Beacon Pointe Advisors LLC Invests $1.05 Million in Hercules Capital, Inc. $HTGC

Key Points

• Beacon Pointe Advisors acquired 66,395 Hercules Capital shares worth approximately $1.05 million in the second quarter. Institutional investors collectively own 19.69% of the company.
• Hercules Capital reported quarterly EPS of $0.50, exceeding analysts’ $0.48 estimate, while revenue rose 8.4% year over year to $134.41 million but fell short of expectations.
• The company increased its quarterly dividend to $0.40, implying a $1.60 annualized payout and a 9.1% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $18.46.

Beacon Pointe Advisors LLC acquired a new stake in shares of Hercules Capital, Inc. (NYSE:HTGC - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 66,395 shares of the financial services provider's stock, valued at approximately $1,047,000.

Other institutional investors also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Hercules Capital in the fourth quarter worth about $27,000. Burk Holdings LLC purchased a new stake in Hercules Capital in the 2nd quarter worth approximately $28,000. Cornerstone Planning Group LLC bought a new stake in Hercules Capital during the 4th quarter worth approximately $29,000. Fifth Third Bancorp purchased a new position in Hercules Capital during the first quarter valued at approximately $35,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake 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 worth $35,000 after purchasing an additional 1,000 shares in the last quarter. 19.69% of the stock is owned by institutional investors.

Hercules Capital Stock Up 1.0%

Shares of HTGC stock opened at $17.65 on Tuesday. The stock has a market cap of $3.30 billion, a P/E ratio of 8.78 and a beta of 0.79. Hercules Capital, Inc. has a 52 week low of $13.70 and a 52 week high of $19.62. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 1.03. The company's fifty day simple moving average is $16.39 and its two-hundred day simple moving average is $15.66.

Hercules Capital (NYSE:HTGC - Get Free Report) last issued its earnings results on Thursday, July 30th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. Hercules Capital had a return on equity of 16.01% and a net margin of 67.68%.The firm had revenue of $134.41 million for the quarter, compared to analysts' expectations of $146.71 million. During the same period in the previous year, the firm posted $0.50 earnings per share. The business's revenue was up 8.4% compared to the same quarter last year. Analysts predict that Hercules Capital, Inc. will post 1.95 EPS for the current fiscal year.

Hercules Capital Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 18th. Investors of record on Tuesday, August 11th were given a $0.40 dividend. This is a boost from Hercules Capital's previous quarterly dividend of $0.07. This represents a $1.60 annualized dividend and a yield of 9.1%. The ex-dividend date was Tuesday, August 11th. Hercules Capital's dividend payout ratio (DPR) is presently 79.60%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on HTGC. UBS Group raised their price objective on shares of Hercules Capital from $15.00 to $15.50 and gave the company a "neutral" rating in a research report on Monday, May 18th. Weiss Ratings reissued a "hold (c)" rating on shares of Hercules Capital in a report on Wednesday, June 17th. LADENBURG THALM/SH SH lowered their price objective on Hercules Capital from $21.00 to $20.00 and set a "buy" rating on the stock in a research report on Friday, July 31st. Finally, Piper Sandler upped their price objective on Hercules Capital from $16.50 to $17.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.46.

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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