Key Points
- Scott Bluestein, Hercules Capital's CEO, bought 30,000 shares on Feb. 24 at an average price of $15.08 (≈$452,400), boosting his holdings to 2,509,379 shares—a 1.21% increase valued at about $37.84 million.
- Hercules reported Q results with EPS of $0.48 (in line with estimates) but revenue of $133.25M missed consensus, and it declared a quarterly dividend of $0.07 (annualized $0.28) for a ~1.9% yield and an ~87.4% payout ratio.
Hercules Capital, Inc. (NYSE:HTGC - Get Free Report) CEO Scott Bluestein purchased 30,000 shares of the stock in a transaction dated Tuesday, February 24th. The shares were purchased at an average cost of $15.08 per share, for a total transaction of $452,400.00. Following the completion of the acquisition, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Hercules Capital Stock Performance
HTGC stock opened at $15.05 on Wednesday. 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 1 year low of $14.97 and a 1 year high of $21.52. The company has a market cap of $2.77 billion, a P/E ratio of 8.23 and a beta of 0.84. The stock's fifty day moving average price is $17.86 and its 200-day moving average price is $18.25.
Hercules Capital (NYSE:HTGC - Get Free Report) last posted 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. The company had revenue of $133.25 million for the quarter, compared to the consensus estimate of $141.57 million. Hercules Capital had a return on equity of 15.97% and a net margin of 63.80%.During the same quarter in the prior year, the company earned $0.49 earnings per share. 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 firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 25th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Wednesday, February 25th. Hercules Capital's dividend payout ratio is 87.43%.
Institutional Trading of Hercules Capital
Institutional investors and hedge funds have recently modified their holdings of the company. CWM LLC boosted its holdings in Hercules Capital by 79.6% in the 2nd quarter. CWM LLC now owns 1,381 shares of the financial services provider's stock worth $25,000 after buying an additional 612 shares during the period. Fox Run Management L.L.C. lifted its position in shares of Hercules Capital by 2.8% in the fourth quarter. Fox Run Management L.L.C. now owns 24,354 shares of the financial services provider's stock valued at $458,000 after acquiring an additional 657 shares in the last quarter. Centaurus Financial Inc. lifted its position in shares of Hercules Capital by 1.8% in the third quarter. Centaurus Financial Inc. now owns 37,819 shares of the financial services provider's stock valued at $715,000 after acquiring an additional 675 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Hercules Capital by 11.4% in the third quarter. Allworth Financial LP now owns 6,652 shares of the financial services provider's stock worth $126,000 after acquiring an additional 680 shares during the period. Finally, Rockefeller Capital Management L.P. grew its position in shares of Hercules Capital by 0.5% during the second quarter. Rockefeller Capital Management L.P. now owns 143,346 shares of the financial services provider's stock worth $2,620,000 after purchasing an additional 697 shares in the last quarter. 19.69% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the stock. Capital One Financial set a $19.75 target price on shares of Hercules Capital in a research report on Monday, December 15th. 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. Weiss Ratings restated a "buy (b-)" rating on shares of Hercules Capital in a research note on Wednesday, January 28th. Wells Fargo & Company decreased their target price on Hercules Capital from $18.00 to $17.00 and set an "overweight" rating on the stock in a report on Friday, February 13th. Finally, Lucid Cap Mkts upgraded Hercules Capital to a "strong-buy" rating in a research report on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $19.29.
Read Our Latest Report on HTGC
Hercules Capital Company Profile
(
Get Free Report)
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.
Further Reading
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