Sumitomo Mitsui Trust Group Inc. raised its position in shares of Hercules Capital, Inc. (NYSE:HTGC - Free Report) by 12.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 499,699 shares of the financial services provider's stock after buying an additional 56,932 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.28% of Hercules Capital worth $9,599,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in HTGC. Two Sigma Advisers LP grew its position in Hercules Capital by 205.7% in the 4th quarter. Two Sigma Advisers LP now owns 1,406,900 shares of the financial services provider's stock worth $28,265,000 after purchasing an additional 946,700 shares during the period. Marshall Wace LLP bought a new stake in Hercules Capital in the fourth quarter worth $14,871,000. Two Sigma Investments LP lifted its stake in shares of Hercules Capital by 106.7% during the 4th quarter. Two Sigma Investments LP now owns 945,849 shares of the financial services provider's stock worth $19,002,000 after acquiring an additional 488,172 shares during the last quarter. Millennium Management LLC raised its position in Hercules Capital by 1,834.7% during the 4th quarter. Millennium Management LLC now owns 429,125 shares of the financial services provider's stock valued at $8,621,000 after purchasing an additional 406,944 shares in the last quarter. Finally, Voloridge Investment Management LLC bought a new position in Hercules Capital in the fourth quarter worth approximately $7,755,000. 19.69% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other Hercules Capital news, Director Nikos Theodosopoulos acquired 5,999 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was bought at an average cost of $17.49 per share, for a total transaction of $104,922.51. Following the completion of the purchase, the director directly owned 11,960 shares in the company, valued at $209,180.40. This represents a 100.64% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.90% of the company's stock.
Hercules Capital Trading Down 0.9%
HTGC traded down $0.17 during midday trading on Monday, hitting $18.44. The company's stock had a trading volume of 1,095,983 shares, compared to its average volume of 1,118,701. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.99. The firm has a market cap of $3.23 billion, a P/E ratio of 13.86 and a beta of 0.93. The firm has a 50-day moving average price of $17.86 and a two-hundred day moving average price of $18.94. Hercules Capital, Inc. has a 52-week low of $15.65 and a 52-week high of $22.04.
Hercules Capital (NYSE:HTGC - Get Free Report) last released its earnings results on Thursday, May 1st. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.46 by ($0.01). Hercules Capital had a net margin of 45.23% and a return on equity of 16.84%. The company had revenue of $102.10 million during the quarter, compared to analysts' expectations of $125.43 million. During the same quarter in the previous year, the firm posted $0.50 earnings per share. Hercules Capital's revenue for the quarter was down 1.6% compared to the same quarter last year. On average, research analysts anticipate that Hercules Capital, Inc. will post 1.96 earnings per share for the current year.
Hercules Capital Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Tuesday, May 13th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 8.68%. The ex-dividend date was Tuesday, May 13th. Hercules Capital's payout ratio is currently 120.30%.
Analyst Ratings Changes
HTGC has been the topic of a number of research reports. UBS Group cut their price objective on Hercules Capital from $20.00 to $18.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Wells Fargo & Company decreased 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. Piper Sandler decreased their price objective on shares of Hercules Capital from $23.00 to $20.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods reduced their target price on Hercules Capital from $21.50 to $20.50 and set an "outperform" rating for the company in a report on Tuesday, April 8th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Hercules Capital presently has an average rating of "Moderate Buy" and a consensus price target of $19.92.
Read Our Latest Research Report on Hercules Capital
Hercules Capital Profile
(
Free Report)
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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