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

Pasadena Private Wealth LLC acquired a new stake in shares of Hercules Capital, Inc. (NYSE:HTGC - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 18,240 shares of the financial services provider's stock, valued at approximately $350,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ameriflex Group Inc. purchased a new stake in Hercules Capital in the fourth quarter worth about $29,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Hercules Capital in the 1st quarter worth approximately $30,000. Estabrook Capital Management increased its position in Hercules Capital by 239.0% during the 4th quarter. Estabrook Capital Management now owns 1,878 shares of the financial services provider's stock valued at $38,000 after buying an additional 1,324 shares in the last quarter. Bessemer Group Inc. purchased a new position in Hercules Capital during the first quarter valued at $38,000. Finally, Quarry LP bought a new stake in Hercules Capital in the fourth quarter worth $48,000. Hedge funds and other institutional investors own 19.69% of the company's stock.

Insider Transactions at Hercules Capital

In related news, Director Nikos Theodosopoulos acquired 5,999 shares of Hercules Capital stock in a transaction dated Thursday, May 8th. The shares were purchased at an average price of $17.49 per share, for a total transaction of $104,922.51. Following the completion of the transaction, the director directly owned 11,960 shares in the company, valued at approximately $209,180.40. This represents a 100.64% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.90% of the company's stock.

Hercules Capital Stock Performance

Shares of NYSE:HTGC traded up $0.40 during trading on Friday, hitting $19.16. The company's stock had a trading volume of 1,875,292 shares, compared to its average volume of 1,213,240. 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, Inc. has a 12 month low of $15.65 and a 12 month high of $22.04. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of 14.41 and a beta of 0.93. The company has a 50-day moving average of $18.37 and a 200-day moving average of $18.85.

Hercules Capital (NYSE:HTGC - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The financial services provider reported $0.50 EPS for the quarter, topping the consensus estimate of $0.47 by $0.03. The firm had revenue of $137.46 million for the quarter, compared to the consensus estimate of $129.47 million. Hercules Capital had a return on equity of 16.84% and a net margin of 45.23%. The business's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 earnings per share. On average, sell-side analysts expect that Hercules Capital, Inc. will post 1.96 earnings per share for the current year.

Hercules Capital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 19th. Investors of record on Tuesday, August 12th will be paid a dividend of $0.47 per share. This is a boost from Hercules Capital's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $1.88 annualized dividend and a yield of 9.8%. Hercules Capital's dividend payout ratio is 120.30%.

Analyst Ratings Changes

HTGC has been the subject of several recent analyst reports. UBS Group lifted their price target on Hercules Capital from $18.50 to $19.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 16th. Keefe, Bruyette & Woods decreased their target price on shares of Hercules Capital from $21.50 to $20.50 and set an "outperform" rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company reduced their price target on shares of Hercules Capital from $21.00 to $19.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Finally, Piper Sandler boosted their price target on Hercules Capital from $20.00 to $21.00 and gave the stock an "overweight" rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Hercules Capital presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.25.

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.