Insider Buying: Horizon Technology Finance (NASDAQ:HRZN) CIO Acquires $49,924.95 in Stock

Horizon Technology Finance Corporation (NASDAQ:HRZN) CIO Paul Seitz bought 11,477 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were acquired at an average cost of $4.35 per share, with a total value of $49,924.95. Following the acquisition, the executive directly owned 12,242 shares of the company’s stock, valued at approximately $53,252.70. This 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 this hyperlink.

Horizon Technology Finance Stock Down 4.6%

Horizon Technology Finance stock opened at $4.36 on Friday. Horizon Technology Finance Corporation has a 52-week low of $3.80 and a 52-week high of $8.46. The firm has a market capitalization of $297.61 million, a price-to-earnings ratio of 10.14 and a beta of 1.00. The company has a fifty day simple moving average of $4.31 and a 200-day simple moving average of $5.43.

Horizon Technology Finance (NASDAQ:HRZN) last released its earnings results on Tuesday, May 5th. The investment management company reported $0.19 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.19. Horizon Technology Finance had a net margin of 22.55% and a return on equity of 13.63%. The business had revenue of ($6.19) million during the quarter, compared to analyst estimates of $21.09 million. On average, research analysts anticipate that Horizon Technology Finance Corporation will post 0.69 EPS for the current fiscal year.

Horizon Technology Finance Announces Dividend

The company also recently disclosed a special dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 17th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Monday, August 17th. Horizon Technology Finance’s dividend payout ratio is currently 167.44%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Wall Street Zen lowered shares of Horizon Technology Finance from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Weiss Ratings reissued a “sell (d+)” rating on shares of Horizon Technology Finance in a report on Friday, May 8th. UBS Group dropped their price objective on shares of Horizon Technology Finance from $4.50 to $4.25 and set a “neutral” rating for the company in a report on Monday, May 18th. Zacks Research raised shares of Horizon Technology Finance from a “strong sell” rating to a “hold” rating in a report on Thursday, May 7th. Finally, B. Riley Financial dropped their price objective on shares of Horizon Technology Finance from $7.00 to $5.50 and set a “neutral” rating for the company in a report on Friday, March 6th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Horizon Technology Finance currently has an average rating of “Hold” and an average price target of $5.65.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. N.E.W. Advisory Services LLC boosted its stake in Horizon Technology Finance by 100.0% during the fourth quarter. N.E.W. Advisory Services LLC now owns 4,000 shares of the investment management company’s stock worth $26,000 after buying an additional 2,000 shares during the period. Sanctuary Advisors LLC purchased a new position in Horizon Technology Finance during the first quarter worth about $50,000. Patriot Financial Group Insurance Agency LLC purchased a new position in Horizon Technology Finance during the first quarter worth about $52,000. Tower Research Capital LLC TRC purchased a new position in Horizon Technology Finance during the second quarter worth about $60,000. Finally, Nations Financial Group Inc. IA ADV purchased a new position in Horizon Technology Finance during the fourth quarter worth about $67,000. Hedge funds and other 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.