Advisors Capital Management LLC Buys 39,730 Shares of Hercules Capital, Inc. $HTGC

Advisors Capital Management LLC raised its position in Hercules Capital, Inc. (NYSE:HTGC) by 5.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 794,251 shares of the financial services provider’s stock after acquiring an additional 39,730 shares during the period. Advisors Capital Management LLC owned about 0.44% of Hercules Capital worth $15,019,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its position in Hercules Capital by 173.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 89,575 shares of the financial services provider’s stock worth $1,605,000 after purchasing an additional 56,797 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Hercules Capital by 308.9% in the 3rd quarter. International Assets Investment Management LLC now owns 79,555 shares of the financial services provider’s stock worth $1,493,000 after buying an additional 60,100 shares in the last quarter. Tred Avon Family Wealth LLC acquired a new position in shares of Hercules Capital in the 3rd quarter worth approximately $1,042,000. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Hercules Capital by 42.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 884,946 shares of the financial services provider’s stock worth $16,734,000 after buying an additional 263,222 shares during the period. Finally, Muzinich & Co. Inc. boosted its stake in Hercules Capital by 34.5% in the 3rd quarter. Muzinich & Co. Inc. now owns 992,820 shares of the financial services provider’s stock valued at $18,774,000 after buying an additional 254,651 shares in the last quarter. Institutional investors own 19.69% of the company’s stock.

Hercules Capital Price Performance

HTGC opened at $15.94 on Thursday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.48 and a quick ratio of 1.48. The stock has a market capitalization of $2.93 billion, a P/E ratio of 8.71 and a beta of 0.84. The company’s 50 day simple moving average is $18.14 and its 200-day simple moving average is $18.38. Hercules Capital, Inc. has a one year low of $15.40 and a one year high of $22.04.

Hercules Capital (NYSE:HTGC) last announced its quarterly earnings data on Thursday, February 12th. The financial services provider reported $0.48 EPS for the quarter, meeting analysts’ consensus estimates of $0.48. The firm had revenue of $133.25 million for the quarter, compared to analyst estimates of $141.57 million. Hercules Capital had a return on equity of 15.97% and a net margin of 63.80%.During the same period last year, the company earned $0.49 EPS. Sell-side analysts anticipate that Hercules Capital, Inc. will post 1.96 earnings per share for the current fiscal year.

Hercules Capital Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Wednesday, February 25th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, February 25th. Hercules Capital’s payout ratio is 87.43%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on HTGC shares. Wall Street Zen lowered Hercules Capital from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Capital One Financial set a $19.75 target price on shares of Hercules Capital in a report on Monday, December 15th. Lucid Cap Mkts upgraded shares of Hercules Capital to a “strong-buy” rating in a research report on Monday, December 15th. Keefe, Bruyette & Woods reduced their price target on shares of Hercules Capital from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Friday, February 13th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hercules Capital in a report on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $19.29.

About Hercules Capital

Hercules Capital, Inc is a specialty finance company organized as a business development company (BDC) that provides tailored debt financing solutions to high‐growth companies. Through its external management structure, Hercules Capital extends senior secured loans, subordinated debt and growth capital designed to support research and development, expansion initiatives and working capital needs. The firm primarily partners with venture capital and private equity sponsors to finance innovative enterprises across various developmental stages.

The company’s investment portfolio is concentrated in technology, life sciences and sustainable and renewable technology sectors, reflecting its focus on industries with strong growth prospects and recurring capital requirements.