Elevation Point Wealth Partners LLC Has $2.96 Million Holdings in Hercules Capital, Inc. (NYSE:HTGC)

Elevation Point Wealth Partners LLC increased its stake in shares of Hercules Capital, Inc. (NYSE:HTGC) by 4.3% during the first quarter, HoldingsChannel.com reports. The fund owned 153,851 shares of the financial services provider’s stock after purchasing an additional 6,309 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Hercules Capital were worth $2,955,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in HTGC. Apollon Wealth Management LLC acquired a new position in shares of Hercules Capital during the 4th quarter valued at about $314,000. Empowered Funds LLC acquired a new position in shares of Hercules Capital during the 4th quarter valued at about $247,000. Stephens Inc. AR acquired a new position in shares of Hercules Capital during the 4th quarter valued at about $242,000. Van ECK Associates Corp increased its holdings in shares of Hercules Capital by 10.4% during the 4th quarter. Van ECK Associates Corp now owns 3,438,447 shares of the financial services provider’s stock valued at $69,078,000 after acquiring an additional 323,028 shares during the last quarter. Finally, Naples Global Advisors LLC increased its holdings in shares of Hercules Capital by 1.0% during the 4th quarter. Naples Global Advisors LLC now owns 62,259 shares of the financial services provider’s stock valued at $1,251,000 after acquiring an additional 600 shares during the last quarter. Institutional investors and hedge funds own 19.69% of the company’s stock.

Insider Transactions at Hercules Capital

In other news, Director Nikos Theodosopoulos acquired 5,999 shares of the firm’s stock in a transaction dated Thursday, May 8th. The shares were bought at an average price of $17.49 per share, with a total value of $104,922.51. Following 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

HTGC has been the topic of a number of analyst reports. Wells Fargo & Company lowered their price objective on Hercules Capital from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. UBS Group lowered their price objective on Hercules Capital from $20.00 to $18.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Keefe, Bruyette & Woods lowered their target price on Hercules Capital from $21.50 to $20.50 and set an “outperform” rating on the stock in a report on Tuesday, April 8th. Piper Sandler lowered their target price on Hercules Capital from $23.00 to $20.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Finally, Compass Point raised their target price on Hercules Capital from $18.25 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Hercules Capital currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.92.

Hercules Capital Stock Performance

HTGC opened at $17.97 on Friday. The firm has a market capitalization of $3.15 billion, a P/E ratio of 11.16 and a beta of 0.93. The stock’s 50 day moving average price is $17.60 and its two-hundred day moving average price is $19.06. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.89. Hercules Capital, Inc. has a 12-month low of $15.65 and a 12-month high of $22.04.

Hercules Capital (NYSE:HTGC) last announced its quarterly earnings data on Thursday, May 1st. The financial services provider reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.01). Hercules Capital had a return on equity of 17.19% and a net margin of 53.28%. The firm had revenue of $102.10 million for the quarter, compared to analyst estimates of $125.43 million. During the same period in the previous year, the business posted $0.50 EPS. Hercules Capital’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, equities analysts forecast that Hercules Capital, Inc. will post 1.96 earnings per share for the current year.

Hercules Capital Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Tuesday, May 13th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 8.91%. The ex-dividend date was Tuesday, May 13th. Hercules Capital’s payout ratio is presently 120.30%.

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.