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| Grab This Cheap 11.4% Yielder Even Lower Than President Michaud DidBy Dividend Channel Staff, Thursday, March 14, 10:24 AM ET
There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on March 8, Horizon Technology Finance Corporation's President, Gerald A. Michaud, invested $42,960.50 into 3,650 shares of HRZN, for a cost per share of $11.77. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. In trading on Thursday, bargain hunters could buy shares of Horizon Technology Finance Corporation (NASDAQ:HRZN) and achieve a cost basis 1.7% cheaper than Michaud, with shares changing hands as low as $11.57 per share. Horizon Technology Finance Corporation shares are currently trading down about 1% on the day. The chart below shows the one year performance of HRZN shares, versus its 200 day moving average:
Looking at the chart above, HRZN's low point in its 52 week range is $10.56 per share, with $13.7277 as the 52 week high point — that compares with a last trade of $11.55. By comparison, below is a table showing the prices at which HRZN insider buying was recorded over the last six months:
The current annualized dividend paid by Horizon Technology Finance Corporation is $1.32/share, currently paid in monthly installments, and its most recent dividend has an upcoming ex-date of 03/18/2024. Below is a long-term dividend history chart for HRZN, which can be of good help in judging whether the most recent dividend with approx. 11.4% annualized yield is likely to continue.
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