Prossimo Advisors LLC Sells 4,370 Shares of Hercules Capital, Inc. $HTGC

Prossimo Advisors LLC lowered its holdings in shares of Hercules Capital, Inc. (NYSE:HTGC) by 25.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,089 shares of the financial services provider’s stock after selling 4,370 shares during the quarter. Prossimo Advisors LLC’s holdings in Hercules Capital were worth $239,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC bought a new stake in Hercules Capital in the 2nd quarter valued at approximately $522,447,000. Sound Income Strategies LLC lifted its stake in shares of Hercules Capital by 1.9% during the 2nd quarter. Sound Income Strategies LLC now owns 2,930,340 shares of the financial services provider’s stock worth $53,567,000 after buying an additional 55,885 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Hercules Capital by 6.6% during the second quarter. Legal & General Group Plc now owns 1,253,204 shares of the financial services provider’s stock worth $22,909,000 after acquiring an additional 77,187 shares during the period. LPL Financial LLC grew its holdings in Hercules Capital by 14.5% in the 1st quarter. LPL Financial LLC now owns 1,130,362 shares of the financial services provider’s stock valued at $21,714,000 after buying an additional 143,042 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in Hercules Capital by 41.6% during the second quarter. Franklin Resources Inc. now owns 843,114 shares of the financial services provider’s stock worth $15,412,000 after acquiring an additional 247,862 shares during the period. 19.69% of the stock is owned by institutional investors.

Hercules Capital Price Performance

Shares of NYSE HTGC opened at $18.10 on Monday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.68 and a current ratio of 1.68. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 11.98 and a beta of 0.95. The firm’s 50-day simple moving average is $17.89 and its 200 day simple moving average is $18.41. Hercules Capital, Inc. has a fifty-two week low of $15.65 and a fifty-two week high of $22.04.

Hercules Capital (NYSE:HTGC) last released its quarterly earnings results on Thursday, October 30th. The financial services provider reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The company had revenue of $138.09 million for the quarter, compared to analyst estimates of $136.95 million. Hercules Capital had a net margin of 51.46% and a return on equity of 16.54%. During the same period last year, the firm earned $0.51 earnings per share. As a group, research analysts anticipate that Hercules Capital, Inc. will post 1.96 earnings per share for the current fiscal year.

Hercules Capital Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Wednesday, November 12th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $1.60 annualized dividend and a yield of 8.8%. Hercules Capital’s payout ratio is 93.02%.

Wall Street Analysts Forecast Growth

HTGC has been the subject of several analyst reports. Citigroup reaffirmed an “outperform” rating on shares of Hercules Capital in a report on Monday, August 4th. UBS Group dropped their price target on Hercules Capital from $19.00 to $18.50 and set a “neutral” rating for the company in a research note on Tuesday, October 14th. Weiss Ratings reissued a “buy (b-)” rating on shares of Hercules Capital in a report on Friday, October 31st. JMP Securities raised their price objective on Hercules Capital from $22.00 to $24.00 and gave the stock a “market outperform” rating in a research report on Monday, August 4th. Finally, Wall Street Zen lowered shares of Hercules Capital from a “buy” rating to a “hold” rating in a report on Friday. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.42.

Insiders Place Their Bets

In other news, Director Gayle A. Crowell purchased 6,000 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was acquired at an average price of $17.77 per share, with a total value of $106,620.00. Following the transaction, the director directly owned 78,727 shares of the company’s stock, valued at approximately $1,398,978.79. This represents a 8.25% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is owned by corporate insiders.

About Hercules Capital

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.