Millennium Management LLC Lowers Stock Holdings in Horizon Technology Finance Co. (NASDAQ:HRZN)

Millennium Management LLC trimmed its holdings in shares of Horizon Technology Finance Co. (NASDAQ:HRZN - Free Report) by 52.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 96,342 shares of the investment management company's stock after selling 107,082 shares during the quarter. Millennium Management LLC owned 0.24% of Horizon Technology Finance worth $866,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in HRZN. TrueMark Investments LLC purchased a new position in shares of Horizon Technology Finance during the fourth quarter valued at $1,882,000. Marshall Wace LLP purchased a new position in shares of Horizon Technology Finance during the fourth quarter valued at $1,288,000. Trexquant Investment LP increased its stake in shares of Horizon Technology Finance by 196.4% during the fourth quarter. Trexquant Investment LP now owns 198,451 shares of the investment management company's stock valued at $1,784,000 after buying an additional 131,505 shares during the period. Strategic Financial Concepts LLC purchased a new position in shares of Horizon Technology Finance during the fourth quarter valued at $788,000. Finally, Jane Street Group LLC purchased a new position in shares of Horizon Technology Finance during the fourth quarter valued at $447,000. 4.94% of the stock is currently owned by institutional investors.

Horizon Technology Finance Trading Up 1.6%

NASDAQ:HRZN traded up $0.12 during trading hours on Friday, hitting $7.56. The company had a trading volume of 288,509 shares, compared to its average volume of 392,211. The company has a market cap of $305.08 million, a P/E ratio of -63.00 and a beta of 1.01. Horizon Technology Finance Co. has a 1 year low of $7.12 and a 1 year high of $12.63. The company has a 50-day moving average of $7.90 and a 200 day moving average of $8.82.

Horizon Technology Finance (NASDAQ:HRZN - Get Free Report) last announced its earnings results on Tuesday, April 29th. The investment management company reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.33 by ($0.06). Horizon Technology Finance had a negative net margin of 3.69% and a positive return on equity of 15.78%. The firm had revenue of $24.52 million for the quarter, compared to analysts' expectations of $26.67 million. On average, analysts forecast that Horizon Technology Finance Co. will post 1.38 earnings per share for the current year.

Horizon Technology Finance Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be given a $0.11 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 17.46%. The ex-dividend date of this dividend is Monday, June 16th. Horizon Technology Finance's dividend payout ratio is currently -145.05%.

Wall Street Analysts Forecast Growth

HRZN has been the topic of several analyst reports. B. Riley initiated coverage on Horizon Technology Finance in a research note on Tuesday, May 13th. They issued a "neutral" rating and a $7.00 target price on the stock. UBS Group cut their target price on Horizon Technology Finance from $9.00 to $8.25 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Keefe, Bruyette & Woods cut their target price on Horizon Technology Finance from $8.00 to $7.50 and set an "underperform" rating on the stock in a research note on Tuesday, April 8th. Maxim Group cut their target price on Horizon Technology Finance from $15.00 to $13.00 and set a "buy" rating on the stock in a research note on Monday, March 10th. Finally, Wall Street Zen lowered Horizon Technology Finance from a "hold" rating to a "sell" rating in a research note on Thursday, February 20th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Horizon Technology Finance has an average rating of "Hold" and a consensus price target of $8.45.

Horizon Technology Finance Company Profile

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.