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Horizon Technology Finance Co. (NASDAQ:HRZN – Get Rating) – Investment analysts at B. Riley lifted their Q1 2023 earnings per share estimates for shares of Horizon Technology Finance in a research report issued on Thursday, March 2nd. B. Riley analyst B. Rowe now forecasts that the investment management company will post earnings per share of $0.36 for the quarter, up from their previous forecast of $0.35. The consensus estimate for Horizon Technology Finance’s current full-year earnings is $1.57 per share. B. Riley also issued estimates for Horizon Technology Finance’s Q2 2023 earnings at $0.38 EPS and FY2023 earnings at $1.52 EPS.
Separately, Keefe, Bruyette & Woods cut Horizon Technology Finance from a “market perform” rating to an “underperform” rating and cut their target price for the stock from $11.50 to $10.50 in a report on Tuesday, December 20th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat.com, Horizon Technology Finance has a consensus rating of “Hold” and an average price target of $10.88.
Horizon Technology Finance Stock Performance
HRZN stock opened at $11.54 on Friday. Horizon Technology Finance has a fifty-two week low of $9.67 and a fifty-two week high of $15.59. The stock’s 50 day simple moving average is $12.16 and its 200 day simple moving average is $12.08. The company has a market cap of $326.81 million, a P/E ratio of 13.58 and a beta of 1.17.
Horizon Technology Finance Dividend Announcement
The business also recently disclosed a monthly dividend, which will be paid on Tuesday, May 16th. Stockholders of record on Tuesday, April 18th will be paid a $0.11 dividend. This represents a $1.32 annualized dividend and a dividend yield of 11.44%. The ex-dividend date is Monday, April 17th. Horizon Technology Finance’s dividend payout ratio (DPR) is presently 155.29%.
Insider Activity
In related news, CEO Robert D. Jr. Pomeroy purchased 4,000 shares of the firm’s stock in a transaction that occurred on Friday, December 9th. The stock was acquired at an average price of $13.03 per share, for a total transaction of $52,120.00. Following the completion of the acquisition, the chief executive officer now owns 172,821 shares of the company’s stock, valued at approximately $2,251,857.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Robert D. Jr. Pomeroy purchased 4,000 shares of the business’s stock in a transaction that occurred on Friday, December 9th. The shares were acquired at an average cost of $13.03 per share, for a total transaction of $52,120.00. Following the completion of the acquisition, the chief executive officer now owns 172,821 shares in the company, valued at $2,251,857.63. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Gerald A. Michaud acquired 18,250 shares of the firm’s stock in a transaction on Tuesday, December 20th. The stock was purchased at an average price of $11.03 per share, with a total value of $201,297.50. Following the purchase, the president now owns 144,585 shares in the company, valued at approximately $1,594,772.55. The disclosure for this purchase can be found here. Insiders have purchased 26,250 shares of company stock worth $305,018 over the last 90 days. 1.50% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Horizon Technology Finance
Several large investors have recently made changes to their positions in HRZN. PNC Financial Services Group Inc. bought a new position in Horizon Technology Finance during the first quarter valued at about $28,000. JPMorgan Chase & Co. increased its stake in shares of Horizon Technology Finance by 86.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,969 shares of the investment management company’s stock worth $46,000 after purchasing an additional 1,841 shares during the last quarter. BNP Paribas Arbitrage SNC bought a new stake in shares of Horizon Technology Finance in the 3rd quarter worth approximately $52,000. BDO Wealth Advisors LLC lifted its stake in Horizon Technology Finance by 146.4% in the second 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 grew its holdings in Horizon Technology Finance by 508.0% during the first 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 during the period. 9.82% of the stock is owned by hedge funds and other institutional investors.
About Horizon Technology Finance
Horizon Technology Finance Corp. operates as a specialty finance company, which engages in the provision of capital in the form of secured loans to venture capital backed companies. It is also involved in lending and investing in portfolio companies in technology, life science, healthcare information and services and cleantech industries.
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