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Graypoint LLC Makes New $290,000 Investment in Horizon Technology Finance Co. (NASDAQ:HRZN)

Graypoint LLC acquired a new position in Horizon Technology Finance Co. (NASDAQ:HRZNGet Rating) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 29,000 shares of the investment management company’s stock, valued at approximately $290,000. Graypoint LLC owned approximately 0.11% of Horizon Technology Finance at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of HRZN. Gitterman Wealth Management LLC boosted its holdings in Horizon Technology Finance by 17.1% in the third quarter. Gitterman Wealth Management LLC now owns 38,996 shares of the investment management company’s stock worth $390,000 after acquiring an additional 5,699 shares in the last quarter. B. Riley Wealth Management Inc. bought a new position in shares of Horizon Technology Finance in the second quarter worth approximately $88,638,000. BDO Wealth Advisors LLC grew its holdings in shares of Horizon Technology Finance by 146.4% during the second quarter. BDO Wealth Advisors LLC now owns 5,890 shares of the investment management company’s stock valued at $68,000 after buying an additional 3,500 shares during the last quarter. Millennium Management LLC raised its holdings in Horizon Technology Finance by 15.9% in the 2nd quarter. Millennium Management LLC now owns 52,652 shares of the investment management company’s stock worth $608,000 after acquiring an additional 7,224 shares during the last quarter. Finally, Natixis Advisors L.P. raised its holdings in Horizon Technology Finance by 3.5% in the 2nd quarter. Natixis Advisors L.P. now owns 49,522 shares of the investment management company’s stock worth $571,000 after acquiring an additional 1,659 shares during the last quarter. Institutional investors own 9.82% of the company’s stock.

Horizon Technology Finance Stock Up 0.5 %

NASDAQ HRZN opened at $12.36 on Friday. The firm has a market cap of $326.32 million, a price-to-earnings ratio of 15.26 and a beta of 1.15. Horizon Technology Finance Co. has a twelve month low of $9.67 and a twelve month high of $16.54. The business has a 50-day moving average price of $12.51 and a 200-day moving average price of $12.12.

Horizon Technology Finance (NASDAQ:HRZNGet Rating) last posted its earnings results on Tuesday, November 1st. The investment management company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.10. The company had revenue of $23.25 million during the quarter, compared to analysts’ expectations of $18.92 million. Horizon Technology Finance had a net margin of 26.58% and a return on equity of 11.93%. Research analysts expect that Horizon Technology Finance Co. will post 1.42 EPS for the current fiscal year.

Horizon Technology Finance Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, March 15th. Investors of record on Friday, February 17th will be given a $0.11 dividend. The ex-dividend date is Thursday, February 16th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 10.68%. Horizon Technology Finance’s dividend payout ratio is currently 162.96%.

Insider Buying and Selling at Horizon Technology Finance

In other news, President Gerald A. Michaud bought 18,250 shares of the stock in a transaction dated Tuesday, December 20th. The stock was purchased at an average cost of $11.03 per share, for a total transaction of $201,297.50. Following the transaction, the president now owns 144,585 shares of the company’s stock, valued at $1,594,772.55. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In related news, President Gerald A. Michaud acquired 18,250 shares of Horizon Technology Finance stock in a transaction on Tuesday, December 20th. The shares were bought at an average cost of $11.03 per share, with a total value of $201,297.50. Following the completion of the purchase, the president now directly owns 144,585 shares of the company’s stock, valued at approximately $1,594,772.55. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert D. Jr. Pomeroy acquired 4,000 shares of the stock in a transaction dated Friday, December 9th. The stock was bought at an average cost of $13.03 per share, with a total value of $52,120.00. Following the completion of the purchase, the chief executive officer now directly owns 172,821 shares in the company, valued at $2,251,857.63. The disclosure for this purchase can be found here. Insiders bought 27,008 shares of company stock worth $314,902 in the last quarter. 1.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on HRZN shares. StockNews.com assumed coverage on Horizon Technology Finance in a report on Wednesday, October 12th. They issued a “sell” rating for the company. Janney Montgomery Scott started coverage on shares of Horizon Technology Finance in a research note on Wednesday, October 5th. They set a “neutral” rating and a $10.00 target price for the company. Keefe, Bruyette & Woods lowered Horizon Technology Finance from a “market perform” rating to an “underperform” rating and cut their price objective for the stock from $11.50 to $10.50 in a report on Tuesday, December 20th. Finally, B. Riley reissued a “neutral” rating and issued a $10.50 target price on shares of Horizon Technology Finance in a report on Friday, September 16th. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $10.88.

Horizon Technology Finance Profile

(Get Rating)

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, and cleantech industries.

See Also

Institutional Ownership by Quarter for Horizon Technology Finance (NASDAQ:HRZN)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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