Virtus Investment Advisers LLC Grows Stock Position in Horizon Technology Finance Corporation $HRZN

Virtus Investment Advisers LLC increased its stake in Horizon Technology Finance Corporation (NASDAQ:HRZN) by 25.6% in the second quarter, HoldingsChannel reports. The fund owned 177,768 shares of the investment management company’s stock after purchasing an additional 36,226 shares during the period. Virtus Investment Advisers LLC’s holdings in Horizon Technology Finance were worth $1,280,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Allworth Financial LP purchased a new position in Horizon Technology Finance in the 2nd quarter worth approximately $73,000. Y Intercept Hong Kong Ltd bought a new position in shares of Horizon Technology Finance in the second quarter worth approximately $77,000. Green Alpha Advisors LLC increased its stake in shares of Horizon Technology Finance by 8.1% in the second quarter. Green Alpha Advisors LLC now owns 387,726 shares of the investment management company’s stock worth $2,792,000 after buying an additional 28,984 shares during the period. International Assets Investment Management LLC bought a new stake in Horizon Technology Finance during the 2nd quarter valued at $411,000. Finally, N.E.W. Advisory Services LLC bought a new stake in Horizon Technology Finance during the 1st quarter valued at $36,000. 4.94% of the stock is currently owned by institutional investors.

Horizon Technology Finance Price Performance

Shares of NASDAQ HRZN opened at $6.71 on Friday. Horizon Technology Finance Corporation has a 1 year low of $5.70 and a 1 year high of $9.99. The stock has a market capitalization of $297.81 million, a P/E ratio of -10.01 and a beta of 1.00. The company’s 50-day moving average is $6.31 and its 200 day moving average is $7.03.

Horizon Technology Finance (NASDAQ:HRZN) last posted its quarterly earnings data on Tuesday, October 28th. The investment management company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.03. Horizon Technology Finance had a positive return on equity of 15.01% and a negative net margin of 24.19%.The business had revenue of $26.32 million for the quarter, compared to analysts’ expectations of $22.99 million. Research analysts anticipate that Horizon Technology Finance Corporation will post 1.38 earnings per share for the current year.

Horizon Technology Finance Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, March 13th. Investors of record on Tuesday, February 17th will be paid a $0.11 dividend. This represents a c) annualized dividend and a yield of 19.7%. The ex-dividend date of this dividend is Tuesday, February 17th. Horizon Technology Finance’s dividend payout ratio is presently -197.01%.

Analyst Ratings Changes

A number of research firms have issued reports on HRZN. UBS Group boosted their price objective on shares of Horizon Technology Finance from $6.25 to $6.50 and gave the company a “neutral” rating in a research report on Wednesday, November 19th. Maxim Group cut their target price on Horizon Technology Finance from $10.00 to $7.50 and set a “buy” rating on the stock in a research note on Monday, August 11th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Horizon Technology Finance in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded Horizon Technology Finance from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $7.00.

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, cleantech and sustainability industries.