Sound Income Strategies LLC grew its holdings in Hercules Capital, Inc. (NYSE:HTGC – Get Rating) by 10.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,441,754 shares of the financial services provider’s stock after buying an additional 235,707 shares during the quarter. Hercules Capital accounts for approximately 4.1% of Sound Income Strategies LLC’s holdings, making the stock its 4th biggest holding. Sound Income Strategies LLC owned 1.88% of Hercules Capital worth $32,280,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. Toroso Investments LLC raised its stake in shares of Hercules Capital by 2.0% in the 3rd quarter. Toroso Investments LLC now owns 44,524 shares of the financial services provider’s stock valued at $516,000 after buying an additional 873 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Hercules Capital by 10.7% in the 3rd quarter. IFP Advisors Inc now owns 9,515 shares of the financial services provider’s stock valued at $136,000 after buying an additional 920 shares in the last quarter. BDO Wealth Advisors LLC grew its holdings in shares of Hercules Capital by 76.4% in the 2nd quarter. BDO Wealth Advisors LLC now owns 2,217 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 960 shares during the last quarter. Orion Capital Management LLC grew its holdings in shares of Hercules Capital by 25.0% in the 3rd quarter. Orion Capital Management LLC now owns 5,000 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 1,000 shares during the last quarter. Finally, CAPROCK Group Inc. grew its holdings in shares of Hercules Capital by 6.3% in the 3rd quarter. CAPROCK Group Inc. now owns 17,000 shares of the financial services provider’s stock worth $197,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 23.77% of the company’s stock.
Hercules Capital Price Performance
NYSE:HTGC traded down $0.15 during mid-day trading on Friday, reaching $11.90. 2,668,801 shares of the company were exchanged, compared to its average volume of 1,513,114. Hercules Capital, Inc. has a 12 month low of $10.94 and a 12 month high of $19.09. The company has a fifty day moving average of $14.37 and a 200 day moving average of $13.81. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.12. The stock has a market cap of $1.62 billion, a PE ratio of 15.66 and a beta of 1.43.
Hercules Capital Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 9th. Shareholders of record on Thursday, March 2nd were given a dividend of $0.39 per share. The ex-dividend date was Wednesday, March 1st. This is an increase from Hercules Capital’s previous quarterly dividend of $0.36. This represents a $1.56 dividend on an annualized basis and a yield of 13.11%. Hercules Capital’s dividend payout ratio is presently 205.26%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on the stock. StockNews.com assumed coverage on shares of Hercules Capital in a report on Thursday. They issued a “hold” rating on the stock. Royal Bank of Canada upped their target price on shares of Hercules Capital from $16.00 to $17.00 and gave the stock an “outperform” rating in a report on Friday, February 17th. JMP Securities reaffirmed a “market outperform” rating and issued a $18.00 target price on shares of Hercules Capital in a report on Monday, March 13th. Piper Sandler lowered their target price on shares of Hercules Capital from $15.00 to $14.50 in a report on Friday, December 16th. Finally, Keefe, Bruyette & Woods lowered shares of Hercules Capital from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $14.50 to $10.50 in a report on Monday, March 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Hercules Capital presently has a consensus rating of “Hold” and an average target price of $14.93.
Hercules Capital Company Profile
Hercules is the largest non-bank lender to venture capital-backed companies at all stages of development in a broadly diversified variety of technology, life sciences, and sustainable and renewable technology industries. With over a decade of experience in venture debt, Hercules is uniquely positioned to quickly create innovative financing solutions that perfectly fit within a company’s existing capital structure and map to its business objectives.
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