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

Hercules Capital, Inc. (NYSE:HTGC) CEO Scott Bluestein bought 30,000 shares of Hercules Capital stock in a transaction dated Tuesday, February 24th. The stock was acquired at an average cost of $15.08 per share, for a total transaction of $452,400.00. Following the completion of the transaction, 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Hercules Capital Trading Down 0.2%

NYSE:HTGC opened at $15.05 on Wednesday. The firm has a market capitalization of $2.77 billion, a P/E ratio of 8.23 and a beta of 0.84. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.48 and a quick ratio of 1.48. Hercules Capital, Inc. has a one year low of $14.97 and a one year high of $21.52. The company’s 50-day simple moving average is $17.86 and its 200 day simple moving average is $18.25.

Hercules Capital (NYSE:HTGC) last announced its earnings results on Thursday, February 12th. The financial services provider reported $0.48 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.48. Hercules Capital had a net margin of 63.80% and a return on equity of 15.97%. The business had revenue of $133.25 million during the quarter, compared to the consensus estimate of $141.57 million. During the same quarter last year, the firm earned $0.49 earnings per share. As a group, analysts forecast that Hercules Capital, Inc. will post 1.96 EPS for the current fiscal year.

Hercules Capital Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 25th will be paid 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 presently 87.43%.

Wall Street Analysts Forecast Growth

HTGC has been the subject of several analyst reports. Wells Fargo & Company reduced their price target on Hercules Capital from $18.00 to $17.00 and set an “overweight” rating for the company in a report on Friday, February 13th. Keefe, Bruyette & Woods dropped their price target on shares of Hercules Capital from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Friday, February 13th. Piper Sandler lowered shares of Hercules Capital from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $20.50 to $17.50 in a research note on Friday, February 13th. Wall Street Zen cut shares of Hercules Capital from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Hercules Capital in a research note on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $19.29.

Institutional Investors Weigh In On Hercules Capital

Several institutional investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC raised its position in Hercules Capital by 5.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 17,241 shares of the financial services provider’s stock worth $331,000 after buying an additional 959 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Hercules Capital by 85.9% during the 1st quarter. Empowered Funds LLC now owns 22,854 shares of the financial services provider’s stock valued at $439,000 after acquiring an additional 10,559 shares during the last quarter. Focus Partners Wealth grew its stake in shares of Hercules Capital by 26.0% in the first quarter. Focus Partners Wealth now owns 15,747 shares of the financial services provider’s stock worth $302,000 after acquiring an additional 3,250 shares during the period. CWM LLC raised its holdings in shares of Hercules Capital by 79.6% during the second quarter. CWM LLC now owns 1,381 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 612 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in Hercules Capital by 24.4% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 621,724 shares of the financial services provider’s stock valued at $11,365,000 after purchasing an additional 122,025 shares during the period. 19.69% of the stock is owned by hedge funds and other institutional investors.

Hercules Capital Company 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.