Hercules Capital, Inc. (NYSE:HTGC) Position Boosted by Sound Income Strategies LLC

Sound Income Strategies LLC grew its holdings in Hercules Capital, Inc. (NYSE:HTGC) by 2.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,654,119 shares of the financial services provider’s stock after acquiring an additional 73,747 shares during the period. Hercules Capital comprises approximately 3.7% of Sound Income Strategies LLC’s holdings, making the stock its biggest holding. Sound Income Strategies LLC owned about 1.68% of Hercules Capital worth $48,968,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of HTGC. NBC Securities Inc. lifted its holdings in Hercules Capital by 154.8% during the 1st quarter. NBC Securities Inc. now owns 2,624 shares of the financial services provider’s stock worth $48,000 after buying an additional 1,594 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of Hercules Capital during the fourth quarter worth $53,000. Signaturefd LLC lifted its position in shares of Hercules Capital by 30.4% in the 4th quarter. Signaturefd LLC now owns 3,382 shares of the financial services provider’s stock worth $56,000 after buying an additional 789 shares during the last quarter. Cape Investment Advisory Inc. bought a new stake in shares of Hercules Capital during the 4th quarter valued at about $56,000. Finally, Orion Capital Management LLC acquired a new stake in Hercules Capital during the third quarter worth about $66,000. 19.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HTGC has been the subject of a number of recent research reports. JMP Securities upped their price objective on Hercules Capital from $19.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Friday, May 3rd. Keefe, Bruyette & Woods increased their price objective on shares of Hercules Capital from $18.00 to $19.00 and gave the stock a “market perform” rating in a report on Friday, May 3rd. Piper Sandler boosted their target price on shares of Hercules Capital from $21.00 to $21.50 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Finally, Wells Fargo & Company raised their price target on shares of Hercules Capital from $19.50 to $20.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $18.56.

Hercules Capital Price Performance

HTGC stock traded up $0.11 during trading hours on Wednesday, hitting $20.15. 675,536 shares of the stock traded hands, compared to its average volume of 899,780. The company has a current ratio of 2.47, a quick ratio of 2.47 and a debt-to-equity ratio of 0.93. The stock has a 50-day simple moving average of $19.42 and a 200 day simple moving average of $18.22. Hercules Capital, Inc. has a one year low of $14.11 and a one year high of $20.28. The company has a market cap of $3.27 billion, a P/E ratio of 9.15 and a beta of 1.36.

Hercules Capital (NYSE:HTGC) last announced its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. Hercules Capital had a net margin of 69.98% and a return on equity of 18.35%. The company had revenue of $121.55 million for the quarter, compared to analysts’ expectations of $121.86 million. During the same quarter in the previous year, the company posted $0.47 EPS. The business’s revenue was up 15.7% compared to the same quarter last year. Equities analysts forecast that Hercules Capital, Inc. will post 2.06 earnings per share for the current year.

Hercules Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 21st. Stockholders of record on Tuesday, May 14th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 9.53%. The ex-dividend date was Monday, May 13th. Hercules Capital’s dividend payout ratio is presently 72.73%.

Insider Buying and Selling

In other news, Director Robert P. Badavas sold 1,700 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $19.60, for a total transaction of $33,320.00. Following the completion of the sale, the director now directly owns 4,234 shares of the company’s stock, valued at $82,986.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Robert P. Badavas sold 13,300 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $19.69, for a total value of $261,877.00. Following the completion of the sale, the director now directly owns 4,234 shares of the company’s stock, valued at approximately $83,367.46. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert P. Badavas sold 1,700 shares of Hercules Capital stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $19.60, for a total value of $33,320.00. Following the transaction, the director now directly owns 4,234 shares in the company, valued at approximately $82,986.40. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

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.