Horizon Technology Finance Corp (NASDAQ:HRZN) – Equities researchers at B. Riley lowered their Q1 2020 earnings per share (EPS) estimates for shares of Horizon Technology Finance in a research note issued on Tuesday, March 24th. B. Riley analyst T. Hayes now anticipates that the investment management company will post earnings per share of $0.29 for the quarter, down from their previous forecast of $0.30. B. Riley currently has a “Neutral” rating and a $8.50 target price on the stock. B. Riley also issued estimates for Horizon Technology Finance’s Q2 2020 earnings at $0.30 EPS, Q3 2020 earnings at $0.30 EPS, Q4 2020 earnings at $0.30 EPS, FY2020 earnings at $1.20 EPS, Q1 2021 earnings at $0.28 EPS, Q2 2021 earnings at $0.32 EPS, Q3 2021 earnings at $0.33 EPS, Q4 2021 earnings at $0.33 EPS and FY2021 earnings at $1.26 EPS.
Horizon Technology Finance (NASDAQ:HRZN) last announced its earnings results on Tuesday, March 3rd. The investment management company reported $0.43 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.10. The firm had revenue of $12.98 million for the quarter, compared to analysts’ expectations of $10.15 million. Horizon Technology Finance had a net margin of 45.21% and a return on equity of 12.30%.
Shares of Horizon Technology Finance stock opened at $9.34 on Thursday. The stock has a market cap of $109.30 million, a price-to-earnings ratio of 6.53 and a beta of 0.79. The firm’s 50-day moving average is $11.34 and its 200 day moving average is $12.15. Horizon Technology Finance has a 1 year low of $4.51 and a 1 year high of $13.78.
The business also recently declared a monthly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Tuesday, May 19th will be paid a $0.10 dividend. The ex-dividend date is Monday, May 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 12.85%. Horizon Technology Finance’s dividend payout ratio is presently 78.95%.
In related news, Director Joseph J. Savage purchased 8,000 shares of Horizon Technology Finance stock in a transaction dated Friday, March 20th. The stock was purchased at an average cost of $7.02 per share, for a total transaction of $56,160.00. Also, CEO Robert D. Jr. Pomeroy purchased 4,000 shares of Horizon Technology Finance stock in a transaction dated Friday, March 13th. The stock was bought at an average price of $10.75 per share, with a total value of $43,000.00. Following the completion of the purchase, the chief executive officer now directly owns 102,498 shares of the company’s stock, valued at $1,101,853.50. The disclosure for this purchase can be found here. Insiders bought 20,421 shares of company stock valued at $162,240 over the last quarter. Company insiders own 1.50% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Virtus ETF Advisers LLC grew its stake in shares of Horizon Technology Finance by 2.2% in the fourth quarter. Virtus ETF Advisers LLC now owns 172,780 shares of the investment management company’s stock worth $2,234,000 after acquiring an additional 3,767 shares during the period. California Public Employees Retirement System grew its stake in shares of Horizon Technology Finance by 8.8% in the fourth quarter. California Public Employees Retirement System now owns 21,000 shares of the investment management company’s stock worth $272,000 after acquiring an additional 1,700 shares during the period. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Horizon Technology Finance by 6.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 16,161 shares of the investment management company’s stock worth $208,000 after acquiring an additional 961 shares during the period. Eqis Capital Management Inc. grew its position in Horizon Technology Finance by 8.7% during the fourth quarter. Eqis Capital Management Inc. now owns 15,691 shares of the investment management company’s stock valued at $203,000 after buying an additional 1,258 shares during the period. Finally, Millennium Management LLC bought a new stake in Horizon Technology Finance during the third quarter valued at approximately $127,000. Hedge funds and other institutional investors own 10.66% of the company’s stock.
About Horizon Technology Finance
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.
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