Pasadena Private Wealth LLC Invests $350,000 in Hercules Capital, Inc. (NYSE:HTGC)

Pasadena Private Wealth LLC acquired a new stake in shares of Hercules Capital, Inc. (NYSE:HTGC) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 18,240 shares of the financial services provider’s stock, valued at approximately $350,000.

Other large investors have also recently added to or reduced their stakes in the company. Ameriflex Group Inc. acquired a new stake in shares of Hercules Capital during the 4th quarter valued at about $29,000. N.E.W. Advisory Services LLC bought a new position in Hercules Capital during the first quarter valued at approximately $30,000. Estabrook Capital Management raised its position in Hercules Capital by 239.0% during the fourth quarter. Estabrook Capital Management now owns 1,878 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 1,324 shares in the last quarter. Bessemer Group Inc. acquired a new stake in Hercules Capital in the first quarter valued at approximately $38,000. Finally, Quarry LP bought a new stake in Hercules Capital in the fourth quarter worth approximately $48,000. Institutional investors and hedge funds own 19.69% of the company’s stock.

Insider Buying and Selling at Hercules Capital

In other Hercules Capital news, Director Nikos Theodosopoulos acquired 5,999 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The stock was acquired at an average price of $17.49 per share, with a total value of $104,922.51. Following the transaction, the director owned 11,960 shares of the company’s stock, valued at approximately $209,180.40. This trade represents a 100.64% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.90% of the company’s stock.

Hercules Capital Price Performance

Shares of NYSE:HTGC opened at $18.92 on Thursday. Hercules Capital, Inc. has a fifty-two week low of $15.65 and a fifty-two week high of $22.04. The business has a 50-day moving average of $18.34 and a two-hundred day moving average of $18.86. The stock has a market capitalization of $3.32 billion, a P/E ratio of 14.23 and a beta of 0.93. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.38 and a quick ratio of 2.38.

Hercules Capital (NYSE:HTGC) last announced its quarterly earnings results on Thursday, May 1st. The financial services provider reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.01). Hercules Capital had a return on equity of 16.84% and a net margin of 45.23%. The company had revenue of $102.10 million during the quarter, compared to analyst estimates of $125.43 million. During the same period in the prior year, the firm earned $0.50 EPS. Hercules Capital’s quarterly revenue was down 1.6% on a year-over-year basis. On average, equities research analysts predict that Hercules Capital, Inc. will post 1.96 EPS for the current fiscal year.

Hercules Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 19th. Investors of record on Tuesday, August 12th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 9.94%. The ex-dividend date is Tuesday, August 12th. This is a boost from Hercules Capital’s previous quarterly dividend of $0.40. Hercules Capital’s payout ratio is currently 120.30%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. UBS Group raised their price target on shares of Hercules Capital from $18.50 to $19.00 and gave the company a “neutral” rating in a report on Wednesday, July 16th. Keefe, Bruyette & Woods cut their target price on Hercules Capital from $21.50 to $20.50 and set an “outperform” rating on the stock in a report on Tuesday, April 8th. Piper Sandler reduced their price target on Hercules Capital from $23.00 to $20.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company reduced their price target on Hercules Capital from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.08.

Hercules Capital Company Profile

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.