Advisors Capital Management LLC Has $13.79 Million Holdings in Hercules Capital, Inc. $HTGC

Advisors Capital Management LLC cut its position in shares of Hercules Capital, Inc. (NYSE:HTGC) by 25.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 754,521 shares of the financial services provider’s stock after selling 258,661 shares during the quarter. Advisors Capital Management LLC owned 0.42% of Hercules Capital worth $13,793,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of HTGC. Royal Bank of Canada boosted its position in Hercules Capital by 2.0% in the first quarter. Royal Bank of Canada now owns 804,077 shares of the financial services provider’s stock worth $15,446,000 after purchasing an additional 15,724 shares during the last quarter. Founders Financial Alliance LLC purchased a new position in shares of Hercules Capital in the 1st quarter worth about $279,000. Trexquant Investment LP grew its position in Hercules Capital by 15.3% during the first quarter. Trexquant Investment LP now owns 123,706 shares of the financial services provider’s stock valued at $2,376,000 after buying an additional 16,374 shares during the period. Bank of New York Mellon Corp increased its holdings in Hercules Capital by 35.0% during the first quarter. Bank of New York Mellon Corp now owns 111,212 shares of the financial services provider’s stock worth $2,136,000 after buying an additional 28,832 shares during the last quarter. Finally, Foundations Investment Advisors LLC raised its position in Hercules Capital by 185.4% in the first quarter. Foundations Investment Advisors LLC now owns 35,717 shares of the financial services provider’s stock worth $686,000 after acquiring an additional 23,202 shares during the period. Institutional investors own 19.69% of the company’s stock.

Insiders Place Their Bets

In other news, Director Gayle A. Crowell acquired 6,000 shares of the stock in a transaction on Monday, November 3rd. The stock was acquired at an average price of $17.77 per share, with a total value of $106,620.00. Following the completion of the transaction, the director owned 78,727 shares of the company’s stock, valued at $1,398,978.79. This represents a 8.25% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have issued reports on HTGC shares. JMP Securities raised their target price on Hercules Capital from $22.00 to $24.00 and gave the stock a “market outperform” rating in a research report on Monday, August 4th. Citigroup reissued an “outperform” rating on shares of Hercules Capital in a report on Monday, August 4th. Piper Sandler dropped their price objective on shares of Hercules Capital from $21.00 to $20.50 and set an “overweight” rating on the stock in a report on Thursday, October 9th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Hercules Capital in a research report on Friday, October 31st. Finally, Wall Street Zen raised shares of Hercules Capital from a “hold” rating to a “buy” rating in a research report on Saturday. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.42.

Hercules Capital Stock Performance

NYSE HTGC opened at $17.55 on Friday. The company has a 50-day simple moving average of $18.24 and a two-hundred day simple moving average of $18.41. Hercules Capital, Inc. has a 12-month low of $15.65 and a 12-month high of $22.04. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 11.62 and a beta of 0.95. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.96.

Hercules Capital (NYSE:HTGC) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The company had revenue of $138.09 million during the quarter, compared to analyst estimates of $136.95 million. Hercules Capital had a net margin of 51.46% and a return on equity of 16.54%. During the same period in the prior year, the business posted $0.51 EPS. On average, equities analysts forecast that Hercules Capital, Inc. will post 1.96 EPS for the current year.

Hercules Capital Cuts Dividend

The company 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 is Wednesday, November 12th. This represents a $1.60 annualized dividend and a dividend yield of 9.1%. Hercules Capital’s payout ratio is currently 93.02%.

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.