PharVision Advisers LLC Takes Position in Hercules Capital, Inc. (NYSE:HTGC)

PharVision Advisers LLC purchased a new stake in shares of Hercules Capital, Inc. (NYSE:HTGC) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 10,111 shares of the financial services provider’s stock, valued at approximately $203,000.

Several other institutional investors have also made changes to their positions in HTGC. Avior Wealth Management LLC lifted its holdings in shares of Hercules Capital by 177.2% during the 4th quarter. Avior Wealth Management LLC now owns 1,802 shares of the financial services provider’s stock valued at $36,000 after buying an additional 1,152 shares during the last quarter. Cornerstone Wealth Management LLC lifted its holdings in shares of Hercules Capital by 7.9% during the 4th quarter. Cornerstone Wealth Management LLC now owns 21,441 shares of the financial services provider’s stock valued at $431,000 after buying an additional 1,568 shares during the last quarter. Sound Income Strategies LLC raised its stake in shares of Hercules Capital by 2.8% in the 4th quarter. Sound Income Strategies LLC now owns 2,815,214 shares of the financial services provider’s stock valued at $56,558,000 after acquiring an additional 77,869 shares in the last quarter. Accel Wealth Management raised its stake in shares of Hercules Capital by 7.3% in the 4th quarter. Accel Wealth Management now owns 17,003 shares of the financial services provider’s stock valued at $342,000 after acquiring an additional 1,154 shares in the last quarter. Finally, Grimes & Company Inc. raised its stake in shares of Hercules Capital by 30.6% in the 4th quarter. Grimes & Company Inc. now owns 25,414 shares of the financial services provider’s stock valued at $511,000 after acquiring an additional 5,962 shares in the last quarter. 19.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on HTGC. JMP Securities reissued a “market outperform” rating and issued a $22.00 price objective on shares of Hercules Capital in a research note on Friday, February 14th. Wells Fargo & Company dropped their price target on Hercules Capital from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. Piper Sandler dropped their price target on Hercules Capital from $23.00 to $20.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Compass Point lifted their price target on Hercules Capital from $18.25 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Finally, UBS Group dropped their price target on Hercules Capital from $20.00 to $18.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $19.92.

Insiders Place Their Bets

In related news, Director Nikos Theodosopoulos acquired 5,999 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The stock was acquired at an average price of $17.49 per share, for a total transaction of $104,922.51. Following the completion of the acquisition, the director now owns 11,960 shares of the company’s stock, valued at $209,180.40. This trade represents a 100.64% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.90% of the company’s stock.

Hercules Capital Stock Performance

Shares of NYSE:HTGC opened at $17.31 on Friday. The business’s fifty day moving average price is $17.90 and its two-hundred day moving average price is $19.21. Hercules Capital, Inc. has a fifty-two week low of $15.65 and a fifty-two week high of $22.04. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 10.75 and a beta of 0.97. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.72 and a quick ratio of 2.72.

Hercules Capital (NYSE:HTGC) last announced its quarterly earnings results on Thursday, May 1st. The financial services provider reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.01). The company had revenue of $102.10 million during the quarter, compared to the consensus estimate of $125.43 million. Hercules Capital had a net margin of 53.28% and a return on equity of 17.19%. The business’s revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the company earned $0.50 earnings per share. As a group, analysts predict that Hercules Capital, Inc. will post 1.96 EPS for the current fiscal year.

Hercules Capital Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Tuesday, May 13th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 9.24%. The ex-dividend date of this dividend was Tuesday, May 13th. Hercules Capital’s dividend payout ratio is currently 120.30%.

Hercules Capital Company 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.