Horizon Technology Finance Co. (NASDAQ:HRZN) Raises Dividend to $0.11 Per Share

Horizon Technology Finance Co. (NASDAQ:HRZN) announced a dividend on Monday, September 18th, investing.com reports. Investors of record on Tuesday, September 19th will be given a dividend of 0.11 per share by the investment management company on Monday, October 16th. This represents a dividend yield of 10.86%. The ex-dividend date is Monday, September 18th. This is a positive change from Horizon Technology Finance’s previous dividend of $0.10.

Horizon Technology Finance has increased its dividend payment by an average of 0.3% per year over the last three years and has raised its dividend every year for the last 1 years. Horizon Technology Finance has a dividend payout ratio of 80.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Horizon Technology Finance to earn $1.68 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 78.6%.

Horizon Technology Finance Price Performance

Shares of HRZN stock traded down $0.23 on Monday, hitting $11.92. The stock had a trading volume of 238,680 shares, compared to its average volume of 262,784. The firm has a market capitalization of $382.63 million, a P/E ratio of 20.60 and a beta of 1.16. Horizon Technology Finance has a 1 year low of $9.67 and a 1 year high of $13.45. The company’s 50 day moving average price is $12.37 and its 200-day moving average price is $12.03.

Horizon Technology Finance (NASDAQ:HRZN) last posted its quarterly earnings data on Tuesday, August 1st. The investment management company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.11. The firm had revenue of $28.12 million for the quarter, compared to the consensus estimate of $26.23 million. Horizon Technology Finance had a return on equity of 15.64% and a net margin of 15.09%. On average, equities analysts forecast that Horizon Technology Finance will post 1.85 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Y Intercept Hong Kong Ltd purchased a new position in shares of Horizon Technology Finance in the 2nd quarter valued at about $248,000. UBS Group AG increased its holdings in shares of Horizon Technology Finance by 25.7% in the 4th quarter. UBS Group AG now owns 18,517 shares of the investment management company’s stock valued at $215,000 after acquiring an additional 3,786 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Horizon Technology Finance by 7.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 20,303 shares of the investment management company’s stock valued at $203,000 after acquiring an additional 1,480 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Horizon Technology Finance in the 2nd quarter valued at about $169,000. Finally, B. Riley Wealth Advisors Inc. boosted its position in shares of Horizon Technology Finance by 18.7% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 16,165 shares of the investment management company’s stock valued at $162,000 after purchasing an additional 2,548 shares during the period. Hedge funds and other institutional investors own 5.07% of the company’s stock.

Analyst Ratings Changes

HRZN has been the topic of several research analyst reports. Compass Point downgraded Horizon Technology Finance from a “neutral” rating to a “sell” rating and set a $11.00 price objective on the stock. in a report on Friday, August 4th. StockNews.com initiated coverage on Horizon Technology Finance in a report on Thursday, August 17th. They set a “sell” rating on the stock. TheStreet downgraded Horizon Technology Finance from a “b-” rating to a “c” rating in a report on Wednesday, August 16th. Finally, Oppenheimer restated a “market perform” rating and set a $12.00 price target on shares of Horizon Technology Finance in a report on Thursday, August 3rd. Three 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. According to data from MarketBeat, Horizon Technology Finance has an average rating of “Hold” and a consensus target price of $11.20.

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.