Shares of Horizon Technology Finance Corporation (NASDAQ:HRZN – Get Free Report) have been given an average rating of “Hold” by the seven ratings firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $5.00.
A number of equities analysts have recently weighed in on the company. Zacks Research upgraded Horizon Technology Finance from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 7th. UBS Group upped their price objective on Horizon Technology Finance from $4.25 to $4.50 and gave the company a “neutral” rating in a report on Tuesday. Keefe, Bruyette & Woods dropped their target price on Horizon Technology Finance from $5.00 to $4.50 and set a “market perform” rating for the company in a report on Friday, August 21st. Oppenheimer reduced their target price on shares of Horizon Technology Finance from $6.00 to $5.00 and set a “market perform” rating for the company in a research report on Friday, August 7th. Finally, Compass Point began coverage on shares of Horizon Technology Finance in a research note on Thursday, August 27th. They issued a “buy” rating and a $5.50 price target on the stock.
Read Our Latest Analysis on HRZN
Horizon Technology Finance Trading Up 6.4%
Horizon Technology Finance (NASDAQ:HRZN – Get Free Report) last posted its earnings results on Tuesday, August 4th. The investment management company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). The business had revenue of ($44.66) million for the quarter, compared to analyst estimates of $25.22 million. Horizon Technology Finance had a return on equity of 11.15% and a net margin of 5.27%. As a group, sell-side analysts predict that Horizon Technology Finance will post 0.63 EPS for the current fiscal year.
Horizon Technology Finance Announces Dividend
The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, November 17th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a c) dividend on an annualized basis and a dividend yield of 15.0%. Horizon Technology Finance’s payout ratio is 200.00%.
Insider Transactions at Horizon Technology Finance
In related news, Director Thomas J. Allison bought 6,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were purchased at an average price of $4.36 per share, with a total value of $26,160.00. Following the completion of the purchase, the director owned 55,926 shares in the company, valued at $243,837.36. This represents a 12.02% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Daniel R. Trolio bought 11,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The shares were acquired at an average price of $4.34 per share, for a total transaction of $49,910.00. Following the completion of the transaction, the chief financial officer owned 15,023 shares in the company, valued at $65,199.82. This trade represents a 326.43% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have purchased 134,977 shares of company stock valued at $585,975. 0.29% of the stock is owned by company insiders.
Institutional Trading of Horizon Technology Finance
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Green Alpha Advisors LLC purchased a new stake in shares of Horizon Technology Finance in the second quarter worth approximately $2,033,000. Legal & General Group Plc bought a new stake in shares of Horizon Technology Finance during the 2nd quarter worth $1,821,000. Eagle Point Credit Management LLC bought a new position in shares of Horizon Technology Finance during the 4th quarter valued at approximately $2,385,000. Bank of America Corp DE purchased a new position in Horizon Technology Finance in the second quarter valued at approximately $1,068,000. Finally, BlackRock Inc. bought a new position in shares of Horizon Technology Finance during the 2nd quarter worth $856,000. 4.94% of the stock is owned by institutional investors.
Horizon Technology Finance Company Profile
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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