Kovack Advisors Inc. Sells 1,384 Shares of Horizon Technology Finance Co. (NASDAQ:HRZN)

Kovack Advisors Inc. reduced its holdings in Horizon Technology Finance Co. (NASDAQ:HRZN) by 10.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,077 shares of the investment management company’s stock after selling 1,384 shares during the quarter. Kovack Advisors Inc.’s holdings in Horizon Technology Finance were worth $129,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on HRZN. B. Riley restated a “sell” rating and set a $9.00 price objective (down previously from $10.00) on shares of Horizon Technology Finance in a report on Thursday, August 1st. Keefe, Bruyette & Woods cut their price target 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. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $9.63.

Horizon Technology Finance Stock Performance

Shares of Horizon Technology Finance stock opened at $9.17 on Friday. The firm has a market cap of $349.03 million, a P/E ratio of -76.42 and a beta of 1.24. The firm’s 50-day simple moving average is $10.27 and its 200-day simple moving average is $11.21. Horizon Technology Finance Co. has a twelve month low of $9.07 and a twelve month high of $13.73.

Horizon Technology Finance (NASDAQ:HRZN) last released its quarterly earnings data on Tuesday, October 29th. The investment management company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). 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 $24.56 million for the quarter, compared to analyst estimates of $25.38 million. During the same period in the previous year, the firm posted $0.53 earnings per share. On average, equities analysts forecast that Horizon Technology Finance Co. will post 1.38 earnings per share for the current fiscal year.

Horizon Technology Finance Announces Dividend

The business 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 dividend of $0.11 per share. 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 is currently -1,100.00%.

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.