Envestnet Asset Management Inc. Sells 86,580 Shares of Hercules Capital, Inc. (NYSE:HTGC)

Envestnet Asset Management Inc. reduced its stake in shares of Hercules Capital, Inc. (NYSE:HTGC - Free Report) by 39.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 134,455 shares of the financial services provider's stock after selling 86,580 shares during the quarter. Envestnet Asset Management Inc. owned 0.08% of Hercules Capital worth $2,701,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Morse Asset Management Inc increased its position in shares of Hercules Capital by 1.7% in the 3rd quarter. Morse Asset Management Inc now owns 34,900 shares of the financial services provider's stock valued at $685,000 after purchasing an additional 600 shares during the last quarter. Virtu Financial LLC lifted its position in Hercules Capital by 97.5% in the third quarter. Virtu Financial LLC now owns 19,275 shares of the financial services provider's stock valued at $379,000 after purchasing an additional 9,517 shares during the period. Sanctuary Advisors LLC grew its holdings in Hercules Capital by 56.5% during the third quarter. Sanctuary Advisors LLC now owns 18,818 shares of the financial services provider's stock worth $353,000 after acquiring an additional 6,792 shares during the period. Tidal Investments LLC boosted its position in shares of Hercules Capital by 8.1% during the 3rd quarter. Tidal Investments LLC now owns 76,262 shares of the financial services provider's stock worth $1,498,000 after purchasing an additional 5,704 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Hercules Capital by 28.0% during the 3rd quarter. Franklin Resources Inc. now owns 387,225 shares of the financial services provider's stock worth $7,667,000 after purchasing an additional 84,780 shares during the period. 19.69% of the stock is owned by hedge funds and other institutional investors.

Hercules Capital Stock Performance

Hercules Capital stock traded up $0.21 on Thursday, reaching $18.11. 250,530 shares of the stock were exchanged, compared to its average volume of 1,236,252. The stock has a market cap of $3.18 billion, a PE ratio of 11.25 and a beta of 1.13. The firm has a fifty day moving average price of $18.50 and a two-hundred day moving average price of $19.46. Hercules Capital, Inc. has a twelve month low of $15.65 and a twelve month high of $22.04. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.89.

Hercules Capital (NYSE:HTGC - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.49. The firm had revenue of $121.78 million during the quarter, compared to the consensus estimate of $124.09 million. Hercules Capital had a net margin of 53.28% and a return on equity of 17.19%. Sell-side analysts anticipate that Hercules Capital, Inc. will post 1.96 EPS for the current year.

Hercules Capital Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Tuesday, May 13th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 8.84%. The ex-dividend date of this dividend is Tuesday, May 13th. Hercules Capital's dividend payout ratio (DPR) is presently 99.38%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on HTGC shares. Wells Fargo & Company decreased their price target on Hercules Capital from $21.00 to $19.00 and set an "overweight" rating on the stock in a research note on Monday. Piper Sandler cut their price objective on shares of Hercules Capital from $23.00 to $20.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. JMP Securities reissued a "market outperform" rating and issued a $22.00 target price on shares of Hercules Capital in a research report on Friday, February 14th. Compass Point upped their price target on Hercules Capital from $18.25 to $20.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Finally, UBS Group decreased their price objective on shares of Hercules Capital from $20.00 to $18.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $19.92.

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.