24,200 Shares in Hercules Capital, Inc. (NYSE:HTGC) Purchased by Summit Global Investments

Summit Global Investments acquired a new stake in shares of Hercules Capital, Inc. (NYSE:HTGC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 24,200 shares of the financial services provider's stock, valued at approximately $465,000.

Other institutional investors also recently bought and sold shares of the company. Ares Management LLC boosted its stake in Hercules Capital by 14.3% in the fourth quarter. Ares Management LLC now owns 226,606 shares of the financial services provider's stock valued at $4,553,000 after acquiring an additional 28,300 shares in the last quarter. Left Brain Wealth Management LLC boosted its stake in Hercules Capital by 32.2% in the fourth quarter. Left Brain Wealth Management LLC now owns 275,876 shares of the financial services provider's stock valued at $5,542,000 after acquiring an additional 67,215 shares in the last quarter. Tectonic Advisors LLC boosted its stake in Hercules Capital by 14.0% in the fourth quarter. Tectonic Advisors LLC now owns 493,808 shares of the financial services provider's stock valued at $9,921,000 after acquiring an additional 60,776 shares in the last quarter. Marshall Wace LLP acquired a new stake in Hercules Capital in the fourth quarter valued at approximately $14,871,000. Finally, Ameriprise Financial Inc. boosted its stake in Hercules Capital by 9.7% in the fourth quarter. Ameriprise Financial Inc. now owns 325,912 shares of the financial services provider's stock valued at $6,548,000 after acquiring an additional 28,812 shares in the last quarter. 19.69% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Nikos Theodosopoulos acquired 5,999 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was acquired at an average price of $17.49 per share, for a total transaction of $104,922.51. Following the completion of the transaction, the director now owns 11,960 shares in the company, valued at approximately $209,180.40. The trade was a 100.64% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.90% of the company's stock.

Hercules Capital Stock Performance

Shares of HTGC stock traded up $0.14 on Thursday, hitting $17.86. The company had a trading volume of 927,915 shares, compared to its average volume of 1,102,699. The firm has a market cap of $3.13 billion, a P/E ratio of 11.09 and a beta of 0.97. The company has a 50-day moving average price of $17.57 and a 200-day moving average price of $19.09. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.89. Hercules Capital, Inc. has a twelve month low of $15.65 and a twelve month high of $22.04.

Hercules Capital (NYSE:HTGC - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.01). The company had revenue of $102.10 million during the quarter, compared to analyst estimates of $125.43 million. Hercules Capital had a net margin of 53.28% and a return on equity of 17.19%. The business's quarterly revenue was down 1.6% compared to the same quarter last year. During the same period last year, the firm earned $0.50 EPS. As a group, equities research analysts predict that Hercules Capital, Inc. will post 1.96 earnings per share for the current fiscal year.

Hercules Capital Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Tuesday, May 13th were given a $0.40 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 8.96%. Hercules Capital's dividend payout ratio (DPR) is currently 120.30%.

Analyst Ratings Changes

Several brokerages have weighed in on HTGC. Piper Sandler lowered their target price on shares of Hercules Capital from $23.00 to $20.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Wells Fargo & Company lowered their price objective on shares of Hercules Capital from $21.00 to $19.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. UBS Group lowered their price objective on shares of Hercules Capital from $20.00 to $18.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. JMP Securities reiterated a "market outperform" rating and set a $22.00 price objective on shares of Hercules Capital in a research note on Friday, February 14th. Finally, Compass Point lifted their price objective on shares of Hercules Capital from $18.25 to $20.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $19.92.

Hercules Capital Profile

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.