Legal & General Group Plc Takes $1.82 Million Position in Horizon Technology Finance Corporation $HRZN

Legal & General Group Plc purchased a new stake in Horizon Technology Finance Corporation (NASDAQ:HRZN) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 386,211 shares of the investment management company’s stock, valued at approximately $1,821,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Tower Research Capital LLC TRC purchased a new position in Horizon Technology Finance during the 2nd quarter worth $60,000. Sanctuary Advisors LLC purchased a new stake in shares of Horizon Technology Finance in the 1st quarter worth $50,000. HRT Financial LP bought a new position in shares of Horizon Technology Finance during the 4th quarter worth $77,000. Patriot Financial Group Insurance Agency LLC bought a new position in shares of Horizon Technology Finance during the 1st quarter worth $52,000. Finally, Chapin Davis Inc. purchased a new position in shares of Horizon Technology Finance during the second quarter valued at $60,000. Institutional investors own 4.94% of the company’s stock.

Insider Buying and Selling at Horizon Technology Finance

In other news, CEO Michael Balkin bought 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The stock was bought at an average price of $4.34 per share, with a total value of $434,000.00. Following the completion of the transaction, the chief executive officer directly owned 223,527 shares of the company’s stock, valued at approximately $970,107.18. The trade was a 80.95% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CIO Paul G. Seitz bought 11,477 shares of the stock in a transaction on Tuesday, June 9th. The stock was purchased at an average price of $4.35 per share, with a total value of $49,924.95. Following the completion of the purchase, the executive owned 12,242 shares of the company’s stock, valued at $53,252.70. This represents a 1,500.26% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders bought 134,977 shares of company stock valued at $585,975. 0.29% of the stock is currently owned by corporate insiders.

Horizon Technology Finance Stock Performance

HRZN opened at $4.84 on Monday. The firm has a market cap of $324.43 million, a price-to-earnings ratio of 13.44 and a beta of 0.99. Horizon Technology Finance Corporation has a 12 month low of $3.80 and a 12 month high of $6.98. The stock has a fifty day moving average price of $4.68 and a 200-day moving average price of $4.59.

Horizon Technology Finance (NASDAQ:HRZN) last issued its quarterly earnings data on Tuesday, August 4th. The investment management company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). Horizon Technology Finance had a net margin of 5.27% and a return on equity of 11.15%. The company had revenue of ($44.66) million for the quarter, compared to the consensus estimate of $25.22 million. On average, equities research analysts forecast that Horizon Technology Finance Corporation will post 0.63 EPS for the current year.

Horizon Technology Finance Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, November 17th will be given a dividend of $0.06 per share. This represents a c) annualized dividend and a dividend yield of 14.9%. The ex-dividend date of this dividend is Tuesday, November 17th. Horizon Technology Finance’s dividend payout ratio is presently 200.00%.

Analyst Upgrades and Downgrades

HRZN has been the subject of several recent research reports. Oppenheimer decreased their price objective on Horizon Technology Finance from $6.00 to $5.00 and set a “market perform” rating for the company in a report on Friday, August 7th. Keefe, Bruyette & Woods cut their target price on shares of Horizon Technology Finance from $5.00 to $4.50 and set a “market perform” rating on the stock in a research report on Friday, August 21st. Weiss Ratings lowered shares of Horizon Technology Finance from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, August 19th. UBS Group boosted their price target on shares of Horizon Technology Finance from $4.25 to $4.50 and gave the company a “neutral” rating in a report on Tuesday, September 1st. Finally, Compass Point started coverage on shares of Horizon Technology Finance in a research report on Thursday, August 27th. They issued a “buy” rating and a $5.50 price target for the company. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $5.00.

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.