Insider Selling: Hercules Technology Growth Capital Director Parag Shah Sells 33,000 Shares (HTGC)
Hercules Technology Growth Capital (NYSE:HTGC) Director Parag Shah unloaded 33,000 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $15.75, for a total transaction of $519,750.00. Following the sale, the director now directly owns 358,164 shares in the company, valued at approximately $5,641,083. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Hercules Technology Growth Capital (NYSE:HTGC) traded down 1.01% during mid-day trading on Thursday, hitting $15.61. 330,251 shares of the company’s stock traded hands. Hercules Technology Growth Capital has a one year low of $12.95 and a one year high of $17.25. The stock has a 50-day moving average of $16.40 and a 200-day moving average of $15.33. The company has a market cap of $987.4 million and a P/E ratio of 10.33.
Hercules Technology Growth Capital (NYSE:HTGC) last announced its earnings results on Thursday, August 7th. The company reported $0.30 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.30. The company had revenue of $34.00 million for the quarter, compared to the consensus estimate of $34.92 million. During the same quarter in the prior year, the company posted $0.29 earnings per share. The company’s quarterly revenue was down 1.5% on a year-over-year basis. Analysts expect that Hercules Technology Growth Capital will post $1.21 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, August 25th. Investors of record on Monday, August 18th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 7.86%. The ex-dividend date is Thursday, August 14th.
HTGC has been the subject of a number of recent research reports. Analysts at Wunderlich cut their price target on shares of Hercules Technology Growth Capital from $18.00 to $16.00 in a research note on Monday. They now have a “buy” rating on the stock. Separately, analysts at Sandler O’Neill downgraded shares of Hercules Technology Growth Capital from a “buy” rating to a “hold” rating in a research note on Friday, August 8th. Finally, analysts at Wells Fargo & Co. upgraded shares of Hercules Technology Growth Capital from a “market perform” rating to an “outperform” rating in a research note on Tuesday, June 24th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Hercules Technology Growth Capital presently has an average rating of “Buy” and a consensus price target of $16.80.
Hercules Technology Growth Capital, Inc (NYSE:HTGC) is an internally managed, non-diversified closed-end investment company.
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