HomeMost PopularHorizon Technology Finance (HRZN) Declares $0.11 Dividend

Horizon Technology Finance (HRZN) Declares $0.11 Dividend

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The Growth of Horizon Technology Finance: A Financial Frontier Explored

The Rise in Dividends: A Beacon in the Financial Frontier

Horizon Technology Finance revealed on February 23, 2024, that its board of directors bestowed a regular monthly dividend of $0.11 per share ($1.32 annualized). Previously, the company’s payout stood at $0.11 per share.

To partake in the dividend, shares must be secured prior to the ex-dividend date of March 18, 2024. Shareholders recorded as of March 19, 2024, will receive the dividend on April 16, 2024.

With the current share price at $11.94 per share, the stock boasts a dividend yield of 11.06%. Reflecting on the past five years with a weekly sampling, the average dividend yield amounted to 10.13%. The lowest recorded figure hit 6.73%, while the peak soared to 20.13%. The standard deviation of yields calculated to be 1.76 (n=193). Emphatically, the present dividend yield stands at 0.53 standard deviations above the historical mean.

The company’s 3-Year dividend growth rate underscores a positive trajectory of 0.14%, showcasing consistent dividend growth over time.

Insights into Fund Sentiment and Market Outlook

Approximately 60 funds or institutions have reported positions in Horizon Technology Finance, marking a 9.09% increase in the last quarter. The average portfolio weight dedicated to HRZN across all funds stands at 0.10%, indicating a 12.04% reduction. Notably, the total shares held by institutions experienced a 2.99% decrease in the past three months, amounting to 1,888K shares.

The put/call ratio for HRZN is 0.56, pointing towards a bullish market sentiment as per the latest data.

Analyst Price Forecast and Shareholder Moves

As of February 24, 2024, the average one-year price target for Horizon Technology Finance is $11.76, with forecasts ranging between a low of $9.34 and a high of $15.75. This average price target signifies a modest decline of 1.49% from the most recent closing price of $11.94.

Projections for the company’s annual revenue reflect a forecast of $110 million, depicting a slight dip of 3.11%. On the other hand, the expected annual non-GAAP EPS stands at $1.66.

Exploring Shareholder Dynamism

Delving into specific shareholders, we find intriguing movements. Legal & General Group currently holds 248K shares, marking a significant 55.87% increase from their previous holding of 110K shares. While Green Alpha Advisors has decreased its portfolio allocation in HRZN by 18.91% over the last quarter, NXTE – AXS Green Alpha ETF recorded a slight 3.25% increase in portfolio allocation in HRZN.

Further, Advisors Asset Management made a notable decrease of 66.51% in its HRZN shares, accompanied by a portfolio allocation drop of 36.99% in the last quarter. Eqis Capital Management displayed a 4.71% reduction in HRZN shares and a 29.48% decrease in portfolio allocation.

Horizon Technology Finance: A Glimpse into the Company

Horizon Technology Finance Corporation, a distinguished specialty finance company, extends capital in the form of secured loans to venture capital-backed firms across technology, life science, healthcare information and services, and sustainability industries. The company’s investment objective revolves around maximizing the return on its investment portfolio through current income from debt investments and capital appreciation from warrants received during such transactions. Headquartered in Farmington, Connecticut, Horizon also maintains regional offices in Pleasanton, California, and Reston, Virginia.

The views and opinions expressed herein reflect the author’s perspectives and do not necessarily align with those of Nasdaq, Inc.

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