Eventide Asset Management LLC reduced its position in Hercules Capital, Inc. (NYSE:HTGC) by 5.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,000 shares of the financial services provider’s stock after selling 6,000 shares during the period. Eventide Asset Management LLC owned approximately 0.12% of Hercules Capital worth $1,513,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the company. Muzinich & Co. Inc. boosted its stake in shares of Hercules Capital by 85.3% in the first quarter. Muzinich & Co. Inc. now owns 3,626,672 shares of the financial services provider’s stock worth $54,872,000 after buying an additional 1,669,396 shares during the last quarter. Granite Investment Partners LLC bought a new position in Hercules Capital during the first quarter valued at $9,428,000. UBS Group AG boosted its position in Hercules Capital by 26.7% in the first quarter. UBS Group AG now owns 2,303,026 shares of the financial services provider’s stock valued at $34,845,000 after buying an additional 485,745 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its position in Hercules Capital by 77.8% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 542,251 shares of the financial services provider’s stock valued at $8,204,000 after buying an additional 237,203 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Hercules Capital by 13.0% in the first quarter. Principal Financial Group Inc. now owns 1,421,999 shares of the financial services provider’s stock valued at $21,515,000 after buying an additional 163,780 shares in the last quarter. 44.06% of the stock is owned by hedge funds and other institutional investors.
Shares of Hercules Capital, Inc. (HTGC) traded down 0.75% during mid-day trading on Tuesday, reaching $13.20. 314,846 shares of the company’s stock traded hands. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 21.36 and a beta of 0.85. Hercules Capital, Inc. has a 12-month low of $11.85 and a 12-month high of $15.68. The firm’s 50 day moving average price is $13.32 and its 200-day moving average price is $14.26.
Hercules Capital (NYSE:HTGC) last announced its quarterly earnings results on Thursday, May 4th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by $0.01. The company had revenue of $46.37 million for the quarter, compared to analysts’ expectations of $48.33 million. Hercules Capital had a net margin of 26.75% and a return on equity of 13.10%. During the same period in the previous year, the business earned $0.32 EPS. Equities research analysts forecast that Hercules Capital, Inc. will post $1.25 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, May 22nd. Stockholders of record on Monday, May 15th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 9.39%. The ex-dividend date was Thursday, May 11th. Hercules Capital’s payout ratio is presently 190.77%.
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A number of brokerages have issued reports on HTGC. Zacks Investment Research lowered shares of Hercules Capital from a “hold” rating to a “sell” rating in a research report on Friday, May 5th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Hercules Capital in a research report on Thursday, April 6th. Raymond James Financial, Inc. lowered shares of Hercules Capital from an “outperform” rating to a “market perform” rating in a research report on Friday, February 24th. They noted that the move was a valuation call. ValuEngine lowered shares of Hercules Capital from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, FBR & Co raised their target price on shares of Hercules Capital from $15.00 to $16.00 and gave the company an “outperform” rating in a research report on Friday, February 24th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $14.71.
About Hercules Capital
Hercules Capital, Inc is a specialty finance company. The Company is an internally managed, non-diversified, closed-end investment company. The Company focuses on providing senior secured venture growth loans to venture capital-backed companies in a range of technology, life sciences, and sustainable and renewable technology industries.
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