Horizon Technology Finance Corporation (HRZN) To Go Ex-Dividend on February 17th

Horizon Technology Finance Corporation (NASDAQ:HRZN) declared a monthly dividend on Wednesday, October 22nd. Stockholders of record on Tuesday, February 17th will be given a dividend of 0.11 per share by the investment management company on Friday, March 13th. This represents a c) annualized dividend and a dividend yield of 19.8%. The ex-dividend date of this dividend is Tuesday, February 17th.

Horizon Technology Finance has increased its dividend by an average of 0.0%annually over the last three years. Horizon Technology Finance has a payout ratio of 114.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Horizon Technology Finance to earn $1.26 per share next year, which means the company may not be able to cover its $1.32 annual dividend with an expected future payout ratio of 104.8%.

Horizon Technology Finance Stock Performance

Shares of NASDAQ:HRZN opened at $6.67 on Friday. The company has a 50 day moving average price of $6.57 and a two-hundred day moving average price of $6.62. The company has a market capitalization of $308.95 million, a PE ratio of -9.96 and a beta of 0.98. Horizon Technology Finance has a 52 week low of $5.70 and a 52 week high of $9.99.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in HRZN. Eagle Point Credit Management LLC bought a new stake in Horizon Technology Finance during the 4th quarter worth about $2,385,000. Millennium Management LLC bought a new stake in Horizon Technology Finance during the third quarter worth about $1,099,000. Green Alpha Advisors LLC boosted its position in Horizon Technology Finance by 29.0% during the third quarter. Green Alpha Advisors LLC now owns 500,029 shares of the investment management company’s stock valued at $3,050,000 after purchasing an additional 112,303 shares during the last quarter. Magnetar Financial LLC acquired a new position in Horizon Technology Finance during the third quarter valued at approximately $435,000. Finally, Aquatic Capital Management LLC acquired a new position in shares of Horizon Technology Finance during the 3rd quarter worth approximately $395,000. Institutional investors own 4.94% of the company’s stock.

About Horizon Technology Finance

Horizon Technology Finance Corporation is a specialty finance company organized as a business development company (BDC) that provides private credit solutions to venture capital and private equity-backed technology, life science and healthcare companies. The firm targets companies at various stages of development, offering secured debt financing structures such as first‐lien and second‐lien loans, as well as equity co‐investment opportunities in select portfolio companies.

Horizon Technology Finance’s investment strategy emphasizes deployment of capital in U.S.‐based enterprises with proven technology, strong management teams and clear paths to growth.