Horizon Technology Finance Corporation (NASDAQ:HRZN) Announces $0.06 Monthly Dividend

Key Points

• Horizon Technology Finance declared a $0.06 monthly dividend, equivalent to $0.72 annually and a 15.8% yield. The dividend is payable October 15 to shareholders of record on September 16.
• The company reported quarterly EPS of $0.11, missing the $0.13 analyst consensus, while revenue of negative $44.66 million also fell short of the $25.22 million estimate.
• Insiders purchased 134,977 shares worth approximately $586,000 over the past 90 days, including 100,000 shares bought by CEO Michael Balkin.

Horizon Technology Finance Corporation (NASDAQ:HRZN - Get Free Report) announced a monthly dividend on Tuesday, August 4th. Shareholders of record on Wednesday, September 16th will be paid a dividend of 0.06 per share by the investment management company on Thursday, October 15th. This represents a c) annualized dividend and a dividend yield of 15.8%. The ex-dividend date of this dividend is Wednesday, September 16th.

Horizon Technology Finance has increased its dividend by an average of 0.0%per year over the last three years. Horizon Technology Finance has a payout ratio of 62.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Horizon Technology Finance to earn $0.81 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 88.9%.

Horizon Technology Finance Stock Up 1.0%

HRZN stock opened at $4.55 on Wednesday. Horizon Technology Finance has a twelve month low of $3.80 and a twelve month high of $7.76. The company has a market cap of $310.79 million, a P/E ratio of 10.59 and a beta of 0.98. The business's fifty day moving average is $4.48 and its 200-day moving average is $4.88.

Horizon Technology Finance (NASDAQ:HRZN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The investment management company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.02). The company had revenue of ($44.66) million for the quarter, compared to analyst estimates of $25.22 million. Horizon Technology Finance had a return on equity of 13.63% and a net margin of 22.55%. Research analysts anticipate that Horizon Technology Finance will post 0.69 earnings per share for the current fiscal year.

Insider Activity at Horizon Technology Finance

In other Horizon Technology Finance news, Director Jonathan Joseph Goodman bought 6,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was acquired at an average cost of $4.33 per share, with a total value of $25,980.00. Following the purchase, the director owned 8,312 shares in the company, valued at $35,990.96. This trade represents a 259.52% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Balkin bought 100,000 shares of the company's stock in a transaction on Tuesday, June 9th. The shares were bought at an average price of $4.34 per share, for a total transaction of $434,000.00. Following the completion of the acquisition, the chief executive officer directly owned 223,527 shares in the company, valued at approximately $970,107.18. This trade represents a 80.95% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 134,977 shares of company stock valued at $585,975 over the last 90 days. Insiders own 0.29% of the company's stock.

Hedge Funds Weigh In On Horizon Technology Finance

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CANADA LIFE ASSURANCE Co increased its holdings in Horizon Technology Finance by 20.0% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 43,268 shares of the investment management company's stock worth $312,000 after purchasing an additional 7,197 shares in the last quarter. Oxford Asset Management LLP bought a new stake in shares of Horizon Technology Finance in the second quarter valued at about $285,000. Brevan Howard Capital Management LP acquired a new position in shares of Horizon Technology Finance during the third quarter worth about $245,000. WINTON GROUP Ltd acquired a new position in shares of Horizon Technology Finance during the fourth quarter worth about $197,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Horizon Technology Finance during the fourth quarter worth about $187,000. 4.94% of the stock is owned by institutional investors and hedge funds.

About Horizon Technology Finance

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source