Hercules Capital, Inc. $HTGC Shares Bought by Sound Income Strategies LLC

Sound Income Strategies LLC grew its holdings in Hercules Capital, Inc. (NYSE:HTGC) by 25.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,382,058 shares of the financial services provider’s stock after buying an additional 678,783 shares during the quarter. Hercules Capital accounts for approximately 2.4% of Sound Income Strategies LLC’s holdings, making the stock its biggest holding. Sound Income Strategies LLC owned 1.84% of Hercules Capital worth $49,243,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in HTGC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Hercules Capital in the fourth quarter valued at approximately $27,000. Cornerstone Planning Group LLC bought a new position in Hercules Capital in the fourth quarter valued at approximately $29,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Hercules Capital by 113.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,884 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 1,000 shares during the last quarter. Summit Securities Group LLC raised its holdings in shares of Hercules Capital by 233.3% in the fourth quarter. Summit Securities Group LLC now owns 2,000 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Hercules Capital in the fourth quarter valued at approximately $53,000. Institutional investors and hedge funds own 19.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on HTGC shares. Piper Sandler lifted their price objective on shares of Hercules Capital from $16.50 to $17.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Hercules Capital in a report on Wednesday, June 17th. Citizens Jmp lowered their price objective on shares of Hercules Capital from $24.00 to $22.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 22nd. UBS Group boosted their target price on shares of Hercules Capital from $15.00 to $15.50 and gave the stock a “neutral” rating in a report on Monday, May 18th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Hercules Capital from $19.00 to $18.00 and set an “outperform” rating on the stock in a report on Thursday, April 16th. One 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.21.

Hercules Capital Stock Up 1.9%

HTGC traded up $0.31 during trading on Friday, reaching $16.00. 1,168,767 shares of the stock were exchanged, compared to its average volume of 2,152,618. The stock has a market cap of $2.99 billion, a P/E ratio of 9.04 and a beta of 0.79. Hercules Capital, Inc. has a twelve month low of $13.70 and a twelve month high of $19.67. The stock’s 50 day moving average price is $15.65 and its two-hundred day moving average price is $16.12. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.89 and a current ratio of 1.89.

Hercules Capital (NYSE:HTGC) last released its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01. Hercules Capital had a net margin of 59.85% and a return on equity of 16.05%. The firm had revenue of $134.94 million during the quarter, compared to analysts’ expectations of $141.39 million. During the same period in the previous year, the business posted $0.45 earnings per share. The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. Equities analysts expect that Hercules Capital, Inc. will post 1.93 EPS for the current year.

Hercules Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Thursday, May 14th. Hercules Capital’s payout ratio is 90.40%.

Hercules Capital 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.