Insider Buying: Horizon Technology Finance (NASDAQ:HRZN) CFO Purchases $49,910.00 in Stock

Horizon Technology Finance Corporation (NASDAQ:HRZN) CFO Daniel Trolio acquired 11,500 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were bought at an average cost of $4.34 per share, for a total transaction of $49,910.00. Following the acquisition, the chief financial officer owned 15,023 shares of the company’s stock, valued at $65,199.82. This represents a 326.43% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Horizon Technology Finance Trading Down 4.6%

HRZN stock opened at $4.36 on Friday. Horizon Technology Finance Corporation has a twelve month low of $3.80 and a twelve month high of $8.46. The company’s 50 day moving average is $4.31 and its two-hundred day moving average is $5.43. The stock has a market cap of $297.61 million, a P/E ratio of 10.14 and a beta of 1.00.

Horizon Technology Finance (NASDAQ:HRZN) last released its quarterly earnings data on Tuesday, May 5th. The investment management company reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.19. Horizon Technology Finance had a net margin of 22.55% and a return on equity of 13.63%. The company had revenue of ($6.19) million for the quarter, compared to analysts’ expectations of $21.09 million. On average, equities research analysts predict that Horizon Technology Finance Corporation will post 0.69 earnings per share for the current year.

Horizon Technology Finance Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 17th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Monday, August 17th. Horizon Technology Finance’s payout ratio is presently 167.44%.

Hedge Funds Weigh In On Horizon Technology Finance

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Sanctuary Advisors LLC purchased a new position in Horizon Technology Finance in the 1st quarter valued at $50,000. Patriot Financial Group Insurance Agency LLC purchased a new position in Horizon Technology Finance in the 1st quarter valued at $52,000. Quadrature Capital Ltd purchased a new position in Horizon Technology Finance in the 4th quarter valued at $365,000. Schonfeld Strategic Advisors LLC purchased a new position in Horizon Technology Finance in the 4th quarter valued at $187,000. Finally, Regal Investment Advisors LLC purchased a new position in Horizon Technology Finance in the 4th quarter valued at $316,000. 4.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HRZN has been the topic of a number of recent research reports. UBS Group cut their target price on shares of Horizon Technology Finance from $4.50 to $4.25 and set a “neutral” rating on the stock in a report on Monday, May 18th. Wall Street Zen cut shares of Horizon Technology Finance from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Keefe, Bruyette & Woods raised shares of Horizon Technology Finance from an “underperform” rating to a “market perform” rating and set a $5.00 target price on the stock in a report on Thursday, March 5th. Zacks Research raised shares of Horizon Technology Finance from a “strong sell” rating to a “hold” rating in a report on Thursday, May 7th. Finally, B. Riley Financial cut their target price on shares of Horizon Technology Finance from $7.00 to $5.50 and set a “neutral” rating on the stock in a report on Friday, March 6th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $5.65.

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.