Freedom Investment Management Inc. Reduces Stake in Horizon Technology Finance Co. (NASDAQ:HRZN)

Freedom Investment Management Inc. lowered its stake in shares of Horizon Technology Finance Co. (NASDAQ:HRZN) by 4.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 102,153 shares of the investment management company’s stock after selling 5,313 shares during the quarter. Freedom Investment Management Inc.’s holdings in Horizon Technology Finance were worth $1,088,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Green Alpha Advisors LLC grew its holdings in Horizon Technology Finance by 1.8% during the third quarter. Green Alpha Advisors LLC now owns 226,738 shares of the investment management company’s stock valued at $2,415,000 after purchasing an additional 3,928 shares during the period. ETF Store Inc. grew its stake in shares of Horizon Technology Finance by 3.7% during the 3rd quarter. ETF Store Inc. now owns 52,813 shares of the investment management company’s stock worth $562,000 after acquiring an additional 1,871 shares during the period. International Assets Investment Management LLC grew its stake in shares of Horizon Technology Finance by 810.1% during the 3rd quarter. International Assets Investment Management LLC now owns 50,055 shares of the investment management company’s stock worth $5,330,000 after acquiring an additional 44,555 shares during the period. First Financial Bank Trust Division purchased a new stake in Horizon Technology Finance in the 2nd quarter worth about $520,000. Finally, CANADA LIFE ASSURANCE Co raised its stake in Horizon Technology Finance by 17.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 32,204 shares of the investment management company’s stock valued at $367,000 after acquiring an additional 4,795 shares during the period. Institutional investors own 4.94% of the company’s stock.

Horizon Technology Finance Stock Up 0.5 %

Shares of HRZN opened at $9.29 on Thursday. Horizon Technology Finance Co. has a twelve month low of $9.07 and a twelve month high of $13.73. The stock has a market cap of $353.58 million, a PE ratio of -77.42 and a beta of 1.24. The business’s 50-day moving average price is $10.03 and its 200-day moving average price is $11.08.

Horizon Technology Finance (NASDAQ:HRZN) last posted its earnings results on Tuesday, October 29th. The investment management company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Horizon Technology Finance had a positive return on equity of 15.78% and a negative net margin of 3.69%. The firm had revenue of $24.56 million for the quarter, compared to the consensus estimate of $25.38 million. During the same period last year, the company posted $0.53 EPS. Analysts expect that Horizon Technology Finance Co. will post 1.38 earnings per share for the current fiscal year.

Horizon Technology Finance Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be given a $0.11 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 14.21%. Horizon Technology Finance’s dividend payout ratio (DPR) is presently -1,100.00%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HRZN. Keefe, Bruyette & Woods reduced their target price on shares of Horizon Technology Finance from $9.50 to $9.00 and set an “underperform” rating for the company in a research note on Thursday, August 1st. B. Riley reaffirmed a “sell” rating and issued a $9.00 price objective (down from $10.00) on shares of Horizon Technology Finance in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $9.63.

Horizon Technology Finance Company Profile

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, cleantech and sustainability industries.