Adell Harriman & Carpenter Inc. Takes Position in Horizon Technology Finance Co. (NASDAQ:HRZN)

Adell Harriman & Carpenter Inc. purchased a new position in Horizon Technology Finance Co. (NASDAQ:HRZN) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 12,000 shares of the investment management company’s stock, valued at approximately $128,000.

Other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in Horizon Technology Finance in the second quarter worth about $66,000. Paloma Partners Management Co purchased a new stake in shares of Horizon Technology Finance in the 1st quarter worth approximately $209,000. Virtu Financial LLC bought a new position in Horizon Technology Finance during the 1st quarter valued at approximately $257,000. Commonwealth Equity Services LLC raised its stake in Horizon Technology Finance by 4.9% during the second quarter. Commonwealth Equity Services LLC now owns 23,776 shares of the investment management company’s stock valued at $286,000 after buying an additional 1,113 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in Horizon Technology Finance by 17.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 32,204 shares of the investment management company’s stock worth $367,000 after acquiring an additional 4,795 shares in the last quarter. 4.94% of the stock is currently owned by institutional investors.

Horizon Technology Finance Price Performance

HRZN stock opened at $9.69 on Thursday. The stock has a market capitalization of $339.35 million, a P/E ratio of -23.07 and a beta of 1.23. Horizon Technology Finance Co. has a 1-year low of $9.30 and a 1-year high of $13.73. The business has a fifty day moving average price of $10.67 and a 200-day moving average price of $11.38.

Horizon Technology Finance (NASDAQ:HRZN) last issued its earnings results on Tuesday, October 29th. The investment management company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The business had revenue of $24.56 million during the quarter, compared to analysts’ expectations of $25.38 million. Horizon Technology Finance had a positive return on equity of 17.39% and a negative net margin of 21.19%. During the same period last year, the firm posted $0.53 EPS. As a group, analysts anticipate that Horizon Technology Finance Co. will post 1.23 earnings per share for the current year.

Horizon Technology Finance Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be given a dividend of $0.11 per share. The ex-dividend date is Friday, November 15th. This represents a $1.32 dividend on an annualized basis and a yield of 13.62%. Horizon Technology Finance’s dividend payout ratio (DPR) is -314.29%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods reduced their price target on Horizon Technology Finance from $9.50 to $9.00 and set an “underperform” rating for the company in a report on Thursday, August 1st. B. Riley restated a “sell” rating and set a $9.00 price objective (down from $10.00) on shares of Horizon Technology Finance in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat, Horizon Technology Finance has a consensus rating of “Hold” and an average price target of $9.63.

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.