Mckinley Capital Management LLC Delaware reduced its stake in shares of Hercules Capital Inc (NYSE:HTGC) by 2.8% in the second quarter, HoldingsChannel reports. The firm owned 328,221 shares of the financial services provider’s stock after selling 9,435 shares during the period. Mckinley Capital Management LLC Delaware’s holdings in Hercules Capital were worth $4,208,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Northern Trust Corp increased its stake in Hercules Capital by 11.0% during the 4th quarter. Northern Trust Corp now owns 207,170 shares of the financial services provider’s stock valued at $2,289,000 after purchasing an additional 20,584 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Hercules Capital by 16.7% in the 4th quarter. Bank of America Corp DE now owns 29,074 shares of the financial services provider’s stock worth $321,000 after acquiring an additional 4,169 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Hercules Capital by 542.4% in the 1st quarter. Bank of Montreal Can now owns 303,671 shares of the financial services provider’s stock worth $3,844,000 after acquiring an additional 256,401 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Hercules Capital by 25.2% in the 1st quarter. SG Americas Securities LLC now owns 19,058 shares of the financial services provider’s stock worth $241,000 after acquiring an additional 3,831 shares in the last quarter. Finally, Osborn Williams & Donohoe LLC bought a new stake in shares of Hercules Capital in the 1st quarter worth $30,000. Hedge funds and other institutional investors own 31.23% of the company’s stock.
HTGC has been the subject of several recent analyst reports. Wells Fargo & Co lowered shares of Hercules Capital from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $12.75 to $13.25 in a research note on Monday, May 6th. They noted that the move was a valuation call. B. Riley lowered shares of Hercules Capital from a “buy” rating to a “neutral” rating in a research note on Friday, May 17th. Zacks Investment Research lowered shares of Hercules Capital from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Compass Point set a $13.00 target price on shares of Hercules Capital and gave the stock a “hold” rating in a research note on Tuesday, July 2nd. Finally, TheStreet lowered shares of Hercules Capital from a “b-” rating to a “c+” rating in a research note on Monday, July 1st. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $13.38.
Shares of NYSE HTGC traded down $0.17 during trading on Friday, hitting $12.91. The stock had a trading volume of 363,564 shares, compared to its average volume of 598,326. Hercules Capital Inc has a 12 month low of $10.57 and a 12 month high of $14.17. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.31 and a quick ratio of 1.31. The company has a market capitalization of $1.36 billion, a PE ratio of 10.14 and a beta of 0.87. The firm has a fifty day moving average of $12.96 and a two-hundred day moving average of $12.97.
Hercules Capital (NYSE:HTGC) last posted its earnings results on Thursday, August 1st. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.03. Hercules Capital had a net margin of 53.97% and a return on equity of 12.25%. The firm had revenue of $69.26 million during the quarter, compared to analyst estimates of $63.07 million. During the same quarter in the prior year, the business posted $0.29 EPS. The business’s revenue was up 39.7% compared to the same quarter last year. On average, equities analysts expect that Hercules Capital Inc will post 1.34 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 12th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.28 annualized dividend and a yield of 9.91%. This is a positive change from Hercules Capital’s previous quarterly dividend of $0.31. Hercules Capital’s dividend payout ratio is presently 107.56%.
Hercules Capital Profile
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.
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