Horizon Technology Finance Co. (NASDAQ:HRZN) Plans $0.10 Monthly Dividend

Horizon Technology Finance Co. (NASDAQ:HRZNGet Rating) declared a monthly dividend on Friday, August 5th, Wall Street Journal reports. Stockholders of record on Thursday, November 17th will be paid a dividend of 0.10 per share by the investment management company on Thursday, December 15th. This represents a $1.20 annualized dividend and a dividend yield of 9.04%. The ex-dividend date is Wednesday, November 16th.

Horizon Technology Finance has raised its dividend by an average of 1.4% per year over the last three years. Horizon Technology Finance has a dividend payout ratio of 81.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Horizon Technology Finance to earn $1.30 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 92.3%.

Horizon Technology Finance Price Performance

Shares of HRZN stock traded down $0.20 during trading hours on Friday, hitting $13.27. The company had a trading volume of 3,757 shares, compared to its average volume of 152,555. The company’s fifty day moving average is $12.00 and its 200 day moving average is $13.38. Horizon Technology Finance has a fifty-two week low of $10.55 and a fifty-two week high of $19.08. The stock has a market capitalization of $336.79 million, a PE ratio of 11.13 and a beta of 1.02.

Horizon Technology Finance (NASDAQ:HRZNGet Rating) last issued its quarterly earnings data on Tuesday, August 2nd. The investment management company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.31 by $0.04. Horizon Technology Finance had a net margin of 39.59% and a return on equity of 11.55%. During the same period last year, the company posted $0.31 EPS. Equities analysts forecast that Horizon Technology Finance will post 1.24 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Compass Point raised shares of Horizon Technology Finance from a “sell” rating to a “neutral” rating in a research note on Wednesday, May 4th.

Insider Buying and Selling

In other Horizon Technology Finance news, President Gerald A. Michaud bought 3,050 shares of the business’s stock in a transaction that occurred on Monday, May 9th. The shares were purchased at an average cost of $12.06 per share, with a total value of $36,783.00. Following the purchase, the president now directly owns 121,899 shares in the company, valued at $1,470,101.94. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, President Gerald A. Michaud acquired 3,050 shares of the company’s stock in a transaction on Monday, May 9th. The shares were bought at an average cost of $12.06 per share, with a total value of $36,783.00. Following the transaction, the president now owns 121,899 shares in the company, valued at approximately $1,470,101.94. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert D. Jr. Pomeroy acquired 4,000 shares of the company’s stock in a transaction on Tuesday, June 21st. The stock was purchased at an average cost of $11.30 per share, for a total transaction of $45,200.00. Following the completion of the transaction, the chief executive officer now owns 162,127 shares in the company, valued at approximately $1,832,035.10. The disclosure for this purchase can be found here. Insiders have acquired a total of 22,464 shares of company stock valued at $268,351 in the last ninety days. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Horizon Technology Finance

A number of large investors have recently modified their holdings of HRZN. BNP Paribas Arbitrage SA boosted its holdings in shares of Horizon Technology Finance by 508.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,472 shares of the investment management company’s stock valued at $76,000 after buying an additional 4,572 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Horizon Technology Finance by 5.3% in the 1st quarter. Advisors Asset Management Inc. now owns 262,733 shares of the investment management company’s stock valued at $3,652,000 after buying an additional 13,247 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Horizon Technology Finance by 366.2% in the 1st quarter. Royal Bank of Canada now owns 28,967 shares of the investment management company’s stock valued at $402,000 after buying an additional 22,753 shares in the last quarter. Eqis Capital Management Inc. boosted its holdings in shares of Horizon Technology Finance by 1.7% in the 1st quarter. Eqis Capital Management Inc. now owns 192,095 shares of the investment management company’s stock valued at $2,670,000 after buying an additional 3,203 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of Horizon Technology Finance by 8.0% in the 1st quarter. Mackenzie Financial Corp now owns 92,987 shares of the investment management company’s stock valued at $1,293,000 after buying an additional 6,885 shares in the last quarter. 11.30% of the stock is owned by hedge funds and other institutional investors.

About Horizon Technology Finance

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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.

Further Reading

Dividend History for Horizon Technology Finance (NASDAQ:HRZN)

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