Tectonic Advisors LLC Grows Stock Holdings in Hercules Capital, Inc. (NYSE:HTGC)

Tectonic Advisors LLC raised its position in shares of Hercules Capital, Inc. (NYSE:HTGC - Free Report) by 7.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 531,792 shares of the financial services provider's stock after purchasing an additional 37,984 shares during the period. Tectonic Advisors LLC owned approximately 0.30% of Hercules Capital worth $10,216,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of HTGC. Ameriflex Group Inc. purchased a new position in shares of Hercules Capital during the 4th quarter worth approximately $29,000. Estabrook Capital Management grew its holdings in shares of Hercules Capital by 239.0% during the 4th quarter. Estabrook Capital Management now owns 1,878 shares of the financial services provider's stock worth $38,000 after acquiring an additional 1,324 shares during the period. Bessemer Group Inc. purchased a new position in shares of Hercules Capital during the 1st quarter worth approximately $38,000. Quarry LP bought a new stake in shares of Hercules Capital in the 4th quarter worth approximately $48,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Hercules Capital in the 4th quarter worth approximately $80,000. Institutional investors own 19.69% of the company's stock.

Insider Buying and Selling at Hercules Capital

In other Hercules Capital news, Director Nikos Theodosopoulos acquired 5,999 shares of the stock in a transaction on Thursday, May 8th. The shares were bought at an average price of $17.49 per share, with a total value of $104,922.51. Following the acquisition, the director owned 11,960 shares of the company's stock, valued at $209,180.40. This trade represents a 100.64% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.90% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on HTGC. Wells Fargo & Company lowered their target price on Hercules Capital from $21.00 to $19.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Keefe, Bruyette & Woods dropped 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. 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. Finally, UBS Group dropped their price objective on shares of Hercules Capital from $20.00 to $18.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $19.92.

Hercules Capital Stock Up 0.1%

Shares of HTGC opened at $18.97 on Tuesday. The firm has a market cap of $3.33 billion, a P/E ratio of 14.26 and a beta of 0.93. Hercules Capital, Inc. has a 12-month low of $15.65 and a 12-month high of $22.04. The company's 50-day moving average price is $17.92 and its 200 day moving average price is $18.92. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.99.

Hercules Capital (NYSE:HTGC - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The financial services provider reported $0.45 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.01). The firm had revenue of $102.10 million for the quarter, compared to analysts' expectations of $125.43 million. Hercules Capital had a return on equity of 16.84% and a net margin of 45.23%. The company's quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.50 earnings per share. On average, sell-side analysts forecast that Hercules Capital, Inc. will post 1.96 earnings per share for the current year.

Hercules Capital Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Tuesday, May 13th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 8.44%. The ex-dividend date of this dividend was Tuesday, May 13th. Hercules Capital's payout ratio is currently 120.30%.

Hercules Capital Company 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.

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