Adell Harriman & Carpenter Inc. Buys Shares of 12,000 Horizon Technology Finance Co. (NASDAQ:HRZN)

Adell Harriman & Carpenter Inc. purchased a new position in shares of Horizon Technology Finance Co. (NASDAQ:HRZN) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 12,000 shares of the investment management company’s stock, valued at approximately $128,000.

Other institutional investors and hedge funds have also modified their holdings of the company. International Assets Investment Management LLC bought a new position in Horizon Technology Finance in the 2nd quarter worth $66,000. Paloma Partners Management Co bought a new stake in Horizon Technology Finance during the first quarter valued at about $209,000. Virtu Financial LLC purchased a new stake in Horizon Technology Finance in the first quarter worth about $257,000. Commonwealth Equity Services LLC raised its stake in shares of Horizon Technology Finance by 4.9% in the second quarter. Commonwealth Equity Services LLC now owns 23,776 shares of the investment management company’s stock worth $286,000 after buying an additional 1,113 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its stake in shares of 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 buying an additional 4,795 shares during the period. Hedge funds and other institutional investors own 4.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on HRZN shares. Keefe, Bruyette & Woods cut their price objective on Horizon Technology Finance from $9.50 to $9.00 and set an “underperform” rating for the company in a research note on Thursday, August 1st. B. Riley reissued a “sell” rating and issued a $9.00 price objective (down from $10.00) on shares of Horizon Technology Finance in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat.com, Horizon Technology Finance has an average rating of “Hold” and an average price target of $9.63.

Horizon Technology Finance Trading Down 3.2 %

Shares of HRZN opened at $9.69 on Thursday. The business’s 50 day moving average is $10.67 and its 200 day moving average is $11.38. Horizon Technology Finance Co. has a 12-month low of $9.30 and a 12-month high of $13.73. The company has a market capitalization of $339.35 million, a PE ratio of -23.07 and a beta of 1.23.

Horizon Technology Finance (NASDAQ:HRZN) last released its quarterly earnings data on Tuesday, October 29th. The investment management company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03). Horizon Technology Finance had a negative net margin of 21.19% and a positive return on equity of 17.39%. The company had revenue of $24.56 million for the quarter, compared to the consensus estimate of $25.38 million. During the same quarter in the previous year, the business earned $0.53 EPS. Equities research analysts predict that Horizon Technology Finance Co. will post 1.23 earnings per share for the current year.

Horizon Technology Finance Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be paid a $0.11 dividend. This represents a $1.32 annualized dividend and a yield of 13.62%. The ex-dividend date is Friday, November 15th. Horizon Technology Finance’s payout ratio is currently -314.29%.

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.