Horizon Technology Finance Corporation (NASDAQ:HRZN) Announces Dividend of $0.03

Horizon Technology Finance Corporation (NASDAQ:HRZN) announced a dividend on Tuesday, May 5th. Investors of record on Monday, August 17th will be paid a dividend of 0.03 per share by the investment management company on Tuesday, September 15th. The ex-dividend date of this dividend is Monday, August 17th.

Horizon Technology Finance has increased its dividend payment by an average of 0.0%per year over the last three years. Horizon Technology Finance has a dividend payout ratio of 62.6% meaning its dividend is sufficiently covered by earnings. Equities 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 Up 4.1%

NASDAQ:HRZN traded up $0.17 during mid-day trading on Wednesday, hitting $4.40. The stock had a trading volume of 819,628 shares, compared to its average volume of 1,042,853. The stock has a market capitalization of $210.56 million, a price-to-earnings ratio of -27.41 and a beta of 0.99. The company has a 50 day simple moving average of $4.55 and a 200-day simple moving average of $5.82. Horizon Technology Finance has a 52 week low of $3.80 and a 52 week high of $8.46.

Horizon Technology Finance (NASDAQ:HRZN) last released its earnings results on Tuesday, May 5th. The investment management company reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. The firm had revenue of ($6.19) million for the quarter, compared to analysts’ expectations of $21.09 million. Horizon Technology Finance had a negative net margin of 2.77% and a positive return on equity of 14.52%. As a group, equities research analysts anticipate that Horizon Technology Finance will post 0.78 earnings per share for the current year.

Hedge Funds Weigh In On Horizon Technology Finance

Several hedge funds have recently made changes to their positions in HRZN. Eagle Point Credit Management LLC acquired a new position in shares of Horizon Technology Finance in the 4th quarter worth approximately $2,385,000. Millennium Management LLC purchased a new position in shares of Horizon Technology Finance in the third quarter worth approximately $1,099,000. Magnetar Financial LLC purchased a new position in shares of Horizon Technology Finance in the third quarter worth approximately $435,000. Aquatic Capital Management LLC purchased a new position in shares of Horizon Technology Finance in the third quarter worth approximately $395,000. Finally, Green Alpha Advisors LLC increased its position in shares of Horizon Technology Finance by 11.8% in the fourth quarter. Green Alpha Advisors LLC now owns 558,944 shares of the investment management company’s stock worth $3,605,000 after acquiring an additional 58,915 shares in the last quarter. Institutional investors and hedge funds 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.