Raymond James Financial Inc. Makes New Investment in Horizon Technology Finance Co. (NASDAQ:HRZN)

Raymond James Financial Inc. bought a new position in shares of Horizon Technology Finance Co. (NASDAQ:HRZN) in the fourth quarter, Holdings Channel reports. The firm bought 13,830 shares of the investment management company’s stock, valued at approximately $124,000.

Other institutional investors have also recently bought and sold shares of the company. TrueMark Investments LLC acquired a new position in shares of Horizon Technology Finance in the 4th quarter valued at $1,882,000. Trexquant Investment LP increased its position in shares of Horizon Technology Finance by 196.4% in the 4th quarter. Trexquant Investment LP now owns 198,451 shares of the investment management company’s stock valued at $1,784,000 after buying an additional 131,505 shares in the last quarter. LPL Financial LLC increased its position in shares of Horizon Technology Finance by 9.7% in the 4th quarter. LPL Financial LLC now owns 176,871 shares of the investment management company’s stock valued at $1,590,000 after buying an additional 15,670 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Horizon Technology Finance in the 4th quarter valued at $788,000. Finally, Magnetar Financial LLC bought a new stake in shares of Horizon Technology Finance in the 4th quarter valued at $406,000. Institutional investors and hedge funds own 4.94% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on HRZN shares. B. Riley started coverage on shares of Horizon Technology Finance in a research report on Tuesday. They issued a “neutral” rating and a $7.00 price objective for the company. Keefe, Bruyette & Woods lowered their price objective on shares of Horizon Technology Finance from $8.00 to $7.50 and set an “underperform” rating for the company in a research report on Tuesday, April 8th. StockNews.com cut shares of Horizon Technology Finance from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. Compass Point cut shares of Horizon Technology Finance from a “neutral” rating to a “sell” rating and set a $6.50 price objective for the company. in a research report on Wednesday, April 30th. Finally, Maxim Group lowered their price objective on shares of Horizon Technology Finance from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Monday, March 10th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $8.45.

Horizon Technology Finance Trading Down 0.5%

Shares of NASDAQ HRZN opened at $7.55 on Wednesday. The firm has a market cap of $304.68 million, a PE ratio of -62.92 and a beta of 1.05. Horizon Technology Finance Co. has a 1-year low of $7.12 and a 1-year high of $12.63. The company has a fifty day moving average price of $8.55 and a 200 day moving average price of $9.06.

Horizon Technology Finance (NASDAQ:HRZN) last announced its earnings results on Tuesday, April 29th. The investment management company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). The company had revenue of $24.52 million during the quarter, compared to analyst estimates of $26.67 million. Horizon Technology Finance had a positive return on equity of 15.78% and a negative net margin of 3.69%. Equities research analysts forecast that Horizon Technology Finance Co. will post 1.38 EPS for the current year.

Horizon Technology Finance Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, September 16th. Investors of record on Monday, August 18th will be paid a $0.11 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 17.48%. The ex-dividend date of this dividend is Monday, August 18th. Horizon Technology Finance’s payout ratio is presently -145.05%.

About Horizon Technology Finance

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.