Key Points
- Director Robert Badavas bought 5,000 shares on Feb. 24 at an average price of $15.01, increasing his stake 4.46% to 117,073 shares (≈$1.76M) as disclosed in an SEC filing.
- The company cut its quarterly dividend to $0.07 per share (annualized $0.28, yield 1.8%), with an ex-dividend date of Feb. 25 and a payout ratio around 87%; the dividend is payable Mar. 4.
- Shares trade near $15.25, close to the 1‑year low of $14.57, after Q results where EPS matched estimates ($0.48) but revenue missed, and analysts hold a consensus "Moderate Buy" with an average price target of $19.29.
Hercules Capital, Inc. (NYSE:HTGC - Get Free Report) Director Robert Badavas bought 5,000 shares of Hercules Capital stock in a transaction dated Tuesday, February 24th. The stock was purchased at an average cost of $15.01 per share, with a total value of $75,050.00. Following the completion of the acquisition, the director directly owned 117,073 shares in the company, valued at approximately $1,757,265.73. The trade was a 4.46% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.
Hercules Capital Stock Performance
HTGC traded up $0.14 during trading on Thursday, hitting $15.25. 1,628,167 shares of the stock were exchanged, compared to its average volume of 2,371,291. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.03. Hercules Capital, Inc. has a 1-year low of $14.57 and a 1-year high of $21.14. The stock has a fifty day moving average price of $17.79 and a two-hundred day moving average price of $18.23. The firm has a market capitalization of $2.80 billion, a P/E ratio of 8.35 and a beta of 0.84.
Hercules Capital (NYSE:HTGC - Get Free Report) last announced its earnings results on Thursday, February 12th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.48. The business had revenue of $133.25 million for the quarter, compared to analyst estimates of $141.57 million. Hercules Capital had a net margin of 63.80% and a return on equity of 15.97%. During the same period last year, the firm posted $0.49 earnings per share. As a group, sell-side analysts predict that Hercules Capital, Inc. will post 1.96 earnings per share for the current year.
Hercules Capital Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders 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 annualized dividend and a dividend yield of 1.8%. Hercules Capital's dividend payout ratio is 87.43%.
Analysts Set New Price Targets
HTGC has been the topic of a number of recent research reports. Wall Street Zen lowered Hercules Capital from a "buy" rating to a "hold" rating in a report on Saturday, December 20th. Capital One Financial set a $19.75 price objective on Hercules Capital in a report on Monday, December 15th. Wells Fargo & Company lowered their price target on shares of Hercules Capital from $18.00 to $17.00 and set an "overweight" 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 lowered their target price for the stock from $20.50 to $17.50 in a research report on Friday, February 13th. Finally, Weiss Ratings downgraded shares of Hercules Capital from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $19.29.
Check Out Our Latest Stock Report on Hercules Capital
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC grew its stake in shares of Hercules Capital by 173.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 89,575 shares of the financial services provider's stock valued at $1,605,000 after buying an additional 56,797 shares during the period. International Assets Investment Management LLC lifted its position in Hercules Capital by 308.9% during the 3rd quarter. International Assets Investment Management LLC now owns 79,555 shares of the financial services provider's stock worth $1,493,000 after acquiring an additional 60,100 shares in the last quarter. Tred Avon Family Wealth LLC purchased a new position in shares of Hercules Capital in the third quarter valued at $1,042,000. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Hercules Capital by 42.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 884,946 shares of the financial services provider's stock valued at $16,734,000 after acquiring an additional 263,222 shares in the last quarter. Finally, Muzinich & Co. Inc. increased its holdings in Hercules Capital by 34.5% during the 3rd quarter. Muzinich & Co. Inc. now owns 992,820 shares of the financial services provider's stock worth $18,774,000 after purchasing an additional 254,651 shares during the last quarter. 19.69% of the stock is currently owned by hedge funds and other institutional investors.
About Hercules Capital
(
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.
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