Scott Bluestein Purchases 30,000 Shares of Hercules Capital (NYSE:HTGC) Stock

Hercules Capital, Inc. (NYSE:HTGC) CEO Scott Bluestein acquired 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The stock was purchased at an average cost of $15.08 per share, for a total transaction of $452,400.00. Following the completion of the purchase, the chief executive officer directly owned 2,509,379 shares of the company’s stock, valued at $37,841,435.32. The trade was a 1.21% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Hercules Capital Price Performance

Shares of Hercules Capital stock traded down $0.04 during trading on Tuesday, reaching $15.05. 4,669,017 shares of the company’s stock were exchanged, compared to its average volume of 2,334,131. The firm’s 50-day moving average price is $17.94 and its 200 day moving average price is $18.28. The company has a market cap of $2.77 billion, a P/E ratio of 8.23 and a beta of 0.84. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.48 and a current ratio of 1.48. Hercules Capital, Inc. has a 1-year low of $14.97 and a 1-year high of $21.52.

Hercules Capital (NYSE:HTGC) last posted its quarterly earnings results on Thursday, February 12th. The financial services provider reported $0.48 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.48. Hercules Capital had a net margin of 63.80% and a return on equity of 15.97%. The company had revenue of $133.25 million for the quarter, compared to the consensus estimate of $141.57 million. During the same period last year, the company posted $0.49 EPS. As a group, research analysts anticipate that Hercules Capital, Inc. will post 1.96 earnings per share for the current year.

Hercules Capital Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 25th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, February 25th. Hercules Capital’s dividend payout ratio is presently 87.43%.

Hedge Funds Weigh In On Hercules Capital

A number of institutional investors and hedge funds have recently modified their holdings of HTGC. Wealth Enhancement Advisory Services LLC grew its holdings in Hercules Capital by 173.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 89,575 shares of the financial services provider’s stock worth $1,605,000 after purchasing an additional 56,797 shares during the period. International Assets Investment Management LLC grew its position in Hercules Capital by 308.9% in the 3rd quarter. International Assets Investment Management LLC now owns 79,555 shares of the financial services provider’s stock valued at $1,493,000 after purchasing an additional 60,100 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Hercules Capital by 42.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 884,946 shares of the financial services provider’s stock worth $16,734,000 after acquiring an additional 263,222 shares in the last quarter. Tred Avon Family Wealth LLC purchased a new position in shares of Hercules Capital during the third quarter valued at approximately $1,042,000. Finally, Muzinich & Co. Inc. boosted its holdings in Hercules Capital by 34.5% during the 3rd quarter. Muzinich & Co. Inc. now owns 992,820 shares of the financial services provider’s stock worth $18,774,000 after acquiring an additional 254,651 shares during the last quarter. 19.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on HTGC shares. Keefe, Bruyette & Woods lowered their price objective on Hercules Capital from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Friday, February 13th. Lucid Cap Mkts raised shares of Hercules Capital to a “strong-buy” rating in a research note on Monday, December 15th. Wells Fargo & Company reduced their price objective on shares of Hercules Capital from $18.00 to $17.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. Wall Street Zen lowered Hercules Capital from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Finally, Piper Sandler cut Hercules Capital from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $20.50 to $17.50 in a research note on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.29.

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.