Horizon Technology Finance Co. (HRZN) to Issue Monthly Dividend of $0.10 on November 15th

Horizon Technology Finance Co. (NASDAQ:HRZN – Get Rating) announced a monthly dividend on Thursday, August 4th, Wall Street Journal reports. Investors of record on Tuesday, October 18th will be paid a dividend of 0.10 per share by the investment management company on Tuesday, November 15th. This represents a $1.20 annualized dividend and a yield of 9.03%. The ex-dividend date is Monday, October 17th.

Horizon Technology Finance has increased its dividend by an average of 1.4% annually over the last three years. Horizon Technology Finance has a dividend payout ratio of 81.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Horizon Technology Finance to earn $1.30 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 92.3%.

Horizon Technology Finance Stock Performance

Shares of HRZN opened at $13.29 on Friday. The business has a 50-day moving average of $12.02 and a 200 day moving average of $13.36. Horizon Technology Finance has a fifty-two week low of $10.55 and a fifty-two week high of $19.08. The firm has a market cap of $337.30 million, a P/E ratio of 10.98 and a beta of 1.02.

Horizon Technology Finance (NASDAQ:HRZN – Get Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The investment management company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.04. Horizon Technology Finance had a return on equity of 11.55% and a net margin of 39.59%. During the same period last year, the company posted $0.31 earnings per share. As a group, research analysts predict that Horizon Technology Finance will post 1.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Compass Point raised Horizon Technology Finance from a “sell” rating to a “neutral” rating in a report on Wednesday, May 4th.

Insider Buying and Selling at Horizon Technology Finance

In related news, Director Joseph J. Savage bought 10,000 shares of Horizon Technology Finance stock in a transaction on Monday, May 16th. The stock was acquired at an average price of $12.23 per share, with a total value of $122,300.00. Following the acquisition, the director now directly owns 50,000 shares of the company’s stock, valued at $611,500. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Joseph J. Savage bought 10,000 shares of Horizon Technology Finance stock in a transaction on Monday, May 16th. The stock was acquired at an average price of $12.23 per share, with a total value of $122,300.00. Following the acquisition, the director now directly owns 50,000 shares of the company’s stock, valued at $611,500. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Gerald A. Michaud bought 3,050 shares of Horizon Technology Finance stock in a transaction on Monday, May 9th. The shares were bought at an average cost of $12.06 per share, with a total value of $36,783.00. Following the acquisition, the president now directly owns 121,899 shares in the company, valued at $1,470,101.94. The disclosure for this purchase can be found here. Insiders purchased 22,464 shares of company stock valued at $268,351 in the last quarter. 1.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Horizon Technology Finance

A number of large investors have recently modified their holdings of HRZN. Royal Bank of Canada boosted its position in shares of Horizon Technology Finance by 366.2% during the 1st quarter. Royal Bank of Canada now owns 28,967 shares of the investment management company’s stock valued at $402,000 after acquiring an additional 22,753 shares during the last quarter. Advisors Asset Management Inc. lifted its position in Horizon Technology Finance by 5.3% in the 1st quarter. Advisors Asset Management Inc. now owns 262,733 shares of the investment management company’s stock worth $3,652,000 after buying an additional 13,247 shares during the last quarter. Mackenzie Financial Corp lifted its position in Horizon Technology Finance by 8.0% in the 1st quarter. Mackenzie Financial Corp now owns 92,987 shares of the investment management company’s stock worth $1,293,000 after buying an additional 6,885 shares during the last quarter. Natixis Advisors L.P. lifted its position in Horizon Technology Finance by 14.1% in the 1st quarter. Natixis Advisors L.P. now owns 47,863 shares of the investment management company’s stock worth $665,000 after buying an additional 5,931 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its position in Horizon Technology Finance by 508.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,472 shares of the investment management company’s stock worth $76,000 after buying an additional 4,572 shares during the last quarter. Institutional investors own 11.30% of the company’s stock.

About Horizon Technology Finance

(Get Rating)

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.