Triumph Capital Management Cuts Stock Position in Hercules Capital, Inc. (NYSE:HTGC)

Triumph Capital Management lessened its stake in shares of Hercules Capital, Inc. (NYSE:HTGC) by 6.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,469 shares of the financial services provider’s stock after selling 1,027 shares during the quarter. Triumph Capital Management’s holdings in Hercules Capital were worth $291,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Left Brain Wealth Management LLC raised its stake in shares of Hercules Capital by 32.2% during the fourth quarter. Left Brain Wealth Management LLC now owns 275,876 shares of the financial services provider’s stock worth $5,542,000 after purchasing an additional 67,215 shares during the last quarter. Tectonic Advisors LLC raised its stake in shares of Hercules Capital by 14.0% during the fourth quarter. Tectonic Advisors LLC now owns 493,808 shares of the financial services provider’s stock worth $9,921,000 after purchasing an additional 60,776 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Hercules Capital during the fourth quarter worth approximately $14,871,000. Magnetar Financial LLC purchased a new position in Hercules Capital in the fourth quarter worth $324,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Hercules Capital in the fourth quarter worth $3,281,000. Hedge funds and other institutional investors own 19.69% of the company’s stock.

Hercules Capital Stock Up 1.2%

Hercules Capital stock opened at $17.80 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.72 and a current ratio of 2.72. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 11.06 and a beta of 0.97. Hercules Capital, Inc. has a fifty-two week low of $15.65 and a fifty-two week high of $22.04. The stock’s fifty day moving average is $17.96 and its two-hundred day moving average is $19.26.

Hercules Capital (NYSE:HTGC) last posted its earnings results on Thursday, May 1st. The financial services provider reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.01). The firm 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 firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the company posted $0.50 EPS. Analysts predict that Hercules Capital, Inc. will post 1.96 EPS for the current fiscal year.

Hercules Capital Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Tuesday, May 13th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 8.99%. The ex-dividend date of this dividend is Tuesday, May 13th. Hercules Capital’s payout ratio is currently 120.30%.

Wall Street Analyst Weigh In

Several research firms have issued reports on HTGC. UBS Group cut their price objective on Hercules Capital from $20.00 to $18.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. JMP Securities reiterated a “market outperform” rating and issued a $22.00 price objective on shares of Hercules Capital in a research report on Friday, February 14th. Keefe, Bruyette & Woods cut their price objective on Hercules Capital from $21.50 to $20.50 and set an “outperform” rating for the company in a research report on Tuesday, April 8th. Piper Sandler cut their price objective on 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, Wells Fargo & Company cut their price objective on Hercules Capital from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $19.92.

Insider Activity at Hercules Capital

In related news, Director Nikos Theodosopoulos acquired 5,999 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The shares were acquired at an average price of $17.49 per share, with a total value of $104,922.51. Following the completion of the purchase, the director now directly owns 11,960 shares in the company, valued at approximately $209,180.40. The trade was a 100.64% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate 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.