Horizon Technology Finance (NASDAQ:HRZN) CEO Michael Balkin Purchases 100,000 Shares

Horizon Technology Finance Corporation (NASDAQ:HRZN) CEO Michael Balkin bought 100,000 shares of the stock in a transaction on Tuesday, June 9th. The stock was acquired at an average cost of $4.34 per share, for a total transaction of $434,000.00. Following the acquisition, the chief executive officer directly owned 223,527 shares in the company, valued at approximately $970,107.18. The trade was a 80.95% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Horizon Technology Finance Stock Up 3.0%

HRZN opened at $4.44 on Thursday. The firm has a market capitalization of $303.07 million, a P/E ratio of 10.33 and a beta of 1.00. The stock’s 50 day moving average price is $4.30 and its two-hundred day moving average price is $5.45. 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 earnings results on Tuesday, May 5th. The investment management company reported $0.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $21.09 million. As a group, analysts anticipate that Horizon Technology Finance Corporation will post 0.69 earnings per share for the current year.

Horizon Technology Finance Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on HRZN shares. B. Riley Financial decreased their price objective on Horizon Technology Finance from $7.00 to $5.50 and set a “neutral” rating on the stock in a report on Friday, March 6th. Weiss Ratings restated a “sell (d+)” rating on shares of Horizon Technology Finance in a research report on Friday, May 8th. Keefe, Bruyette & Woods raised Horizon Technology Finance from an “underperform” rating to a “market perform” rating and set a $5.00 price target on the stock in a research note on Thursday, March 5th. UBS Group lowered their price target on Horizon Technology Finance from $4.50 to $4.25 and set a “neutral” rating on the stock in a research report on Monday, May 18th. Finally, Oppenheimer cut their price objective on Horizon Technology Finance from $7.00 to $6.00 and set a “market perform” rating for the company in a report on Tuesday, March 24th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $5.65.

Hedge Funds Weigh In On Horizon Technology Finance

A number of institutional investors and hedge funds have recently bought and sold shares of HRZN. Quantbot Technologies LP boosted its stake in Horizon Technology Finance by 300.7% in the second quarter. Quantbot Technologies LP now owns 17,332 shares of the investment management company’s stock worth $125,000 after purchasing an additional 13,007 shares in the last quarter. Marshall Wace LLP acquired a new position in Horizon Technology Finance in the second quarter worth $103,000. BNP Paribas Financial Markets bought a new stake in shares of Horizon Technology Finance during the second quarter worth $122,000. Oxford Asset Management LLP bought a new stake in shares of Horizon Technology Finance during the second quarter worth $285,000. Finally, Tower Research Capital LLC TRC bought a new stake in shares of Horizon Technology Finance during the second quarter worth $60,000. Institutional investors and hedge funds own 4.94% of the company’s stock.

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.