Freedom Investment Management Inc. Sells 5,313 Shares of Horizon Technology Finance Co. (NASDAQ:HRZN)

Freedom Investment Management Inc. lessened its stake in shares of Horizon Technology Finance Co. (NASDAQ:HRZN) by 4.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,153 shares of the investment management company’s stock after selling 5,313 shares during the quarter. Freedom Investment Management Inc. owned about 0.27% of Horizon Technology Finance worth $1,088,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new position in Horizon Technology Finance in the second quarter worth approximately $66,000. CANADA LIFE ASSURANCE Co grew its position in Horizon Technology Finance by 17.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 32,204 shares of the investment management company’s stock valued at $367,000 after purchasing an additional 4,795 shares during the period. Virtu Financial LLC acquired a new stake in Horizon Technology Finance in the 1st quarter valued at $257,000. Commonwealth Equity Services LLC increased its stake in Horizon Technology Finance by 4.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 23,776 shares of the investment management company’s stock valued at $286,000 after purchasing an additional 1,113 shares in the last quarter. Finally, ETF Store Inc. raised its holdings in Horizon Technology Finance by 4.4% during the second quarter. ETF Store Inc. now owns 50,942 shares of the investment management company’s stock worth $613,000 after buying an additional 2,136 shares during the last quarter. 4.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HRZN has been the subject of a number of analyst reports. B. Riley reiterated a “sell” rating and set a $9.00 price objective (down from $10.00) on shares of Horizon Technology Finance in a report on Thursday, August 1st. Keefe, Bruyette & Woods decreased their price objective on Horizon Technology Finance from $9.50 to $9.00 and set an “underperform” rating for the company in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $9.63.

Horizon Technology Finance Price Performance

HRZN opened at $9.29 on Thursday. Horizon Technology Finance Co. has a fifty-two week low of $9.07 and a fifty-two week high of $13.73. The firm has a market capitalization of $353.58 million, a P/E ratio of -77.42 and a beta of 1.24. The company’s 50-day moving average is $10.03 and its 200 day moving average is $11.08.

Horizon Technology Finance (NASDAQ:HRZN) last posted its earnings results on Tuesday, October 29th. The investment management company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). The firm had revenue of $24.56 million for the quarter, compared to the consensus estimate of $25.38 million. Horizon Technology Finance had a positive return on equity of 15.78% and a negative net margin of 3.69%. During the same period in the prior year, the business earned $0.53 EPS. On average, equities research analysts expect that Horizon Technology Finance Co. will post 1.38 earnings per share for the current year.

Horizon Technology Finance Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be paid a $0.11 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.32 dividend on an annualized basis and a yield of 14.21%. Horizon Technology Finance’s dividend payout ratio (DPR) is presently -1,100.00%.

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.