Elevation Point Wealth Partners LLC Invests $3.28 Million in Hercules Capital, Inc. $HTGC

Elevation Point Wealth Partners LLC bought a new position in shares of Hercules Capital, Inc. (NYSE:HTGC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 207,786 shares of the financial services provider’s stock, valued at approximately $3,277,000. Elevation Point Wealth Partners LLC owned about 0.11% of Hercules Capital as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Fox Run Management L.L.C. grew its holdings in Hercules Capital by 2.8% during the 4th quarter. Fox Run Management L.L.C. now owns 24,354 shares of the financial services provider’s stock worth $458,000 after acquiring an additional 657 shares during the period. Centaurus Financial Inc. raised its position in shares of Hercules Capital by 1.8% in the 3rd quarter. Centaurus Financial Inc. now owns 37,819 shares of the financial services provider’s stock worth $715,000 after acquiring an additional 675 shares in the last quarter. Mariner LLC lifted its stake in shares of Hercules Capital by 1.4% in the 4th quarter. Mariner LLC now owns 56,453 shares of the financial services provider’s stock valued at $1,062,000 after purchasing an additional 764 shares during the period. Baker Avenue Asset Management LP lifted its stake in shares of Hercules Capital by 8.0% in the 4th quarter. Baker Avenue Asset Management LP now owns 11,896 shares of the financial services provider’s stock valued at $224,000 after purchasing an additional 881 shares during the period. Finally, Integrated Wealth Concepts LLC boosted its position in shares of Hercules Capital by 5.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 17,241 shares of the financial services provider’s stock valued at $331,000 after purchasing an additional 959 shares in the last quarter. Institutional investors and hedge funds own 19.69% of the company’s stock.

Hercules Capital Price Performance

Shares of NYSE HTGC opened at $17.15 on Friday. The firm has a market capitalization of $3.21 billion, a P/E ratio of 8.53 and a beta of 0.79. The firm’s 50-day moving average price is $16.14 and its 200-day moving average price is $15.65. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.03. Hercules Capital, Inc. has a 1-year low of $13.70 and a 1-year high of $19.62.

Hercules Capital (NYSE:HTGC) last issued its earnings results on Thursday, July 30th. The financial services provider reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. Hercules Capital had a return on equity of 16.01% and a net margin of 67.68%.The company had revenue of $134.41 million during the quarter, compared to the consensus estimate of $146.71 million. During the same period last year, the business posted $0.50 EPS. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. Equities research analysts anticipate that Hercules Capital, Inc. will post 1.95 earnings per share for the current fiscal year.

Hercules Capital Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 18th. Stockholders of record on Tuesday, August 11th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, August 11th. This is a positive change from Hercules Capital’s previous quarterly dividend of $0.07. This represents a $1.60 dividend on an annualized basis and a dividend yield of 9.3%. Hercules Capital’s payout ratio is currently 79.60%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on HTGC. LADENBURG THALM/SH SH lowered their target price on Hercules Capital from $21.00 to $20.00 and set a “buy” rating for the company in a report on Friday, July 31st. UBS Group increased their price target on Hercules Capital from $15.00 to $15.50 and gave the stock a “neutral” rating in a report on Monday, May 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hercules Capital in a research report on Wednesday, June 17th. Finally, Piper Sandler lifted their price objective on shares of Hercules Capital from $16.50 to $17.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Hercules Capital currently has a consensus rating of “Moderate Buy” and an average target price of $18.46.

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.