19,273,267 Shares in Hercules Capital, Inc. $HTGC Purchased by Quantum Portfolio Management LLC

Key Points

• Quantum Portfolio Management LLC disclosed a new first-quarter stake in Hercules Capital, buying 19.27 million shares valued at about $284.7 million. The position represents roughly 10.49% of Hercules Capital and is Quantum’s sixth-largest holding.
• Several other institutional investors also increased their holdings, and hedge funds and other institutions now own about 19.69% of the stock. This suggests continued institutional interest in HTGC.
• Hercules Capital reported quarterly EPS of $0.48, topping estimates, while revenue rose 18.4% year over year. The company also paid a quarterly dividend of $0.07 per share, equal to an annualized yield of about 1.8%.

Quantum Portfolio Management LLC bought a new stake in Hercules Capital, Inc. (NYSE:HTGC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 19,273,267 shares of the financial services provider's stock, valued at approximately $284,666,000. Hercules Capital comprises approximately 3.0% of Quantum Portfolio Management LLC's investment portfolio, making the stock its 6th biggest position. Quantum Portfolio Management LLC owned about 10.49% of Hercules Capital as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tectonic Advisors LLC boosted its position in Hercules Capital by 10.2% during the fourth quarter. Tectonic Advisors LLC now owns 759,746 shares of the financial services provider's stock worth $14,298,000 after acquiring an additional 70,235 shares during the last quarter. Prevail Innovative Wealth Advisors LLC raised its holdings in Hercules Capital by 123.6% in the 4th quarter. Prevail Innovative Wealth Advisors LLC now owns 239,614 shares of the financial services provider's stock valued at $4,510,000 after acquiring an additional 132,466 shares during the last quarter. Triad Investment Management purchased a new position in shares of Hercules Capital during the 4th quarter worth $1,958,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Hercules Capital by 15.1% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,018,759 shares of the financial services provider's stock worth $19,173,000 after purchasing an additional 133,813 shares during the period. Finally, UBS Group AG boosted its holdings in shares of Hercules Capital by 26.8% during the fourth quarter. UBS Group AG now owns 1,671,860 shares of the financial services provider's stock worth $31,464,000 after purchasing an additional 353,092 shares during the last quarter. 19.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. UBS Group increased their target price on Hercules Capital from $15.00 to $15.50 and gave the stock a "neutral" rating in a research report on Monday, May 18th. Piper Sandler increased their price objective on shares of Hercules Capital from $16.50 to $17.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. Citizens Jmp lowered their target price on shares of Hercules Capital from $24.00 to $22.00 and set a "market outperform" rating for the company in a report on Wednesday, April 22nd. Keefe, Bruyette & Woods cut their price target on shares of Hercules Capital from $19.00 to $18.00 and set an "outperform" rating on the stock in a research note on Thursday, April 16th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Hercules Capital in a report on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $18.21.

Hercules Capital Trading Down 0.6%

NYSE HTGC opened at $15.90 on Thursday. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 8.98 and a beta of 0.79. 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, Inc. has a one year low of $13.70 and a one year high of $19.67. The company's 50 day moving average price is $15.65 and its 200 day moving average price is $16.14.

Hercules Capital (NYSE:HTGC - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.01. Hercules Capital had a net margin of 59.85% and a return on equity of 16.05%. The company had revenue of $134.94 million during the quarter, compared to the consensus estimate of $141.39 million. During the same period in the previous year, the firm earned $0.45 earnings per share. Hercules Capital's revenue for the quarter was up 18.4% on a year-over-year basis. On average, sell-side analysts predict that Hercules Capital, Inc. will post 1.93 EPS for the current year.

Hercules Capital Announces Dividend

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 $0.07 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $0.28 annualized dividend and a yield of 1.8%. Hercules Capital's dividend payout ratio (DPR) 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.

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