Tectonic Advisors LLC Boosts Position in Hercules Capital, Inc. $HTGC

Tectonic Advisors LLC increased its holdings in Hercules Capital, Inc. (NYSE:HTGC) by 10.9% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 689,511 shares of the financial services provider’s stock after buying an additional 67,949 shares during the period. Tectonic Advisors LLC’s holdings in Hercules Capital were worth $13,039,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of HTGC. Royal Bank of Canada lifted its position in Hercules Capital by 2.0% in the first quarter. Royal Bank of Canada now owns 804,077 shares of the financial services provider’s stock valued at $15,446,000 after purchasing an additional 15,724 shares during the last quarter. Border to Coast Pensions Partnership Ltd raised its stake in Hercules Capital by 7.1% in the second quarter. Border to Coast Pensions Partnership Ltd now owns 375,000 shares of the financial services provider’s stock worth $6,855,000 after buying an additional 25,000 shares in the last quarter. Trexquant Investment LP lifted its stake in shares of Hercules Capital by 15.3% in the 1st quarter. Trexquant Investment LP now owns 123,706 shares of the financial services provider’s stock valued at $2,376,000 after purchasing an additional 16,374 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in shares of Hercules Capital by 170.3% during the 1st quarter. Cubist Systematic Strategies LLC now owns 336,988 shares of the financial services provider’s stock valued at $6,474,000 after buying an additional 212,325 shares in the last quarter. Finally, Sound Income Strategies LLC grew its holdings in Hercules Capital by 1.9% in the second quarter. Sound Income Strategies LLC now owns 2,930,340 shares of the financial services provider’s stock worth $53,567,000 after purchasing an additional 55,885 shares during the period. Hedge funds and other institutional investors own 19.69% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Hercules Capital from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Piper Sandler dropped their price target on shares of Hercules Capital from $21.00 to $20.50 and set an “overweight” rating on the stock in a research note on Thursday, October 9th. Lucid Cap Mkts upgraded Hercules Capital to a “strong-buy” rating in a research note on Monday, December 15th. UBS Group dropped their target price on shares of Hercules Capital from $19.00 to $18.50 and set a “neutral” rating for the company in a research report on Tuesday, October 14th. Finally, Capital One Financial set a $19.75 price objective on Hercules Capital in a report on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.32.

Insider Buying and Selling

In other news, Director Gayle A. Crowell acquired 6,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were acquired at an average price of $17.77 per share, with a total value of $106,620.00. Following the purchase, the director directly owned 78,727 shares of the company’s stock, valued at $1,398,978.79. This trade represents a 8.25% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Hercules Capital Trading Up 0.2%

NYSE:HTGC opened at $18.83 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.65 and a current ratio of 1.65. The firm has a market cap of $3.42 billion, a P/E ratio of 10.95 and a beta of 0.84. The firm has a 50-day simple moving average of $18.20 and a 200-day simple moving average of $18.56. Hercules Capital, Inc. has a one year low of $15.65 and a one year 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 business had revenue of $138.09 million for the quarter, compared to analysts’ expectations of $136.95 million. Hercules Capital had a net margin of 60.05% and a return on equity of 16.13%. During the same period last year, the business earned $0.51 EPS. Equities analysts anticipate that Hercules Capital, Inc. will post 1.96 EPS for the current fiscal year.

Hercules Capital Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Wednesday, November 12th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 8.5%. The ex-dividend date of this dividend was Wednesday, November 12th. Hercules Capital’s dividend payout ratio is presently 93.02%.

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.