Kovack Advisors Inc. Has $129,000 Holdings in Horizon Technology Finance Co. (NASDAQ:HRZN)

Kovack Advisors Inc. trimmed its holdings in shares of Horizon Technology Finance Co. (NASDAQ:HRZN) by 10.3% in the third quarter, HoldingsChannel reports. The firm owned 12,077 shares of the investment management company’s stock after selling 1,384 shares during the period. Kovack Advisors Inc.’s holdings in Horizon Technology Finance were worth $129,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. International Assets Investment Management LLC raised its stake in shares of Horizon Technology Finance by 810.1% in the third quarter. International Assets Investment Management LLC now owns 50,055 shares of the investment management company’s stock worth $5,330,000 after acquiring an additional 44,555 shares during the last quarter. First Financial Bank Trust Division acquired a new stake in shares of Horizon Technology Finance in the second quarter valued at approximately $520,000. Virtu Financial LLC acquired a new position in Horizon Technology Finance during the 1st quarter worth $257,000. Paloma Partners Management Co acquired a new position in Horizon Technology Finance during the 1st quarter worth $209,000. Finally, Adell Harriman & Carpenter Inc. bought a new position in Horizon Technology Finance in the 3rd quarter valued at $128,000. Institutional investors own 4.94% of the company’s stock.

Analysts Set New Price Targets

HRZN has been the topic of several research reports. B. Riley reaffirmed a “sell” rating and set a $9.00 price target (down previously from $10.00) on shares of Horizon Technology Finance in a research note on Thursday, August 1st. Keefe, Bruyette & Woods lowered their price target on shares of Horizon Technology Finance from $9.50 to $9.00 and set an “underperform” rating for the company in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $9.63.

Horizon Technology Finance Stock Up 0.9 %

Shares of Horizon Technology Finance stock opened at $9.17 on Friday. The business has a fifty day simple moving average of $10.27 and a 200 day simple moving average of $11.21. The stock has a market cap of $349.03 million, a PE ratio of -76.42 and a beta of 1.24. Horizon Technology Finance Co. has a 12 month low of $9.07 and a 12 month high of $13.73.

Horizon Technology Finance (NASDAQ:HRZN) last posted its earnings results on Tuesday, October 29th. The investment management company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03). The company had revenue of $24.56 million for the quarter, compared to analyst estimates 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 quarter in the previous year, the firm posted $0.53 earnings per share. Analysts expect that Horizon Technology Finance Co. will post 1.38 EPS for the current fiscal year.

Horizon Technology Finance Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be issued a $0.11 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.32 annualized dividend and a yield of 14.39%. Horizon Technology Finance’s dividend payout ratio (DPR) is presently -1,100.00%.

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.