Greenwich Investment Management Inc. Boosts Stake in Hercules Capital Inc (NYSE:HTGC)

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Greenwich Investment Management Inc. raised its holdings in shares of Hercules Capital Inc (NYSE:HTGC) by 38.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 174,455 shares of the financial services provider’s stock after buying an additional 48,200 shares during the quarter. Hercules Capital comprises about 2.2% of Greenwich Investment Management Inc.’s holdings, making the stock its 16th largest position. Greenwich Investment Management Inc. owned 0.17% of Hercules Capital worth $2,237,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of HTGC. Trustcore Financial Services LLC bought a new stake in Hercules Capital during the first quarter worth about $25,000. Osborn Williams & Donohoe LLC bought a new stake in Hercules Capital during the first quarter worth about $30,000. West Oak Capital LLC bought a new stake in Hercules Capital during the second quarter worth about $38,000. Advisory Alpha LLC bought a new stake in Hercules Capital during the first quarter worth about $49,000. Finally, Smithfield Trust Co. bought a new stake in Hercules Capital during the first quarter worth about $88,000. Institutional investors and hedge funds own 31.08% of the company’s stock.

HTGC opened at $12.81 on Wednesday. The firm’s 50 day simple moving average is $12.93. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 10.76 and a beta of 0.87. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.31 and a quick ratio of 1.31. Hercules Capital Inc has a one year low of $10.57 and a one year high of $14.17.

Hercules Capital (NYSE:HTGC) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. Hercules Capital had a return on equity of 12.25% and a net margin of 53.97%. The business had revenue of $69.26 million during the quarter, compared to analyst estimates of $63.07 million. During the same quarter in the prior year, the company posted $0.29 EPS. Hercules Capital’s quarterly revenue was up 39.7% compared to the same quarter last year. On average, analysts anticipate that Hercules Capital Inc will post 1.34 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 19th. Shareholders of record on Monday, August 12th will be issued a dividend of $0.32 per share. This is an increase from Hercules Capital’s previous quarterly dividend of $0.31. The ex-dividend date is Friday, August 9th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 9.99%. Hercules Capital’s dividend payout ratio is 107.56%.

Several brokerages have issued reports on HTGC. TheStreet lowered Hercules Capital from a “b-” rating to a “c+” rating in a research note on Monday, July 1st. Wells Fargo & Co lowered Hercules Capital from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $12.75 to $13.25 in a research note on Monday, May 6th. They noted that the move was a valuation call. Zacks Investment Research lowered Hercules Capital from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. B. Riley lowered Hercules Capital from a “buy” rating to a “neutral” rating in a research note on Friday, May 17th. Finally, ValuEngine lowered Hercules Capital from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. Hercules Capital has an average rating of “Hold” and a consensus target price of $13.54.

Hercules Capital Profile

Hercules Capital, Inc is a business development company. The firm specializing in providing venture debt, debt, senior secured loans, and growth capital to privately held venture capital-backed companies at all stages of development from startups, to expansion stage including select publicly listed companies and select special opportunity lower middle market companies that require additional capital to fund acquisitions, recapitalizations and refinancing and established-stage companies.

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Institutional Ownership by Quarter for Hercules Capital (NYSE:HTGC)

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