Horizon Technology Finance Corp (NASDAQ:HRZN) Director Joseph J. Savage Acquires 2,000 Shares

Horizon Technology Finance Corp (NASDAQ:HRZN) Director Joseph J. Savage acquired 2,000 shares of the stock in a transaction on Wednesday, March 25th. The stock was bought at an average cost of $8.91 per share, with a total value of $17,820.00. Following the completion of the transaction, the director now owns 28,500 shares in the company, valued at $253,935. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of HRZN traded up $2.38 during mid-day trading on Thursday, hitting $9.90. The company’s stock had a trading volume of 35,718 shares, compared to its average volume of 397,034. The company’s 50-day moving average is $11.42 and its 200-day moving average is $12.16. Horizon Technology Finance Corp has a 52-week low of $4.51 and a 52-week high of $13.78. The firm has a market capitalization of $109.30 million, a price-to-earnings ratio of 7.07 and a beta of 0.79.

Horizon Technology Finance (NASDAQ:HRZN) last announced its quarterly earnings results on Tuesday, March 3rd. The investment management company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.10. Horizon Technology Finance had a net margin of 45.21% and a return on equity of 12.30%. The firm had revenue of $12.98 million during the quarter, compared to analysts’ expectations of $10.15 million. Research analysts expect that Horizon Technology Finance Corp will post 1.3 EPS for the current year.

The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Tuesday, May 19th will be given a $0.10 dividend. The ex-dividend date is Monday, May 18th. This represents a $1.20 annualized dividend and a dividend yield of 12.12%. Horizon Technology Finance’s payout ratio is presently 78.95%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Virtus ETF Advisers LLC lifted its position in shares of Horizon Technology Finance by 2.2% in the 4th quarter. Virtus ETF Advisers LLC now owns 172,780 shares of the investment management company’s stock worth $2,234,000 after purchasing an additional 3,767 shares during the period. California Public Employees Retirement System lifted its position in shares of Horizon Technology Finance by 8.8% in the 4th quarter. California Public Employees Retirement System now owns 21,000 shares of the investment management company’s stock worth $272,000 after purchasing an additional 1,700 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Horizon Technology Finance by 6.3% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 16,161 shares of the investment management company’s stock worth $208,000 after purchasing an additional 961 shares during the period. Eqis Capital Management Inc. lifted its position in Horizon Technology Finance by 8.7% during the fourth quarter. Eqis Capital Management Inc. now owns 15,691 shares of the investment management company’s stock valued at $203,000 after acquiring an additional 1,258 shares during the last quarter. Finally, Millennium Management LLC purchased a new stake in Horizon Technology Finance during the third quarter valued at approximately $127,000. 10.66% of the stock is owned by hedge funds and other institutional investors.

Several research firms have issued reports on HRZN. Aegis raised shares of Horizon Technology Finance from a “hold” rating to a “buy” rating and set a $13.20 price objective for the company in a research report on Wednesday, March 4th. Maxim Group reissued a “buy” rating and issued a $13.50 price objective on shares of Horizon Technology Finance in a research report on Thursday, March 5th. Compass Point raised shares of Horizon Technology Finance from a “sell” rating to a “neutral” rating and set a $10.50 price objective for the company in a research report on Friday, February 28th. TheStreet cut shares of Horizon Technology Finance from a “b-” rating to a “c” rating in a research report on Tuesday. Finally, ValuEngine cut shares of Horizon Technology Finance from a “hold” rating to a “sell” rating in a research report on Wednesday, March 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. Horizon Technology Finance has an average rating of “Hold” and an average price target of $11.78.

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.

See Also: Initial Public Offering (IPO)

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