Horizon Technology Finance Corporation (NASDAQ:HRZN) Plans Special Dividend of $0.03

Key Points

• Horizon Technology Finance declared a $0.03 special dividend payable November 16 to shareholders of record on October 16, with the ex-dividend date also set for October 16.
• The company reported quarterly EPS of $0.11, below analysts’ $0.13 estimate. Analysts expect full-year EPS of $0.69, compared with an annual dividend of $0.72.
• HRZN shares opened at $4.55, up 1.0%, while insiders acquired 134,977 shares worth approximately $586,000 over the past 90 days.

Horizon Technology Finance Corporation (NASDAQ:HRZN - Get Free Report) declared a special dividend on Tuesday, August 4th. Shareholders of record on Friday, October 16th will be given a dividend of 0.03 per share by the investment management company on Monday, November 16th. The ex-dividend date is Friday, October 16th.

Horizon Technology Finance has increased its dividend by an average of 0.0%annually over the last three years. Horizon Technology Finance has a dividend payout ratio of 62.6% meaning its dividend is sufficiently covered by earnings. Equities research 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 opened at $4.55 on Wednesday. Horizon Technology Finance has a 52 week low of $3.80 and a 52 week high of $7.76. The business has a fifty day simple moving average of $4.48 and a 200-day simple moving average of $4.88. The firm has a market cap of $310.79 million, a P/E ratio of 10.59 and a beta of 0.98.

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

Insiders Place Their Bets

In related news, Director Thomas J. Allison bought 6,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was purchased at an average cost of $4.36 per share, with a total value of $26,160.00. Following the purchase, the director directly owned 55,926 shares of the company's stock, valued at $243,837.36. This trade represents a 12.02% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Daniel R. Trolio bought 11,500 shares of the business's stock in a transaction that occurred on Wednesday, June 10th. The shares were purchased at an average price of $4.34 per share, for a total transaction of $49,910.00. Following the completion of the purchase, the chief financial officer directly owned 15,023 shares of the company's stock, valued at approximately $65,199.82. This trade represents a 326.43% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders acquired 134,977 shares of company stock valued at $585,975. 0.29% of the stock is owned by company insiders.

Hedge Funds Weigh In On Horizon Technology Finance

Several large investors have recently bought and sold shares of the business. N.E.W. Advisory Services LLC increased its holdings in Horizon Technology Finance by 100.0% in the fourth quarter. N.E.W. Advisory Services LLC now owns 4,000 shares of the investment management company's stock valued at $26,000 after buying an additional 2,000 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of Horizon Technology Finance during the 2nd quarter worth about $60,000. Nations Financial Group Inc. IA ADV purchased a new position in shares of Horizon Technology Finance in the 4th quarter valued at about $67,000. Sanctuary Advisors LLC acquired a new stake in shares of Horizon Technology Finance during the 1st quarter worth about $50,000. Finally, HRT Financial LP acquired a new stake in shares of Horizon Technology Finance during the 4th quarter worth about $77,000. Hedge funds and other institutional investors 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.

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