Hercules Capital, Inc. $HTGC Shares Sold by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP significantly reduced its holding in Hercules Capital, Inc. by 84.7%, selling 93,026 shares and leaving them with 16,765 shares valued at $322,000.
• Hercules Capital raised its quarterly dividend from $0.40 to $0.47, representing a 9.7% yield and a payout ratio of approximately 106%.
• Analysts have a consensus rating of "Moderate Buy" for Hercules Capital, with a target price averaging $20.58, following several upgrades from firms like Piper Sandler and JMP Securities.

Quantbot Technologies LP cut its position in shares of Hercules Capital, Inc. (NYSE:HTGC - Free Report) by 84.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,765 shares of the financial services provider's stock after selling 93,026 shares during the quarter. Quantbot Technologies LP's holdings in Hercules Capital were worth $322,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HTGC. Invesco Ltd. raised its holdings in Hercules Capital by 11.7% during the fourth quarter. Invesco Ltd. now owns 93,680 shares of the financial services provider's stock worth $1,882,000 after purchasing an additional 9,831 shares during the last quarter. Barclays PLC purchased a new position in Hercules Capital during the fourth quarter worth $1,427,000. Integrated Wealth Concepts LLC purchased a new position in Hercules Capital during the fourth quarter worth $327,000. Aquatic Capital Management LLC purchased a new position in Hercules Capital during the fourth quarter worth $2,082,000. Finally, Prosperity Consulting Group LLC increased its position in Hercules Capital by 10.2% during the fourth quarter. Prosperity Consulting Group LLC now owns 13,406 shares of the financial services provider's stock worth $269,000 after buying an additional 1,239 shares in the last quarter. 19.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Piper Sandler raised their price target on Hercules Capital from $20.00 to $21.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. UBS Group raised 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. JMP Securities raised their price target on Hercules Capital from $22.00 to $24.00 and gave the stock a "market outperform" rating in a research report on Monday, August 4th. Finally, Citigroup reissued an "outperform" rating on shares of Hercules Capital in a research report on Monday, August 4th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $20.58.

Hercules Capital Price Performance

Shares of NYSE:HTGC opened at $19.32 on Wednesday. The company has a market cap of $3.51 billion, a P/E ratio of 12.79 and a beta of 0.94. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.96. Hercules Capital, Inc. has a 52 week low of $15.65 and a 52 week high of $22.04. The business has a fifty day simple moving average of $18.91 and a 200-day simple moving average of $18.65.

Hercules Capital (NYSE:HTGC - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.03. The business had revenue of $137.46 million during the quarter, compared to the consensus estimate of $129.47 million. Hercules Capital had a return on equity of 16.54% and a net margin of 51.46%.The business's revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 earnings per share. Equities research analysts forecast that Hercules Capital, Inc. will post 1.96 EPS for the current year.

Hercules Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Tuesday, August 12th were given a $0.47 dividend. This is an increase from Hercules Capital's previous quarterly dividend of $0.40. This represents a $1.88 dividend on an annualized basis and a dividend yield of 9.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Hercules Capital's dividend payout ratio (DPR) is presently 105.96%.

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.

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