Elevation Point Wealth Partners LLC Takes $3.05 Million Position in Hercules Capital, Inc. $HTGC

Elevation Point Wealth Partners LLC acquired a new stake in Hercules Capital, Inc. (NYSE:HTGC) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 206,303 shares of the financial services provider’s stock, valued at approximately $3,047,000. Elevation Point Wealth Partners LLC owned approximately 0.11% of Hercules Capital as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in HTGC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Hercules Capital in the 4th quarter valued at about $27,000. Cornerstone Planning Group LLC bought a new position in shares of Hercules Capital in the 4th quarter valued at about $29,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Hercules Capital by 113.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,884 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 1,000 shares during the last quarter. Summit Securities Group LLC boosted its stake in shares of Hercules Capital by 233.3% in the 4th quarter. Summit Securities Group LLC now owns 2,000 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. bought a new position in shares of Hercules Capital in the 4th quarter valued at about $53,000. Institutional investors and hedge funds own 19.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Piper Sandler lifted their price target on shares of Hercules Capital from $16.50 to $17.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. UBS Group lifted their price target on shares of Hercules Capital from $15.00 to $15.50 and gave the company a “neutral” rating in a research note on Monday, May 18th. Citizens Jmp cut their price target on shares of Hercules Capital from $24.00 to $22.00 and set a “market outperform” rating on the stock in a research note on Wednesday, April 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hercules Capital in a research note on Wednesday, June 17th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Hercules Capital from $19.00 to $18.00 and set an “outperform” rating on the stock in a research note on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.21.

Hercules Capital Stock Up 1.9%

Shares of NYSE HTGC traded up $0.31 during midday trading on Friday, reaching $16.00. The company’s stock had a trading volume of 1,168,767 shares, compared to its average volume of 2,152,618. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 1.14. Hercules Capital, Inc. has a fifty-two week low of $13.70 and a fifty-two week high of $19.67. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of 9.04 and a beta of 0.79. The stock has a 50 day simple moving average of $15.65 and a 200-day simple moving average of $16.12.

Hercules Capital (NYSE:HTGC) last posted its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.01. The company had revenue of $134.94 million for the quarter, compared to the consensus estimate of $141.39 million. Hercules Capital had a net margin of 59.85% and a return on equity of 16.05%. The firm’s revenue was up 18.4% compared to the same quarter last year. During the same period last year, the company earned $0.45 earnings per share. Equities research analysts predict that Hercules Capital, Inc. will post 1.93 earnings per share for the current year.

Hercules Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Thursday, May 14th. Hercules Capital’s payout ratio is presently 90.40%.

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.