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.
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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.
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