Horizon Technology Finance Corporation (NASDAQ:HRZN) Plans Monthly Dividend of $0.06

Horizon Technology Finance Corporation (NASDAQ:HRZN) declared a monthly dividend on Tuesday, August 4th. Investors of record on Tuesday, November 17th will be given a dividend of 0.06 per share by the investment management company on Tuesday, December 15th. This represents a c) dividend on an annualized basis and a yield of 17.2%. The ex-dividend date of this dividend is Tuesday, November 17th.

Horizon Technology Finance has raised its dividend by an average of 0.0%annually over the last three years. Horizon Technology Finance has a dividend payout ratio of 62.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Horizon Technology Finance to earn $0.81 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 88.9%.

Horizon Technology Finance Trading Down 7.9%

Shares of HRZN opened at $4.19 on Wednesday. The firm has a market cap of $286.01 million, a price-to-earnings ratio of 9.74 and a beta of 0.98. The stock has a 50 day moving average of $4.48 and a 200-day moving average of $4.88. Horizon Technology Finance has a 52 week low of $3.80 and a 52 week high of $7.76.

Horizon Technology Finance (NASDAQ:HRZN) last released its earnings results on Tuesday, August 4th. The investment management company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.02). Horizon Technology Finance had a net margin of 22.55% and a return on equity of 13.63%. The business had revenue of ($44.66) million for the quarter, compared to the consensus estimate of $25.22 million. On average, sell-side analysts predict that Horizon Technology Finance will post 0.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Horizon Technology Finance

In other Horizon Technology Finance news, CIO Paul G. Seitz acquired 11,477 shares of Horizon Technology Finance stock in a transaction that occurred on Tuesday, June 9th. The stock was acquired at an average price of $4.35 per share, with a total value of $49,924.95. Following the purchase, the executive owned 12,242 shares in the company, valued at approximately $53,252.70. This trade represents a 1,500.26% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan Joseph Goodman purchased 6,000 shares of Horizon Technology Finance stock in a transaction on Tuesday, June 9th. The stock was bought at an average cost of $4.33 per share, with a total value of $25,980.00. Following the transaction, the director directly owned 8,312 shares of the company’s stock, valued at approximately $35,990.96. The trade was a 259.52% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 134,977 shares of company stock worth $585,975 in the last ninety days. Company insiders own 0.29% of the company’s stock.

Institutional Trading of Horizon Technology Finance

Several hedge funds have recently added to or reduced their stakes in the business. N.E.W. Advisory Services LLC boosted its position in shares of Horizon Technology Finance by 100.0% in the fourth quarter. N.E.W. Advisory Services LLC now owns 4,000 shares of the investment management company’s stock valued at $26,000 after acquiring an additional 2,000 shares during the period. Sanctuary Advisors LLC acquired a new stake in Horizon Technology Finance during the first quarter worth about $50,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in Horizon Technology Finance during the first quarter worth about $52,000. Tower Research Capital LLC TRC bought a new position in Horizon Technology Finance during the second quarter valued at about $60,000. Finally, Chapin Davis Inc. bought a new position in Horizon Technology Finance during the second quarter valued at about $60,000. Institutional investors own 4.94% of the company’s stock.

About Horizon Technology Finance

Horizon Technology Finance Corporation is a specialty finance company organized as a business development company (BDC) that provides private credit solutions to venture capital and private equity-backed technology, life science and healthcare companies. The firm targets companies at various stages of development, offering secured debt financing structures such as first‐lien and second‐lien loans, as well as equity co‐investment opportunities in select portfolio companies.

Horizon Technology Finance’s investment strategy emphasizes deployment of capital in U.S.‐based enterprises with proven technology, strong management teams and clear paths to growth.