Engineers Gate Manager LP Has $606,000 Position in Hercules Capital, Inc. $HTGC

Key Points

• Engineers Gate Manager LP cut its Hercules Capital stake by 90.2% in the second quarter, selling 353,559 shares and retaining 38,413 shares valued at approximately $606,000. Institutional investors and hedge funds collectively own 19.69% of the company.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $18.89; UBS upgraded the stock to “buy” and raised its target to $18.50.
• Hercules Capital reported quarterly EPS of $0.50, beating estimates by $0.02, while revenue rose 8.4% year over year. The company also increased its quarterly dividend to $0.40, representing a 9.3% annualized yield.

Engineers Gate Manager LP lessened its stake in shares of Hercules Capital, Inc. (NYSE:HTGC - Free Report) by 90.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,413 shares of the financial services provider's stock after selling 353,559 shares during the period. Engineers Gate Manager LP's holdings in Hercules Capital were worth $606,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Burk Holdings LLC bought a new stake in Hercules Capital during the second quarter valued at about $28,000. Archer Investment Corp bought a new stake in Hercules Capital during the 2nd quarter valued at approximately $32,000. Fifth Third Bancorp bought a new position in Hercules Capital in the 1st quarter worth approximately $35,000. Caitlin John LLC acquired a new position in shares of Hercules Capital during the second quarter worth approximately $42,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Hercules Capital by 931.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,322 shares of the financial services provider's stock valued at $63,000 after acquiring an additional 3,000 shares during the period. 19.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

HTGC has been the topic of a number of research reports. UBS Group raised shares of Hercules Capital from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $15.50 to $18.50 in a research report on Tuesday, September 1st. Weiss Ratings restated a "hold (c)" rating on shares of Hercules Capital in a research report on Monday, September 14th. Finally, LADENBURG THALM/SH SH dropped their price objective on shares of Hercules Capital from $21.00 to $20.00 and set a "buy" rating on the stock in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Hercules Capital currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.89.

Hercules Capital Trading Down 0.8%

Shares of Hercules Capital stock opened at $17.24 on Wednesday. Hercules Capital, Inc. has a 52-week low of $13.70 and a 52-week high of $19.38. The firm has a market capitalization of $3.23 billion, a PE ratio of 8.58 and a beta of 0.81. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.37 and a quick ratio of 1.37. The company's fifty day moving average price is $16.96 and its two-hundred day moving average price is $15.90.

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

Hercules Capital Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 18th. Stockholders of record on Tuesday, August 11th were paid a $0.40 dividend. The ex-dividend date was Tuesday, August 11th. This represents a $1.60 annualized dividend and a dividend yield of 9.3%. This is a boost from Hercules Capital's previous quarterly dividend of $0.07. Hercules Capital's dividend payout ratio is presently 79.60%.

About Hercules Capital

Hercules Capital, Inc NYSE: HTGC is a specialty finance company and business development company that provides financing to innovative, growth-oriented companies. Its primary focus is venture lending for businesses in the technology, life sciences, and sustainable and renewable technology sectors, including companies supported by venture capital and private equity investors.

The company offers secured term loans, equipment financing, working capital and bridge loans, and other customized debt solutions.

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