Oppenheimer Holdings Comments on Horizon Technology Finance Corp’s FY2017 Earnings (HRZN)

Horizon Technology Finance Corp (NASDAQ:HRZN) – Equities research analysts at Oppenheimer Holdings reduced their FY2017 earnings per share estimates for shares of Horizon Technology Finance Corp in a research report issued on Wednesday. Oppenheimer Holdings analyst C. Kotowski now anticipates that the investment management company will post earnings per share of $1.09 for the year, down from their prior estimate of $1.15.

HRZN has been the topic of a number of other reports. National Securities reaffirmed a “neutral” rating and issued a $11.00 price objective on shares of Horizon Technology Finance Corp in a research note on Monday, March 13th. Zacks Investment Research lowered shares of Horizon Technology Finance Corp from a “hold” rating to a “strong sell” rating in a research note on Friday, May 5th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $11.00 price objective on shares of Horizon Technology Finance Corp in a research note on Friday, April 28th. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Horizon Technology Finance Corp presently has an average rating of “Hold” and a consensus target price of $12.57.

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Horizon Technology Finance Corp (NASDAQ:HRZN) traded down 0.0630% during midday trading on Monday, reaching $11.4228. 16,335 shares of the company traded hands. The company has a 50 day moving average of $11.23 and a 200-day moving average of $11.21. Horizon Technology Finance Corp has a 12-month low of $9.64 and a 12-month high of $13.95.

Horizon Technology Finance Corp (NASDAQ:HRZN) last posted its quarterly earnings data on Tuesday, May 2nd. The investment management company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.31 by $0.02. The company had revenue of $6.96 million during the quarter, compared to the consensus estimate of $6.90 million. Horizon Technology Finance Corp had a negative net margin of 4.62% and a positive return on equity of 11.33%.

Hedge funds have recently made changes to their positions in the company. Infrastructure Capital Advisors LLC bought a new stake in shares of Horizon Technology Finance Corp during the first quarter valued at approximately $184,000. Nwam LLC bought a new stake in shares of Horizon Technology Finance Corp during the first quarter valued at approximately $174,000. LSV Asset Management raised its stake in shares of Horizon Technology Finance Corp by 1.3% in the first quarter. LSV Asset Management now owns 191,000 shares of the investment management company’s stock valued at $2,125,000 after buying an additional 2,500 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Horizon Technology Finance Corp by 2.2% in the first quarter. Wells Fargo & Company MN now owns 65,616 shares of the investment management company’s stock valued at $730,000 after buying an additional 1,414 shares in the last quarter. Finally, Founders Financial Securities LLC raised its stake in shares of Horizon Technology Finance Corp by 25.8% in the first quarter. Founders Financial Securities LLC now owns 12,646 shares of the investment management company’s stock valued at $141,000 after buying an additional 2,591 shares in the last quarter. 17.27% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Joseph J. Savage purchased 7,000 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The shares were bought at an average cost of $11.27 per share, with a total value of $78,890.00. Following the completion of the transaction, the director now directly owns 8,500 shares of the company’s stock, valued at $95,795. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is owned by company insiders.

The company also recently declared a monthly dividend, which will be paid on Friday, July 14th. Investors of record on Tuesday, June 20th will be given a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 10.50%. The ex-dividend date is Friday, June 16th. Horizon Technology Finance Corp’s payout ratio is currently -750.00%.

Horizon Technology Finance Corp Company Profile

Horizon Technology Finance Corporation is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objective is to maximize investment portfolio’s total return by generating current income from the debt investments it makes and capital appreciation from the warrants it receives when making such debt investments.

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