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Horizon Technology Finance Co. (NASDAQ:HRZN – Get Rating) declared a monthly dividend on Thursday, March 3rd, Wall Street Journal reports. Shareholders of record on Friday, March 18th will be given a dividend of 0.10 per share by the investment management company on Thursday, April 14th. This represents a $1.20 annualized dividend and a yield of 8.90%. The ex-dividend date of this dividend is Thursday, March 17th.
Horizon Technology Finance has a payout ratio of 82.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Horizon Technology Finance to earn $1.44 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 83.3%.
NASDAQ HRZN opened at $13.49 on Tuesday. Horizon Technology Finance has a twelve month low of $13.21 and a twelve month high of $19.08. The stock has a market cap of $289.68 million, a PE ratio of 9.71 and a beta of 1.05. The business’s 50 day moving average price is $15.41.
Horizon Technology Finance (NASDAQ:HRZN – Get Rating) last issued its earnings results on Tuesday, March 1st. The investment management company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.05. The company had revenue of $16.95 million during the quarter, compared to analyst estimates of $14.77 million. Horizon Technology Finance had a net margin of 46.29% and a return on equity of 12.20%. As a group, research analysts expect that Horizon Technology Finance will post 1.36 earnings per share for the current year.
Several large investors have recently bought and sold shares of the company. Royal Bank of Canada increased its stake in Horizon Technology Finance by 21.2% in the second quarter. Royal Bank of Canada now owns 5,214 shares of the investment management company’s stock valued at $90,000 after acquiring an additional 913 shares during the period. JPMorgan Chase & Co. grew its stake in Horizon Technology Finance by 245,900.0% during the fourth quarter. JPMorgan Chase & Co. now owns 7,380 shares of the investment management company’s stock worth $117,000 after buying an additional 7,377 shares during the last quarter. Belpointe Asset Management LLC bought a new stake in Horizon Technology Finance during the fourth quarter worth about $203,000. LPL Financial LLC grew its stake in Horizon Technology Finance by 5.6% during the third quarter. LPL Financial LLC now owns 16,894 shares of the investment management company’s stock worth $275,000 after buying an additional 893 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. bought a new stake in Horizon Technology Finance during the fourth quarter worth about $290,000. Institutional investors own 9.50% of the company’s stock.
HRZN has been the subject of several analyst reports. Zacks Investment Research lowered shares of Horizon Technology Finance from a “buy” rating to a “hold” rating in a research note on Friday, March 4th. StockNews.com raised shares of Horizon Technology Finance from a “sell” rating to a “hold” rating in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Horizon Technology Finance presently has an average rating of “Hold” and an average target price of $16.25.
Horizon Technology Finance Company Profile (Get Rating)
Horizon Technology Finance Corp. operates as a finance company. The firm engages in the provision of capital in the form of secured loans to venture capital backed companies. It also involves in lending and investing in portfolio companies in technology, life science, healthcare information and services and cleantech industries.
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