Elevation Point Wealth Partners LLC Acquires Shares of 206,303 Hercules Capital, Inc. $HTGC

Elevation Point Wealth Partners LLC acquired a new position in Hercules Capital, Inc. (NYSE:HTGC) in the first quarter, Holdings Channel reports. The institutional investor acquired 206,303 shares of the financial services provider’s stock, valued at approximately $3,047,000.

A number of other large investors have also recently made changes to their positions in the business. Van ECK Associates Corp raised its position in shares of Hercules Capital by 0.8% during 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 buying an additional 28,757 shares in the last quarter. Sound Income Strategies LLC grew its position in Hercules Capital by 25.1% in the first quarter. Sound Income Strategies LLC now owns 3,382,058 shares of the financial services provider’s stock worth $49,243,000 after acquiring an additional 678,783 shares in the last quarter. LPL Financial LLC increased its stake in 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 acquiring an additional 29,292 shares during the last quarter. UBS Group AG increased its stake in 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 acquiring an additional 353,092 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Hercules Capital by 17.9% during the fourth quarter. Legal & General Group Plc now owns 1,382,084 shares of the financial services provider’s stock valued at $26,004,000 after purchasing an additional 209,854 shares during the period. 19.69% of the stock is currently owned by institutional investors.

Hercules Capital Stock Performance

Shares of NYSE:HTGC opened at $15.97 on Friday. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 1.14. Hercules Capital, Inc. has a 12 month low of $13.70 and a 12 month high of $19.67. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of 9.02 and a beta of 0.79. The firm’s 50-day moving average is $15.62 and its 200 day moving average is $16.21.

Hercules Capital (NYSE:HTGC) last announced its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.01. Hercules Capital had a net margin of 59.85% and a return on equity of 16.05%. The business had revenue of $134.94 million during the quarter, compared to the consensus estimate of $141.39 million. During the same quarter last year, the firm earned $0.45 earnings per share. The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. Research analysts predict that Hercules Capital, Inc. will post 1.93 EPS for the current year.

Hercules Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Thursday, May 14th. Hercules Capital’s dividend payout ratio is presently 90.40%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hercules Capital in a research note on Wednesday, June 17th. UBS Group boosted their target price on Hercules Capital from $15.00 to $15.50 and gave the company a “neutral” rating in a research report on Monday, May 18th. Citizens Jmp decreased their price target on Hercules Capital from $24.00 to $22.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 22nd. Piper Sandler raised their price target on Hercules Capital from $16.50 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Hercules Capital from $19.00 to $18.00 and set an “outperform” rating for the company in a research note on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.21.

Hercules Capital Profile

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.