Hercules Capital (NYSE:HTGC) Director Gayle Crowell Acquires 6,600 Shares of Stock

Hercules Capital, Inc. (NYSE:HTGC) Director Gayle Crowell purchased 6,600 shares of the business’s stock in a transaction on Monday, February 23rd. The stock was bought at an average cost of $15.20 per share, for a total transaction of $100,320.00. Following the purchase, the director owned 87,458 shares of the company’s stock, valued at approximately $1,329,361.60. This represents a 8.16% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Hercules Capital Price Performance

HTGC stock traded up $0.14 during trading on Thursday, reaching $15.25. 1,628,167 shares of the company were exchanged, compared to its average volume of 2,371,291. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.48 and a quick ratio of 1.48. Hercules Capital, Inc. has a twelve month low of $14.57 and a twelve month high of $21.14. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of 8.35 and a beta of 0.84. The company has a 50-day moving average of $17.79 and a two-hundred day moving average of $18.23.

Hercules Capital (NYSE:HTGC) last posted its quarterly earnings data on Thursday, February 12th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.48. The company had revenue of $133.25 million during the quarter, compared to analyst estimates of $141.57 million. Hercules Capital had a return on equity of 15.97% and a net margin of 63.80%.During the same quarter last year, the company earned $0.49 earnings per share. As a group, equities analysts predict that Hercules Capital, Inc. will post 1.96 earnings per share for the current fiscal year.

Hercules Capital Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 25th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $0.28 annualized dividend and a dividend yield of 1.8%. Hercules Capital’s dividend payout ratio (DPR) is 87.43%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on HTGC shares. Keefe, Bruyette & Woods dropped their target price on Hercules Capital from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Friday, February 13th. Lucid Cap Mkts upgraded shares of Hercules Capital to a “strong-buy” rating in a research report on Monday, December 15th. Weiss Ratings lowered Hercules Capital from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday. Capital One Financial set a $19.75 price objective on Hercules Capital in a report on Monday, December 15th. Finally, Piper Sandler downgraded Hercules Capital from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $20.50 to $17.50 in a research report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $19.29.

Institutional Investors Weigh In On Hercules Capital

A number of hedge funds and other institutional investors have recently made changes to their positions in HTGC. Wealth Enhancement Advisory Services LLC increased its position in shares of Hercules Capital by 173.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 89,575 shares of the financial services provider’s stock valued at $1,605,000 after buying an additional 56,797 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Hercules Capital by 308.9% in the 3rd quarter. International Assets Investment Management LLC now owns 79,555 shares of the financial services provider’s stock valued at $1,493,000 after buying an additional 60,100 shares in the last quarter. Tred Avon Family Wealth LLC acquired a new stake in Hercules Capital in the 3rd quarter worth about $1,042,000. Sumitomo Mitsui Trust Group Inc. increased its stake in Hercules Capital by 42.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 884,946 shares of the financial services provider’s stock worth $16,734,000 after buying an additional 263,222 shares in the last quarter. Finally, Muzinich & Co. Inc. raised its holdings in shares of Hercules Capital by 34.5% during the third quarter. Muzinich & Co. Inc. now owns 992,820 shares of the financial services provider’s stock valued at $18,774,000 after acquiring an additional 254,651 shares during the last quarter. Institutional investors and hedge funds own 19.69% of the company’s stock.

About Hercules Capital

Hercules Capital, Inc is a specialty finance company organized as a business development company (BDC) that provides tailored debt financing solutions to high‐growth companies. Through its external management structure, Hercules Capital extends senior secured loans, subordinated debt and growth capital designed to support research and development, expansion initiatives and working capital needs. The firm primarily partners with venture capital and private equity sponsors to finance innovative enterprises across various developmental stages.

The company’s investment portfolio is concentrated in technology, life sciences and sustainable and renewable technology sectors, reflecting its focus on industries with strong growth prospects and recurring capital requirements.