Trade Report: The Horizon Technology Finance Corp. (hrzn) Plans $0.12 Quarterly Dividend

The Horizon Technology Finance Corp. (hrzn) Plans $0.12 Quarterly Dividend

Horizon Technology Finance Corp. (NASDAQ:hrzn) announced a quarterly dividend on Wednesday, August 3rd. Stockholders of record on Thursday, October 20th will be given a dividend of 0.115 per share by the investment management company on Tuesday, November 15th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Tuesday, October 18th.

Shares of Horizon Technology Finance Corp. (NASDAQ:HRZN) opened at 13.73 on Thursday. Horizon Technology Finance Corp. has a 1-year low of $9.01 and a 1-year high of $13.95. The stock has a 50 day moving average price of $13.52 and a 200-day moving average price of $12.62.

Horizon Technology Finance Corp. (NASDAQ:HRZN) last announced its earnings results on Tuesday, August 2nd. The investment management company reported $0.39 EPS for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.05. The firm earned $9.09 million during the quarter, compared to analysts’ expectations of $8.69 million. Horizon Technology Finance Corp. had a return on equity of 10.80% and a net margin of 21.44%. The company’s quarterly revenue was up 32.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 EPS. On average, equities analysts anticipate that Horizon Technology Finance Corp. will post $1.45 EPS for the current fiscal year.

HRZN has been the subject of a number of recent analyst reports. National Securities restated a “buy” rating and set a $14.00 price objective on shares of Horizon Technology Finance Corp. in a report on Thursday, August 4th. Compass Point initiated coverage on Horizon Technology Finance Corp. in a report on Thursday, July 7th. They set a “neutral” rating and a $12.65 price objective for the company. Maxim Group cut Horizon Technology Finance Corp. from a “buy” rating to a “hold” rating and dropped their price objective for the company from $14.00 to $13.75 in a report on Thursday, August 4th. Oppenheimer Holdings Inc. cut Horizon Technology Finance Corp. from an “outperform” rating to a “market perform” rating in a report on Thursday, August 4th. Finally, Zacks Investment Research cut Horizon Technology Finance Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Horizon Technology Finance Corp. has a consensus rating of “Hold” and an average price target of $13.54.

A number of large investors have recently modified their holdings of the stock. Nuveen Fund Advisors LLC bought a new position in Horizon Technology Finance Corp. during the second quarter valued at approximately $207,000. JPMorgan Chase & Co. raised its position in Horizon Technology Finance Corp. by 130.2% in the second quarter. JPMorgan Chase & Co. now owns 27,343 shares of the investment management company’s stock valued at $334,000 after buying an additional 15,464 shares during the last quarter. Finally, Guggenheim Capital LLC raised its position in Horizon Technology Finance Corp. by 53.5% in the second quarter. Guggenheim Capital LLC now owns 72,216 shares of the investment management company’s stock valued at $881,000 after buying an additional 25,181 shares during the last quarter. 18.65% of the stock is owned by institutional investors and hedge funds.

About Horizon Technology Finance Corp.

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