Gerald A. Michaud Purchases 18,250 Shares of Horizon Technology Finance Co. (NASDAQ:HRZN) Stock
Horizon Technology Finance Co. (NASDAQ:HRZN – Get Rating) President Gerald A. Michaud purchased 18,250 shares of the business’s stock in a transaction on 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 acquisition, the president now owns 144,585 shares in the company, valued at $1,594,772.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Horizon Technology Finance Stock Performance
Shares of NASDAQ HRZN traded up $0.37 during mid-day trading on Wednesday, hitting $11.42. 1,329 shares of the stock traded hands, compared to its average volume of 184,004. The company has a market cap of $301.50 million, a price-to-earnings ratio of 13.64 and a beta of 1.14. The stock has a fifty day moving average price of $12.30 and a 200-day moving average price of $12.09. Horizon Technology Finance Co. has a 52 week low of $9.67 and a 52 week high of $16.54.
Horizon Technology Finance (NASDAQ:HRZN – Get Rating) last announced its earnings results on Tuesday, November 1st. The investment management company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.10. The firm had revenue of $23.25 million for 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%. As a group, sell-side analysts predict that Horizon Technology Finance Co. will post 1.42 EPS for the current fiscal year.
Horizon Technology Finance Dividend Announcement
The firm also recently announced a monthly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Friday, February 17th will be issued a dividend of $0.11 per share. The ex-dividend date is Thursday, February 16th. This represents a $1.32 annualized dividend and a dividend yield of 11.56%. Horizon Technology Finance’s payout ratio is 162.96%.
Analysts Set New Price Targets
HRZN has been the subject of a number of analyst reports. Janney Montgomery Scott started coverage on shares of Horizon Technology Finance in a report on Wednesday, October 5th. They set a “neutral” rating and a $10.00 target price for the company. UBS Group began coverage on Horizon Technology Finance in a research report on Friday, September 9th. They issued a “neutral” rating and a $12.50 price objective on the stock. B. Riley reaffirmed a “neutral” rating and issued a $10.50 price target on shares of Horizon Technology Finance in a research note on Friday, September 16th. Keefe, Bruyette & Woods cut shares of Horizon Technology Finance from a “market perform” rating to an “underperform” rating and cut their price target for the company from $11.50 to $10.50 in a report on Tuesday. Finally, StockNews.com started coverage on shares of Horizon Technology Finance in a report on Wednesday, October 12th. They issued a “sell” rating for the company. Two equities research 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 stock presently has an average rating of “Hold” and an average price target of $10.88.
Institutional Trading of Horizon Technology Finance
A number of hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. purchased a new position in Horizon Technology Finance during the first quarter valued at $28,000. JPMorgan Chase & Co. increased its holdings in shares of Horizon Technology Finance by 86.5% during the second quarter. JPMorgan Chase & Co. now owns 3,969 shares of the investment management company’s stock valued at $46,000 after acquiring an additional 1,841 shares in the last quarter. BNP Paribas Arbitrage SNC purchased a new position in shares of Horizon Technology Finance in the 3rd quarter worth about $52,000. BDO Wealth Advisors LLC grew its position in Horizon Technology Finance by 146.4% during the 2nd quarter. BDO Wealth Advisors LLC now owns 5,890 shares of the investment management company’s stock valued at $68,000 after purchasing an additional 3,500 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in Horizon Technology Finance by 508.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,472 shares of the investment management company’s stock valued at $76,000 after purchasing an additional 4,572 shares in the last quarter. 12.53% of the stock is owned by institutional investors.
Horizon Technology Finance Company Profile
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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