Rep. Virginia Foxx Purchases Shares of Hercules Capital, Inc. (NYSE:HTGC)

Representative Virginia Foxx (R-North Carolina) recently bought shares of Hercules Capital, Inc. (NYSE:HTGC). In a filing disclosed on November 12th, the Representative disclosed that they had bought between $15,001 and $50,000 in Hercules Capital stock on October 23rd.

Representative Virginia Foxx also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Ellington Financial (NYSE:EFC) on 9/30/2024.
• Purchased $1,001 – $15,000 in shares of Hercules Capital (NYSE:HTGC) on 8/20/2024.
• Purchased $1,001 – $15,000 in shares of Energy Transfer (NYSE:ET) on 8/19/2024.
• Purchased $1,001 – $15,000 in shares of Alliance Resource Partners (NASDAQ:ARLP) on 8/14/2024.

Hercules Capital Stock Down 1.2 %

Shares of Hercules Capital stock traded down $0.22 on Friday, hitting $18.83. 1,081,297 shares of the company’s stock traded hands, compared to its average volume of 936,609. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.94. The firm’s 50-day moving average is $19.63 and its 200 day moving average is $19.70. The stock has a market cap of $3.06 billion, a P/E ratio of 9.43 and a beta of 1.39. Hercules Capital, Inc. has a 52-week low of $15.14 and a 52-week high of $21.78.

Hercules Capital (NYSE:HTGC) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.51. Hercules Capital had a net margin of 65.07% and a return on equity of 17.88%. The company had revenue of $125.25 million for the quarter, compared to the consensus estimate of $125.80 million. During the same period last year, the firm posted $0.52 EPS. Equities analysts anticipate that Hercules Capital, Inc. will post 2.02 earnings per share for the current year.

Hercules Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Wednesday, November 13th will be issued a dividend of $0.48 per share. The ex-dividend date is Wednesday, November 13th. This represents a $1.92 annualized dividend and a dividend yield of 10.20%. Hercules Capital’s payout ratio is currently 79.21%.

Insider Buying and Selling at Hercules Capital

In related news, CEO Scott Bluestein sold 100,000 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $19.59, for a total transaction of $1,959,000.00. Following the completion of the sale, the chief executive officer now owns 2,161,207 shares in the company, valued at $42,338,045.13. This trade represents a 4.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on HTGC. JMP Securities increased their price objective on Hercules Capital from $20.00 to $22.00 and gave the company a “market outperform” rating in a research report on Tuesday, July 30th. Piper Sandler boosted their price target on shares of Hercules Capital from $22.00 to $22.50 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company raised their price objective on shares of Hercules Capital from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.83.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. HHM Wealth Advisors LLC bought a new stake in Hercules Capital in the 2nd quarter valued at $31,000. Kathleen S. Wright Associates Inc. acquired a new stake in Hercules Capital during the third quarter worth about $31,000. Farther Finance Advisors LLC increased its stake in Hercules Capital by 59,650.0% during the third quarter. Farther Finance Advisors LLC now owns 2,390 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 2,386 shares during the period. Strategic Financial Concepts LLC raised its holdings in Hercules Capital by 2,067.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 353,221 shares of the financial services provider’s stock valued at $72,000 after acquiring an additional 336,921 shares in the last quarter. Finally, Hexagon Capital Partners LLC lifted its position in shares of Hercules Capital by 38.8% in the 2nd quarter. Hexagon Capital Partners LLC now owns 4,994 shares of the financial services provider’s stock worth $102,000 after acquiring an additional 1,395 shares during the period. 19.69% of the stock is currently owned by institutional investors and hedge funds.

About Representative Foxx

Virginia Foxx (Republican Party) is a member of the U.S. House, representing North Carolina’s 5th Congressional District. She assumed office on January 3, 2005. Her current term ends on January 3, 2025. Foxx (Republican Party) is running for re-election to the U.S. House to represent North Carolina’s 5th Congressional District. She declared candidacy for the 2024 election. Prior to her election to the U.S. House, Foxx served as a member of the North Carolina State Senate as well as deputy secretary for management for North Carolina. Foxx was born in New York, New York. She earned a B.A. and M.A.C.T. from the University of North Carolina, Chapel Hill, in 1968 and 1972, respectively, and an Ed.D. from the University of North Carolina, Greensboro, in 1985. Foxx worked as an instructor at Caldwell Community College in Hudson, NC, and an instructor and assistant dean at Appalachian State University in Boone, NC. She owned a landscape nursery and served as Deputy Secretary for Management at the North Carolina Department of Administration.

About Hercules Capital

Hercules Capital, Inc is a business development company. The firm specializing in providing venture debt, debt, senior secured loans, and growth capital to privately held venture capital-backed companies at all stages of development from startups to expansion stage including select publicly listed companies and select special opportunity lower middle market companies that require additional capital to fund acquisitions, recapitalizations and refinancing and established-stage companies.