Graypoint LLC acquired a new position in Horizon Technology Finance Co. (NASDAQ:HRZN – Get Rating) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 29,000 shares of the investment management company's stock, valued at approximately $290,000. Graypoint LLC owned approximately 0.11% of Horizon Technology Finance at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of HRZN. Gitterman Wealth Management LLC boosted its holdings in Horizon Technology Finance by 17.1% in the third quarter. Gitterman Wealth Management LLC now owns 38,996 shares of the investment management company's stock worth $390,000 after acquiring an additional 5,699 shares in the last quarter. B. Riley Wealth Management Inc. bought a new position in shares of Horizon Technology Finance in the second quarter worth approximately $88,638,000. BDO Wealth Advisors LLC grew its holdings in shares of Horizon Technology Finance by 146.4% during the second quarter. BDO Wealth Advisors LLC now owns 5,890 shares of the investment management company's stock valued at $68,000 after buying an additional 3,500 shares during the last quarter. Millennium Management LLC raised its holdings in Horizon Technology Finance by 15.9% in the 2nd quarter. Millennium Management LLC now owns 52,652 shares of the investment management company's stock worth $608,000 after acquiring an additional 7,224 shares during the last quarter. Finally, Natixis Advisors L.P. raised its holdings in Horizon Technology Finance by 3.5% in the 2nd quarter. Natixis Advisors L.P. now owns 49,522 shares of the investment management company's stock worth $571,000 after acquiring an additional 1,659 shares during the last quarter. Institutional investors own 9.82% of the company's stock.
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Horizon Technology Finance Stock Up 0.5 %
NASDAQ HRZN opened at $12.36 on Friday. The firm has a market cap of $326.32 million, a price-to-earnings ratio of 15.26 and a beta of 1.15. Horizon Technology Finance Co. has a twelve month low of $9.67 and a twelve month high of $16.54. The business has a 50-day moving average price of $12.51 and a 200-day moving average price of $12.12.
Horizon Technology Finance (NASDAQ:HRZN – Get Rating) last posted its earnings results on Tuesday, November 1st. The investment management company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.10. The company had revenue of $23.25 million during the quarter, compared to analysts' expectations of $18.92 million. Horizon Technology Finance had a net
margin of 26.58% and a return on equity of 11.93%. Research analysts expect that Horizon Technology Finance Co. will post 1.42 EPS for the current fiscal year.
Horizon Technology Finance Announces Dividend
The company also recently announced a monthly dividend, which will be paid on Wednesday, March 15th. Investors of record on Friday, February 17th will be given a $0.11 dividend. The ex-dividend date is Thursday, February 16th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 10.68%. Horizon Technology Finance's dividend payout ratio is currently 162.96%.
Insider Buying and Selling at Horizon Technology Finance
In other news, President Gerald A. Michaud bought 18,250 shares of the stock in a transaction dated Tuesday, December 20th. The stock was purchased at an average cost of $11.03 per share, for a total transaction of $201,297.50. Following the transaction, the president now owns 144,585 shares of the company's stock, valued at $1,594,772.55. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In related news, President Gerald A. Michaud acquired 18,250 shares of Horizon Technology Finance stock in a transaction on Tuesday, December 20th. The shares were bought at an average cost of $11.03 per share, with a total value of $201,297.50. Following the completion of the purchase, the president now directly owns 144,585 shares of the company's stock, valued at approximately $1,594,772.55. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert D. Jr. Pomeroy acquired 4,000 shares of the stock in a transaction dated Friday, December 9th. The stock was bought at an average cost of $13.03 per share, with a total value of $52,120.00. Following the completion of the purchase, the chief executive officer now directly owns 172,821 shares in the company, valued at $2,251,857.63. The disclosure for this purchase can be found here. Insiders bought 27,008 shares of company stock worth $314,902 in the last quarter. 1.50% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on HRZN shares. StockNews.com assumed coverage on Horizon Technology Finance in a report on Wednesday, October 12th. They issued a "sell" rating for the company. Janney Montgomery Scott started coverage on shares of Horizon Technology Finance in a research note on Wednesday, October 5th. They set a "neutral" rating and a $10.00 target price for the company. Keefe, Bruyette & Woods lowered Horizon Technology Finance from a "market perform" rating to an "underperform" rating and cut their price objective for the stock from $11.50 to $10.50 in a report on Tuesday, December 20th. Finally, B. Riley reissued a "neutral" rating and issued a $10.50 target price on shares of Horizon Technology Finance in a report on Friday, September 16th. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $10.88.
Horizon Technology Finance Profile
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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.
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