Freedom Investment Management Inc. Sells 3,770 Shares of Horizon Technology Finance Corporation $HRZN

Freedom Investment Management Inc. decreased its holdings in Horizon Technology Finance Corporation (NASDAQ:HRZN) by 3.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 106,849 shares of the investment management company’s stock after selling 3,770 shares during the quarter. Freedom Investment Management Inc.’s holdings in Horizon Technology Finance were worth $769,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in Horizon Technology Finance in the second quarter valued at approximately $411,000. N.E.W. Advisory Services LLC bought a new stake in Horizon Technology Finance in the first quarter valued at approximately $36,000. Cetera Investment Advisers raised its stake in Horizon Technology Finance by 20.2% in the first quarter. Cetera Investment Advisers now owns 63,008 shares of the investment management company’s stock valued at $594,000 after buying an additional 10,603 shares during the period. Finally, ETF Store Inc. raised its stake in Horizon Technology Finance by 16.6% in the first quarter. ETF Store Inc. now owns 55,348 shares of the investment management company’s stock valued at $521,000 after buying an additional 7,877 shares during the period. Institutional investors own 4.94% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. UBS Group dropped their price objective on Horizon Technology Finance from $7.00 to $6.25 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. Weiss Ratings reiterated a “sell (d)” rating on shares of Horizon Technology Finance in a research note on Wednesday, October 8th. Finally, Maxim Group lowered their target price on Horizon Technology Finance from $10.00 to $7.50 and set a “buy” rating on the stock in a research note on Monday, August 11th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $6.95.

Horizon Technology Finance Trading Up 0.5%

Shares of NASDAQ HRZN opened at $5.97 on Friday. The firm has a market cap of $254.02 million, a P/E ratio of -5.19 and a beta of 1.00. Horizon Technology Finance Corporation has a 1-year low of $5.70 and a 1-year high of $10.23. The business’s 50 day moving average is $6.47 and its 200-day moving average is $7.30.

Horizon Technology Finance (NASDAQ:HRZN) last announced its earnings results on Thursday, August 7th. The investment management company reported $0.28 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.28. The company had revenue of ($9.89) million for the quarter, compared to analyst estimates of $24.54 million. Horizon Technology Finance had a positive return on equity of 14.02% and a negative net margin of 48.76%. Analysts forecast that Horizon Technology Finance Corporation will post 1.38 EPS for the current year.

Horizon Technology Finance Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, November 14th. Investors of record on Thursday, October 16th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, October 16th. This represents a c) dividend on an annualized basis and a yield of 22.1%. Horizon Technology Finance’s dividend payout ratio is currently -114.78%.

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.