Horizon Technology Finance Corporation (NASDAQ:HRZN – Get Free Report) declared a special dividend on Friday, May 1st. Investors of record on Monday, August 17th will be given a dividend of 0.03 per share by the investment management company on Tuesday, September 15th. The ex-dividend date of this dividend is Monday, August 17th.
Horizon Technology Finance has raised its dividend by an average of 0.0%annually over the last three years. Horizon Technology Finance has a dividend payout ratio of 62.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Horizon Technology Finance to earn $0.71 per share next year, which means the company may not be able to cover its $0.72 annual dividend with an expected future payout ratio of 101.4%.
Horizon Technology Finance Trading Down 2.0%
Horizon Technology Finance stock opened at $5.01 on Friday. The firm has a 50 day simple moving average of $4.54 and a 200 day simple moving average of $4.79. Horizon Technology Finance has a 1-year low of $3.80 and a 1-year high of $7.19. The firm has a market capitalization of $335.82 million, a price-to-earnings ratio of 13.92 and a beta of 0.98.
Insiders Place Their Bets
In related news, CIO Paul G. Seitz bought 11,477 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were acquired at an average cost of $4.35 per share, with a total value of $49,924.95. Following the completion of the purchase, the executive directly owned 12,242 shares of the company’s stock, valued at $53,252.70. This trade represents a 1,500.26% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jonathan Joseph Goodman bought 6,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were bought at an average price of $4.33 per share, with a total value of $25,980.00. Following the completion of the transaction, the director owned 8,312 shares of the company’s stock, valued at $35,990.96. The trade was a 259.52% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought a total of 134,977 shares of company stock valued at $585,975 over the last three months. Corporate insiders own 0.29% of the company’s stock.
Institutional Trading of Horizon Technology Finance
A number of hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc purchased a new position in Horizon Technology Finance in the second quarter worth $1,821,000. Quantbot Technologies LP purchased a new stake in Horizon Technology Finance during the second quarter valued at about $172,000. Green Alpha Advisors LLC purchased a new stake in Horizon Technology Finance during the second quarter valued at about $2,033,000. BlackRock Inc. bought a new stake in Horizon Technology Finance during the second quarter worth about $856,000. Finally, Leading Edge Financial Planning LLC bought a new stake in Horizon Technology Finance during the second quarter worth about $79,000. 4.94% of the stock is owned by institutional investors.
About Horizon Technology Finance
Horizon Technology Finance Corporation is a specialty finance company organized as a business development company (BDC) that provides private credit solutions to venture capital and private equity-backed technology, life science and healthcare companies. The firm targets companies at various stages of development, offering secured debt financing structures such as first‐lien and second‐lien loans, as well as equity co‐investment opportunities in select portfolio companies.
Horizon Technology Finance’s investment strategy emphasizes deployment of capital in U.S.‐based enterprises with proven technology, strong management teams and clear paths to growth.
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