuses on making secured debt and venture lending investments to venture capital backed companies in the technology, life science, healthcare information and services, and cleantech industries.

Recommended Story: Why are gap-down stocks important?

Earnings History for Horizon Technology Finance (NASDAQ:HRZN)

Receive News & Ratings for Horizon Technology Finance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Horizon Technology Finance and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply