Key Points
- CEO Michael Balkin bought 100,000 Horizon Technology Finance shares at $4.34 each, spending a total of $434,000 and boosting his ownership by about 81%.
- The stock was trading up about 3% at $4.44, near the low end of its 52-week range, while the company carries a market cap of roughly $303 million.
- Analysts remain cautious overall: Horizon recently posted EPS in line with estimates, but Wall Street’s consensus rating is Hold with an average target price of $5.65, and the company also announced a $0.03 special dividend.
Horizon Technology Finance Corporation (NASDAQ:HRZN - Get Free Report) Director Jonathan Joseph Goodman bought 6,000 shares of the company's stock in a transaction on Tuesday, June 9th. The shares were acquired at an average price of $4.33 per share, with a total value of $25,980.00. Following the transaction, the director directly owned 8,312 shares in the company, valued at approximately $35,990.96. The trade was a 259.52% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this link.
Horizon Technology Finance Stock Performance
Shares of Horizon Technology Finance stock opened at $4.44 on Thursday. The firm has a fifty day moving average of $4.30 and a two-hundred day moving average of $5.45. The stock has a market capitalization of $303.07 million, a price-to-earnings ratio of 10.33 and a beta of 1.00. Horizon Technology Finance Corporation has a 52 week low of $3.80 and a 52 week high of $8.46.
Horizon Technology Finance (NASDAQ:HRZN - Get Free Report) last issued 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 company had revenue of ($6.19) million during the quarter, compared to analysts' expectations of $21.09 million. Horizon Technology Finance had a net margin of 22.55% and a return on equity of 13.63%. As a group, research analysts forecast that Horizon Technology Finance Corporation will post 0.69 EPS for the current fiscal year.
Horizon Technology Finance Dividend Announcement
The business also recently declared a special dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 17th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Monday, August 17th. Horizon Technology Finance's dividend payout ratio is 167.44%.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on HRZN shares. UBS Group lowered their price target on Horizon Technology Finance from $4.50 to $4.25 and set a "neutral" rating for the company in a research note on Monday, May 18th. Keefe, Bruyette & Woods raised Horizon Technology Finance from an "underperform" rating to a "market perform" rating and set a $5.00 price objective on the stock in a research note on Thursday, March 5th. Zacks Research raised Horizon Technology Finance from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 7th. Oppenheimer dropped their price objective on Horizon Technology Finance from $7.00 to $6.00 and set a "market perform" rating on the stock in a research note on Tuesday, March 24th. Finally, Wall Street Zen downgraded Horizon Technology Finance from a "buy" rating to a "hold" rating in a research note on Saturday, March 7th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $5.65.
Read Our Latest Analysis on Horizon Technology Finance
Institutional Trading of Horizon Technology Finance
Large investors have recently bought and sold shares of the business. Quantbot Technologies LP increased its stake in Horizon Technology Finance by 300.7% during the 2nd quarter. Quantbot Technologies LP now owns 17,332 shares of the investment management company's stock worth $125,000 after purchasing an additional 13,007 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in Horizon Technology Finance during the 2nd quarter worth approximately $122,000. Virtu Financial LLC bought a new stake in Horizon Technology Finance during the 3rd quarter worth approximately $119,000. Marshall Wace LLP bought a new stake in Horizon Technology Finance during the 2nd quarter worth approximately $103,000. Finally, HRT Financial LP bought a new stake in Horizon Technology Finance during the 4th quarter worth approximately $77,000. 4.94% of the stock is owned by institutional investors.
About Horizon Technology Finance
(
Get Free Report)
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.
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