Horizon Technology Finance Co. (NASDAQ:HRZN) Director Purchases $122,300.00 in Stock

Horizon Technology Finance Co. (NASDAQ:HRZNGet Rating) Director Joseph J. Savage acquired 10,000 shares of the company’s stock in a transaction on Monday, May 16th. The stock was purchased at an average cost of $12.23 per share, for a total transaction of $122,300.00. Following the completion of the purchase, the director now directly owns 50,000 shares in the company, valued at approximately $611,500. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

NASDAQ HRZN traded up $0.02 during trading hours on Tuesday, reaching $12.31. The company’s stock had a trading volume of 6,497 shares, compared to its average volume of 237,068. The stock has a market cap of $295.19 million, a PE ratio of 9.91 and a beta of 1.01. Horizon Technology Finance Co. has a fifty-two week low of $11.62 and a fifty-two week high of $19.08. The company’s 50-day moving average is $13.55 and its two-hundred day moving average is $15.24.

Horizon Technology Finance (NASDAQ:HRZNGet Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The investment management company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.03). The business had revenue of $14.20 million during the quarter, compared to analyst estimates of $14.34 million. Horizon Technology Finance had a net margin of 41.45% and a return on equity of 11.32%. During the same period in the previous year, the company posted $0.31 earnings per share. As a group, equities research analysts forecast that Horizon Technology Finance Co. will post 1.24 earnings per share for the current year.

The company also recently announced a monthly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, August 18th will be issued a $0.10 dividend. The ex-dividend date is Wednesday, August 17th. This represents a $1.20 dividend on an annualized basis and a yield of 9.75%. Horizon Technology Finance’s dividend payout ratio (DPR) is 96.77%.

Several brokerages have issued reports on HRZN. Zacks Investment Research cut shares of Horizon Technology Finance from a “hold” rating to a “strong sell” rating in a research note on Friday, May 6th. StockNews.com initiated coverage on shares of Horizon Technology Finance in a research note on Thursday, March 31st. They set a “sell” rating on the stock. Finally, Compass Point raised shares of Horizon Technology Finance from a “sell” rating to a “neutral” rating in a research note on Wednesday, May 4th. Two investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Based on data from MarketBeat, Horizon Technology Finance has an average rating of “Hold” and an average price target of $16.25.

Large investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. purchased a new position in Horizon Technology Finance in the 1st quarter valued at about $28,000. Marshall Wace North America L.P. purchased a new position in shares of Horizon Technology Finance during the 1st quarter worth about $62,000. Royal Bank of Canada lifted its holdings 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 acquiring an additional 913 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Horizon Technology Finance by 245,900.0% during the 4th quarter. JPMorgan Chase & Co. now owns 7,380 shares of the investment management company’s stock worth $117,000 after acquiring an additional 7,377 shares during the period. Finally, Wilbanks Smith & Thomas Asset Management LLC purchased a new position in shares of Horizon Technology Finance during the 1st quarter worth about $128,000. Institutional investors own 11.30% of the company’s stock.

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.

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