Foundations Investment Advisors LLC Raises Stock Holdings in Hercules Capital, Inc. (NYSE:HTGC)

Foundations Investment Advisors LLC lifted its holdings in Hercules Capital, Inc. (NYSE:HTGC) by 185.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,717 shares of the financial services provider’s stock after purchasing an additional 23,202 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Hercules Capital were worth $686,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of HTGC. JPMorgan Chase & Co. increased its stake in Hercules Capital by 51.2% during the fourth quarter. JPMorgan Chase & Co. now owns 443,114 shares of the financial services provider’s stock worth $8,902,000 after acquiring an additional 150,136 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Hercules Capital by 301.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 16,388 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 12,302 shares during the period. Franklin Resources Inc. increased its position in shares of Hercules Capital by 0.5% during the 4th quarter. Franklin Resources Inc. now owns 389,280 shares of the financial services provider’s stock valued at $7,821,000 after purchasing an additional 2,055 shares during the last quarter. Trexquant Investment LP purchased a new stake in Hercules Capital during the 4th quarter valued at $2,156,000. Finally, ExodusPoint Capital Management LP bought a new stake in Hercules Capital in the fourth quarter worth $540,000. Institutional investors own 19.69% of the company’s stock.

Insider Activity

In other Hercules Capital news, Director Nikos Theodosopoulos acquired 5,999 shares of Hercules Capital stock in a transaction that occurred on Thursday, May 8th. The stock was bought 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 directly owned 11,960 shares of the company’s stock, valued at approximately $209,180.40. This represents a 100.64% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company reduced their price target on Hercules Capital from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. UBS Group increased their target price on Hercules Capital from $18.50 to $19.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. Keefe, Bruyette & Woods decreased their target price 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. Finally, Piper Sandler cut their price target on shares of Hercules Capital from $23.00 to $20.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.08.

Hercules Capital Trading Down 0.7%

HTGC opened at $18.79 on Friday. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.99. The stock’s fifty day moving average is $18.37 and its two-hundred day moving average is $18.85. The company has a market capitalization of $3.30 billion, a P/E ratio of 14.12 and a beta of 0.93. Hercules Capital, Inc. has a 52 week low of $15.65 and a 52 week high of $22.04.

Hercules Capital (NYSE:HTGC) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.50 EPS for the quarter, beating the consensus estimate of $0.47 by $0.03. The firm had revenue of $137.46 million for the quarter, compared to analyst estimates of $129.47 million. Hercules Capital had a return on equity of 16.84% and a net margin of 45.23%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.51 earnings per share. Analysts forecast that Hercules Capital, Inc. will post 1.96 earnings per share for the current year.

Hercules Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 19th. Stockholders of record on Tuesday, August 12th will be paid a dividend of $0.47 per share. This is a boost from Hercules Capital’s previous quarterly dividend of $0.40. This represents a $1.88 dividend on an annualized basis and a dividend yield of 10.0%. The ex-dividend date is Tuesday, August 12th. Hercules Capital’s payout ratio is 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.