Horizon Technology Finance Co. (NASDAQ:HRZN) Plans $0.10 Monthly Dividend

Horizon Technology Finance Co. (NASDAQ:HRZN – Get Rating) declared a monthly dividend on Thursday, August 4th, Wall Street Journal reports. Shareholders of record on Monday, September 19th will be given a dividend of 0.10 per share by the investment management company on Friday, October 14th. This represents a $1.20 annualized dividend and a dividend yield of 9.03%. The ex-dividend date of this dividend is Friday, September 16th.

Horizon Technology Finance has increased its dividend payment 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 Price Performance

NASDAQ:HRZN opened at $13.29 on Friday. Horizon Technology Finance has a one year low of $10.55 and a one year high of $19.08. The company has a market cap of $337.30 million, a P/E ratio of 10.98 and a beta of 1.02. The firm’s fifty day moving average price is $12.02 and its two-hundred day moving average price is $13.36.

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, Director Joseph J. Savage acquired 10,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 50,000 shares of the company’s stock, valued at approximately $611,500. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Robert D. Jr. Pomeroy acquired 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 21st. The stock was acquired at an average price of $11.30 per share, with a total value of $45,200.00. Following the completion of the transaction, the chief executive officer now directly owns 162,127 shares of the company’s stock, valued at approximately $1,832,035.10. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph J. Savage acquired 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The shares were purchased at an average cost of $12.23 per share, with a total value of $122,300.00. Following the transaction, the director now directly owns 50,000 shares of the company’s stock, valued at $611,500. The disclosure for this purchase can be found here. Insiders bought 22,464 shares of company stock valued at $268,351 over the last quarter. 1.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Horizon Technology Finance

Several institutional investors and hedge funds have recently bought and sold shares of HRZN. PNC Financial Services Group Inc. bought a new position in shares of Horizon Technology Finance in the first quarter worth about $28,000. Eqis Capital Management Inc. lifted its holdings in shares of Horizon Technology Finance by 1.7% in the first quarter. Eqis Capital Management Inc. now owns 192,095 shares of the investment management company’s stock worth $2,670,000 after acquiring an additional 3,203 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Horizon Technology Finance by 508.0% in the first quarter. BNP Paribas Arbitrage SA now owns 5,472 shares of the investment management company’s stock worth $76,000 after acquiring an additional 4,572 shares during the last quarter. Natixis Advisors L.P. lifted its holdings in shares of Horizon Technology Finance by 14.1% in the first quarter. Natixis Advisors L.P. now owns 47,863 shares of the investment management company’s stock worth $665,000 after acquiring an additional 5,931 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of Horizon Technology Finance by 8.0% in the first quarter. Mackenzie Financial Corp now owns 92,987 shares of the investment management company’s stock worth $1,293,000 after acquiring an additional 6,885 shares during the last quarter. Institutional investors own 11.30% of the company’s stock.

About Horizon Technology Finance

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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.