BlackRock Inc. Trims Stake in Hercules Capital Inc (HTGC)

BlackRock Inc. trimmed its stake in shares of Hercules Capital Inc (NYSE:HTGC) by 19.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 375,791 shares of the financial services provider’s stock after selling 87,968 shares during the period. BlackRock Inc. owned approximately 0.39% of Hercules Capital worth $4,754,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in HTGC. Northern Trust Corp raised its stake in Hercules Capital by 12.3% in the first quarter. Northern Trust Corp now owns 46,275 shares of the financial services provider’s stock valued at $560,000 after buying an additional 5,057 shares during the last quarter. Jane Street Group LLC purchased a new stake in Hercules Capital in the first quarter valued at about $269,000. Legal & General Group Plc raised its stake in Hercules Capital by 20.5% in the first quarter. Legal & General Group Plc now owns 313,953 shares of the financial services provider’s stock valued at $3,800,000 after buying an additional 53,438 shares during the last quarter. DnB Asset Management AS purchased a new stake in Hercules Capital in the second quarter valued at about $897,000. Finally, Confluence Investment Management LLC raised its stake in Hercules Capital by 2.4% in the second quarter. Confluence Investment Management LLC now owns 825,654 shares of the financial services provider’s stock valued at $10,445,000 after buying an additional 19,024 shares during the last quarter. Institutional investors own 37.22% of the company’s stock.

Shares of HTGC stock opened at $12.41 on Friday. The company has a current ratio of 2.86, a quick ratio of 2.86 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $1.22 billion, a PE ratio of 10.70, a PEG ratio of 10.37 and a beta of 0.87. Hercules Capital Inc has a fifty-two week low of $11.55 and a fifty-two week high of $13.84.

Hercules Capital (NYSE:HTGC) last announced its quarterly earnings data on Thursday, November 1st. The financial services provider reported $0.31 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.31. The business had revenue of $52.60 million for the quarter, compared to analyst estimates of $54.37 million. Hercules Capital had a return on equity of 11.60% and a net margin of 55.71%. The company’s revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.29 earnings per share. Research analysts anticipate that Hercules Capital Inc will post 1.22 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 19th. Stockholders of record on Monday, November 12th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 9.99%. The ex-dividend date is Thursday, November 8th. Hercules Capital’s dividend payout ratio is presently 106.90%.

A number of research firms have commented on HTGC. JMP Securities increased their price target on Hercules Capital from $14.00 to $14.50 and gave the company a “market outperform” rating in a research note on Thursday, August 16th. Wedbush increased their price target on Hercules Capital from $13.75 to $15.00 and gave the company an “outperform” rating in a research note on Monday, August 6th. Compass Point set a $14.00 price target on Hercules Capital and gave the company a “buy” rating in a research note on Friday, August 3rd. ValuEngine upgraded Hercules Capital from a “sell” rating to a “hold” rating in a research note on Thursday, July 19th. Finally, Zacks Investment Research upgraded Hercules Capital from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Wednesday, October 3rd. Two investment analysts have rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. Hercules Capital presently has a consensus rating of “Buy” and an average price target of $14.50.

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About Hercules Capital

Hercules Capital, Inc, formerly known as Hercules Technology Growth Capital, Inc, is a business development company 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.

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Institutional Ownership by Quarter for Hercules Capital (NYSE:HTGC)

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