Horizon Technology Finance Co. (NASDAQ:HRZN) Position Reduced by Advisors Asset Management Inc.

Advisors Asset Management Inc. lowered its stake in Horizon Technology Finance Co. (NASDAQ:HRZN) by 8.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 69,345 shares of the investment management company’s stock after selling 6,690 shares during the period. Advisors Asset Management Inc.’s holdings in Horizon Technology Finance were worth $739,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Green Alpha Advisors LLC raised its stake in Horizon Technology Finance by 1.8% during the third quarter. Green Alpha Advisors LLC now owns 226,738 shares of the investment management company’s stock valued at $2,415,000 after buying an additional 3,928 shares in the last quarter. ETF Store Inc. increased its holdings in shares of Horizon Technology Finance by 3.7% in the 3rd quarter. ETF Store Inc. now owns 52,813 shares of the investment management company’s stock valued at $562,000 after acquiring an additional 1,871 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Horizon Technology Finance by 810.1% during the 3rd quarter. International Assets Investment Management LLC now owns 50,055 shares of the investment management company’s stock valued at $5,330,000 after acquiring an additional 44,555 shares in the last quarter. First Financial Bank Trust Division bought a new position in Horizon Technology Finance during the second quarter worth $520,000. 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 purchasing an additional 4,795 shares during the period. Institutional investors and hedge funds own 4.94% of the company’s stock.

Analyst Ratings Changes

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

Horizon Technology Finance Stock Down 0.2 %

Shares of NASDAQ:HRZN opened at $9.24 on Wednesday. Horizon Technology Finance Co. has a fifty-two week low of $9.07 and a fifty-two week high of $13.73. The company has a market cap of $351.69 million, a PE ratio of -77.00 and a beta of 1.24. The company’s 50-day moving average price is $10.06 and its 200 day moving average price is $11.10.

Horizon Technology Finance (NASDAQ:HRZN) last released its quarterly 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). Horizon Technology Finance had a negative net margin of 3.69% and a positive return on equity of 15.78%. The business had revenue of $24.56 million for the quarter, compared to the consensus estimate of $25.38 million. During the same period last year, the firm posted $0.53 EPS. As a group, equities analysts anticipate that Horizon Technology Finance Co. will post 1.38 EPS for the current year.

Horizon Technology Finance Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.11 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 14.29%. The ex-dividend date of this dividend is Monday, December 16th. Horizon Technology Finance’s dividend payout ratio (DPR) is -1,100.00%.

Horizon Technology Finance 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.