Insider Buying: Horizon Technology Finance (NASDAQ:HRZN) CFO Purchases 11,500 Shares of Stock

Horizon Technology Finance Corporation (NASDAQ:HRZN) CFO Daniel Trolio acquired 11,500 shares of the stock in a transaction dated Wednesday, June 10th. The shares were acquired at an average cost of $4.34 per share, with a total value of $49,910.00. Following the completion of the transaction, the chief financial officer owned 15,023 shares in the company, valued at approximately $65,199.82. This represents a 326.43% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Horizon Technology Finance Stock Up 2.8%

HRZN traded up $0.12 on Wednesday, hitting $4.43. 667,360 shares of the company traded hands, compared to its average volume of 1,015,078. The company has a 50 day moving average of $4.30 and a 200-day moving average of $5.46. The stock has a market capitalization of $302.39 million, a PE ratio of 10.30 and a beta of 1.00. Horizon Technology Finance Corporation has a 12-month low of $3.80 and a 12-month high of $8.46.

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

Horizon Technology Finance Dividend Announcement

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

Institutional Trading of Horizon Technology Finance

A number of hedge funds and other institutional investors have recently modified their holdings of HRZN. N.E.W. Advisory Services LLC increased its position in shares of 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 acquiring an additional 2,000 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Horizon Technology Finance during the first quarter worth about $50,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of Horizon Technology Finance during the first quarter worth about $52,000. Tower Research Capital LLC TRC purchased a new stake in shares of Horizon Technology Finance during the second quarter worth about $60,000. Finally, Nations Financial Group Inc. IA ADV purchased a new stake in shares of Horizon Technology Finance during the fourth quarter worth about $67,000. 4.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Wall Street Zen lowered Horizon Technology Finance from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Keefe, Bruyette & Woods raised Horizon Technology Finance from an “underperform” rating to a “market perform” rating and set a $5.00 price objective on the stock in a research report on Thursday, March 5th. Oppenheimer reduced their price objective on Horizon Technology Finance from $7.00 to $6.00 and set a “market perform” rating on the stock in a research note on Tuesday, March 24th. Zacks Research upgraded Horizon Technology Finance from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 7th. Finally, UBS Group reduced their price objective on Horizon Technology Finance from $4.50 to $4.25 and set a “neutral” rating on the stock in a research note on Monday, May 18th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $5.65.

Horizon Technology Finance Company Profile

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.