Hercules Capital (NYSE:HTGC) CEO Scott Bluestein Buys 30,000 Shares

Hercules Capital, Inc. (NYSE:HTGC) CEO Scott Bluestein bought 30,000 shares of the stock in a transaction on Tuesday, February 24th. The shares were acquired at an average cost of $15.08 per share, with a total value of $452,400.00. Following the acquisition, the chief executive officer directly owned 2,509,379 shares in the company, valued at approximately $37,841,435.32. This trade represents a 1.21% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Hercules Capital Trading Down 0.2%

Shares of NYSE:HTGC traded down $0.04 during midday trading on Tuesday, hitting $15.05. The company had a trading volume of 4,669,017 shares, compared to its average volume of 2,334,131. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.03. Hercules Capital, Inc. has a 12 month low of $14.97 and a 12 month high of $21.52. The firm has a fifty day simple moving average of $17.94 and a 200 day simple moving average of $18.28. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of 8.23 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 EPS for the quarter, meeting analysts’ consensus estimates of $0.48. The business had revenue of $133.25 million during the quarter, compared to the consensus estimate of $141.57 million. Hercules Capital had a return on equity of 15.97% and a net margin of 63.80%.During the same quarter in the prior year, the company posted $0.49 earnings per share. On average, analysts predict that Hercules Capital, Inc. will post 1.96 EPS for the current year.

Hercules Capital Cuts Dividend

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

Institutional Investors Weigh In On Hercules Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in HTGC. Van ECK Associates Corp lifted its stake in Hercules Capital by 0.8% in the 3rd quarter. Van ECK Associates Corp now owns 3,647,184 shares of the financial services provider’s stock valued at $68,969,000 after purchasing an additional 28,757 shares during the last quarter. LPL Financial LLC increased its stake in shares of Hercules Capital by 1.6% during the fourth quarter. LPL Financial LLC now owns 1,823,405 shares of the financial services provider’s stock worth $34,316,000 after purchasing an additional 29,292 shares during the period. UBS Group AG lifted its holdings in shares of Hercules Capital by 26.8% during the fourth quarter. UBS Group AG now owns 1,671,860 shares of the financial services provider’s stock worth $31,464,000 after buying an additional 353,092 shares in the last quarter. Legal & General Group Plc raised its stake in Hercules Capital by 17.9% in the 4th quarter. Legal & General Group Plc now owns 1,382,084 shares of the financial services provider’s stock worth $26,004,000 after purchasing an additional 209,854 shares in the last quarter. Finally, Muzinich & Co. Inc. grew its position in Hercules Capital by 34.5% during the fourth quarter. Muzinich & Co. Inc. now owns 1,335,787 shares of the financial services provider’s stock worth $25,140,000 after buying an additional 342,967 shares in the last quarter. 19.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

HTGC has been the subject of several research analyst reports. Wall Street Zen lowered shares of Hercules Capital from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Capital One Financial set a $19.75 price target on Hercules Capital in a research report on Monday, December 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Hercules Capital in a report on Wednesday, January 28th. Lucid Cap Mkts upgraded shares of Hercules Capital to a “strong-buy” rating in a report on Monday, December 15th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Hercules Capital from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Friday, February 13th. One investment 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.