Magnetar Financial LLC Takes $406,000 Position in Horizon Technology Finance Co. (NASDAQ:HRZN)

Magnetar Financial LLC acquired a new stake in Horizon Technology Finance Co. (NASDAQ:HRZN) during the 4th quarter, Holdings Channel.com reports. The fund acquired 45,128 shares of the investment management company’s stock, valued at approximately $406,000.

Several other large investors also recently modified their holdings of HRZN. Private Trust Co. NA bought a new position in shares of Horizon Technology Finance in the third quarter valued at about $38,000. Crew Capital Management Ltd. acquired a new position in shares of Horizon Technology Finance in the fourth quarter valued at about $99,000. Quantbot Technologies LP acquired a new position in shares of Horizon Technology Finance in the third quarter valued at about $99,000. Mutual Advisors LLC acquired a new position in shares of Horizon Technology Finance in the fourth quarter valued at about $106,000. Finally, JPMorgan Chase & Co. acquired a new position in shares of Horizon Technology Finance in the third quarter valued at about $117,000. 4.94% of the stock is owned by institutional investors.

Horizon Technology Finance Stock Down 0.9 %

Shares of Horizon Technology Finance stock opened at $9.23 on Friday. The company has a market capitalization of $372.11 million, a price-to-earnings ratio of -76.92 and a beta of 1.18. Horizon Technology Finance Co. has a 12-month low of $8.46 and a 12-month high of $12.63. The firm’s 50-day moving average price is $9.42 and its two-hundred day moving average price is $9.67.

Horizon Technology Finance (NASDAQ:HRZN) last posted its quarterly earnings results on Tuesday, March 4th. The investment management company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). Horizon Technology Finance had a negative net margin of 3.69% and a positive return on equity of 15.78%. The company had revenue of $23.55 million during the quarter, compared to analyst estimates of $25.69 million. On average, sell-side analysts expect that Horizon Technology Finance Co. will post 1.38 earnings per share for the current year.

Horizon Technology Finance Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Wednesday, April 16th will be paid a $0.11 dividend. The ex-dividend date is Wednesday, April 16th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 14.30%. Horizon Technology Finance’s payout ratio is currently -1,100.00%.

Wall Street Analyst Weigh In

Several research firms recently commented on HRZN. Compass Point upgraded shares of Horizon Technology Finance from a “sell” rating to a “neutral” rating and set a $8.25 price target on the stock in a research note on Tuesday, December 17th. Maxim Group decreased their price target on shares of Horizon Technology Finance from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. StockNews.com downgraded shares of Horizon Technology Finance from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Horizon Technology Finance from $9.00 to $8.00 and set an “underperform” rating on the stock in a research note on Friday, March 7th. Three analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company. According to MarketBeat, Horizon Technology Finance has a consensus rating of “Hold” and a consensus price target of $9.56.

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.