Insider Buying: Hercules Capital (NYSE:HTGC) Director Acquires 20,000 Shares of Stock

Hercules Capital, Inc. (NYSE:HTGC) Director Thomas Fallon purchased 20,000 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were acquired at an average cost of $15.88 per share, for a total transaction of $317,600.00. Following the completion of the transaction, the director directly owned 120,369 shares in the company, valued at approximately $1,911,459.72. This represents a 19.93% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Hercules Capital Stock Down 1.8%

HTGC traded down $0.30 during trading on Thursday, reaching $15.67. 1,219,667 shares of the stock were exchanged, compared to its average volume of 2,002,494. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.48 and a current ratio of 1.48. The stock’s 50 day moving average price is $18.14 and its two-hundred day moving average price is $18.38. Hercules Capital, Inc. has a twelve month low of $15.40 and a twelve month high of $22.03. The stock has a market cap of $2.88 billion, a P/E ratio of 8.54 and a beta of 0.84.

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

Hercules Capital Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 25th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Wednesday, February 25th. Hercules Capital’s payout ratio is presently 87.43%.

Institutional Investors Weigh In On Hercules Capital

Hedge funds have recently made changes to their positions in the business. CWM LLC lifted its position in shares of Hercules Capital by 79.6% during the second quarter. CWM LLC now owns 1,381 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 612 shares in the last quarter. Assetmark Inc. grew its position in Hercules Capital by 173.4% during the second quarter. Assetmark Inc. now owns 1,386 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 879 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Hercules Capital in the fourth quarter worth $27,000. GHP Investment Advisors Inc. purchased a new position in shares of Hercules Capital in the second quarter worth about $27,000. Finally, Caitlin John LLC bought a new stake in Hercules Capital in the 3rd quarter worth $29,000. 19.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on HTGC shares. Wall Street Zen lowered shares of Hercules Capital from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Weiss Ratings restated a “buy (b-)” rating on shares of Hercules Capital in a research report on Wednesday, January 28th. Keefe, Bruyette & Woods reduced their price objective on shares of Hercules Capital from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Friday, February 13th. Wells Fargo & Company lowered their target price on shares of Hercules Capital from $18.00 to $17.00 and set an “overweight” rating for the company in a research note on Friday, February 13th. Finally, Lucid Cap Mkts raised shares of Hercules Capital to a “strong-buy” rating in a research report on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $19.29.

Hercules Capital Company Profile

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.