Brookstone Capital Management Cuts Holdings in Hercules Capital, Inc. $HTGC

Brookstone Capital Management lowered its stake in shares of Hercules Capital, Inc. (NYSE:HTGC) by 52.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,856 shares of the financial services provider’s stock after selling 14,095 shares during the period. Brookstone Capital Management’s holdings in Hercules Capital were worth $235,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CWM LLC boosted its position in Hercules Capital by 79.6% during the second quarter. CWM LLC now owns 1,381 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 612 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in Hercules Capital in the 1st quarter valued at about $30,000. Alpine Bank Wealth Management acquired a new position in Hercules Capital in the 2nd quarter valued at about $33,000. Bessemer Group Inc. acquired a new position in Hercules Capital in the 1st quarter valued at about $38,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Hercules Capital by 51.8% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,629 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 897 shares during the period. 19.69% of the stock is currently owned by institutional investors and hedge funds.

Hercules Capital Stock Performance

Shares of HTGC opened at $18.05 on Wednesday. The company has a 50-day moving average of $18.63 and a two-hundred day moving average of $18.38. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.96. The stock has a market cap of $3.28 billion, a P/E ratio of 11.96 and a beta of 0.96. Hercules Capital, Inc. has a 12-month low of $15.65 and a 12-month high of $22.04.

Hercules Capital (NYSE:HTGC) last posted its quarterly earnings data on Thursday, July 31st. The financial services provider reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. The business had revenue of $137.46 million during the quarter, compared to analyst estimates of $129.47 million. Hercules Capital had a net margin of 51.46% and a return on equity of 16.54%. The company’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.51 earnings per share. As a group, research analysts predict that Hercules Capital, Inc. will post 1.96 EPS for the current fiscal year.

Hercules Capital Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 19th. Investors of record on Wednesday, November 12th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.60 annualized dividend and a yield of 8.9%. Hercules Capital’s dividend payout ratio is 105.96%.

Analyst Ratings Changes

HTGC has been the subject of a number of research analyst reports. UBS Group lowered their price objective on shares of Hercules Capital from $19.00 to $18.50 and set a “neutral” rating for the company in a research report on Tuesday, October 14th. Citigroup reissued an “outperform” rating on shares of Hercules Capital in a research report on Monday, August 4th. JMP Securities increased their target price on shares of Hercules Capital from $22.00 to $24.00 and gave the company a “market outperform” rating in a research report on Monday, August 4th. Piper Sandler decreased their price target on shares of Hercules Capital from $21.00 to $20.50 and set an “overweight” rating for the company in a research note on Thursday, October 9th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Hercules Capital in a research note on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.42.

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.