TrueMark Investments LLC Boosts Stake in Horizon Technology Finance
TrueMark Investments LLC significantly increased its holdings in Horizon Technology Finance Corporation (NASDAQ:HRZN) during the first quarter. According to the firm’s latest Form 13F filing with the Securities and Exchange Commission, TrueMark Investments LLC boosted its position by 30.2%. The institutional investor now owns 272,512 shares of the investment management company’s stock, valued at $2,567,000, representing 0.68% of Horizon Technology Finance.
Other Institutional Investors Show Interest
Several other hedge funds and institutional investors have recently adjusted their stakes in HRZN. Notable changes include:
- Jane Street Group LLC establishing a new stake in the fourth quarter valued at $447,000
- D. E. Shaw & Co. Inc. acquiring a new position worth approximately $220,000
- Green Alpha Advisors LLC increasing its stake by 23.5% to 358,742 shares valued at $3,379,000
- Marshall Wace LLP initiating a position worth about $1,288,000
- Magnetar Financial LLC establishing a new position worth around $406,000
Institutional investors collectively own 4.94% of the company’s stock.
Analyst Ratings and Price Targets
Analysts have recently provided various ratings and price targets for Horizon Technology Finance:
- Compass Point downgraded HRZN from ‘neutral’ to ‘sell’ with a $6.50 price target
- Maxim Group lowered its price target from $15.00 to $13.00 while maintaining a ‘buy’ rating
- Keefe, Bruyette & Woods reduced their price target from $8.00 to $7.50 with an ‘underperform’ rating
- B. Riley initiated coverage with a ‘neutral’ rating and a $7.00 price target
- UBS Group lowered its target price from $9.00 to $8.25 with a ‘neutral’ rating
The consensus rating among analysts is ‘Hold’ with a target price of $8.45.
Company Performance and Dividend Announcement
Horizon Technology Finance Corporation (NASDAQ:HRZN) saw its shares open at $7.36 on Monday. The company has a market capitalization of $296.98 million and a P/E ratio of -8.09. Recent quarterly earnings reported $0.27 EPS, missing estimates of $0.33. The company has declared a dividend of $0.11 per share, representing an 18.06% yield, to be paid on July 15th to shareholders of record on June 17th.
Horizon Technology Finance specializes in lending and investing in development-stage companies, particularly in technology, life science, and cleantech industries. The company’s financial performance and recent analyst ratings suggest a mixed outlook for its stock performance in the coming months.
