Horizon Technology Finance Co. (NASDAQ:HRZN – Get Rating) was the recipient of a significant decline in short interest during the month of April. As of April 30th, there was short interest totalling 347,600 shares, a decline of 26.1% from the April 15th total of 470,600 shares. Based on an average trading volume of 211,100 shares, the days-to-cover ratio is presently 1.6 days.
In other news, President Gerald A. Michaud acquired 3,050 shares of the firm’s stock in a transaction that occurred on Monday, May 9th. The stock was acquired at an average cost of $12.06 per share, with a total value of $36,783.00. Following the acquisition, the president now owns 121,899 shares in the company, valued at $1,470,101.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph J. Savage acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 12th. The shares were purchased at an average cost of $11.82 per share, with a total value of $59,100.00. Following the completion of the acquisition, the director now owns 40,000 shares in the company, valued at approximately $472,800. The disclosure for this purchase can be found here. Insiders acquired 12,464 shares of company stock valued at $151,771 over the last quarter. Corporate insiders own 1.70% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. LPL Financial LLC raised its stake in shares of Horizon Technology Finance by 5.6% in the 3rd quarter. LPL Financial LLC now owns 16,894 shares of the investment management company’s stock valued at $275,000 after buying an additional 893 shares in the last quarter. Royal Bank of Canada increased its position in shares of Horizon Technology Finance by 21.2% during the 2nd quarter. Royal Bank of Canada now owns 5,214 shares of the investment management company’s stock worth $90,000 after purchasing an additional 913 shares in the last quarter. Morgan Stanley increased its position in shares of Horizon Technology Finance by 3.4% during the 3rd quarter. Morgan Stanley now owns 36,729 shares of the investment management company’s stock worth $596,000 after purchasing an additional 1,206 shares in the last quarter. PNC Financial Services Group Inc. acquired a new stake in shares of Horizon Technology Finance during the 1st quarter worth about $28,000. Finally, Gitterman Wealth Management LLC increased its position in shares of Horizon Technology Finance by 7.1% during the 4th quarter. Gitterman Wealth Management LLC now owns 32,238 shares of the investment management company’s stock worth $520,000 after purchasing an additional 2,150 shares in the last quarter. Institutional investors own 11.30% of the company’s stock.
Horizon Technology Finance (NASDAQ:HRZN – Get Rating) last released its earnings results on Tuesday, May 3rd. The investment management company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.03). Horizon Technology Finance had a net margin of 41.45% and a return on equity of 11.32%. The company had revenue of $14.20 million for the quarter, compared to analyst estimates of $14.34 million. During the same quarter in the previous year, the company earned $0.31 earnings per share. On average, analysts expect that Horizon Technology Finance will post 1.24 EPS for the current year.
The firm also recently disclosed a monthly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, August 18th will be paid a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 9.76%. The ex-dividend date of this dividend is Wednesday, August 17th. Horizon Technology Finance’s dividend payout ratio is 96.77%.
Several research firms recently issued reports on HRZN. Compass Point raised shares of Horizon Technology Finance from a “sell” rating to a “neutral” rating in a report on Wednesday, May 4th. Zacks Investment Research downgraded shares of Horizon Technology Finance from a “hold” rating to a “strong sell” rating in a report on Friday, May 6th. Finally, StockNews.com started coverage on shares of Horizon Technology Finance in a report on Thursday, March 31st. They set a “sell” rating for the company. Two investment analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Based on data from MarketBeat, Horizon Technology Finance presently has a consensus rating of “Hold” and an average price target of $16.25.
Horizon Technology Finance Company Profile (Get Rating)
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.
- Get a free copy of the StockNews.com research report on Horizon Technology Finance (HRZN)
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