Hennion & Walsh Asset Management Inc. Sells 33,817 Shares of Hercules Capital, Inc. (NYSE:HTGC)

Hennion & Walsh Asset Management Inc. cut its stake in shares of Hercules Capital, Inc. (NYSE:HTGC) by 19.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 137,302 shares of the financial services provider’s stock after selling 33,817 shares during the quarter. Hennion & Walsh Asset Management Inc. owned 0.08% of Hercules Capital worth $2,533,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in HTGC. Sound Income Strategies LLC boosted its position in Hercules Capital by 2.9% during the 1st quarter. Sound Income Strategies LLC now owns 2,654,119 shares of the financial services provider’s stock worth $48,968,000 after buying an additional 73,747 shares during the period. Van ECK Associates Corp boosted its position in Hercules Capital by 18.8% during the 4th quarter. Van ECK Associates Corp now owns 2,414,747 shares of the financial services provider’s stock worth $40,254,000 after buying an additional 381,318 shares during the period. International Assets Investment Management LLC boosted its position in Hercules Capital by 1,567.0% during the 4th quarter. International Assets Investment Management LLC now owns 1,345,736 shares of the financial services provider’s stock worth $22,433,000 after buying an additional 1,265,008 shares during the period. Advisors Capital Management LLC boosted its position in Hercules Capital by 2.4% during the 3rd quarter. Advisors Capital Management LLC now owns 1,006,309 shares of the financial services provider’s stock worth $16,524,000 after buying an additional 23,157 shares during the period. Finally, Melia Wealth LLC boosted its position in Hercules Capital by 5.5% during the 1st quarter. Melia Wealth LLC now owns 691,540 shares of the financial services provider’s stock worth $12,759,000 after buying an additional 36,325 shares during the period. 19.69% of the stock is owned by institutional investors.

Insider Transactions at Hercules Capital

In other news, Director Robert P. Badavas sold 13,300 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $19.69, for a total value of $261,877.00. Following the sale, the director now directly owns 4,234 shares of the company’s stock, valued at $83,367.46. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Robert P. Badavas sold 13,300 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $19.69, for a total value of $261,877.00. Following the transaction, the director now directly owns 4,234 shares in the company, valued at $83,367.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert P. Badavas sold 1,700 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $19.60, for a total transaction of $33,320.00. Following the completion of the transaction, the director now owns 4,234 shares in the company, valued at $82,986.40. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

Hercules Capital Stock Performance

Shares of NYSE:HTGC traded up $0.17 during midday trading on Friday, reaching $20.45. The company had a trading volume of 851,501 shares, compared to its average volume of 696,821. The company’s 50 day moving average price is $19.54 and its 200 day moving average price is $18.28. The company has a current ratio of 2.47, a quick ratio of 2.47 and a debt-to-equity ratio of 0.93. The stock has a market cap of $3.32 billion, a P/E ratio of 9.30 and a beta of 1.36. Hercules Capital, Inc. has a 52-week low of $14.52 and a 52-week high of $20.57.

Hercules Capital (NYSE:HTGC) last released its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. The business had revenue of $121.55 million for the quarter, compared to the consensus estimate of $121.86 million. Hercules Capital had a net margin of 69.98% and a return on equity of 18.35%. The company’s revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 earnings per share. As a group, sell-side analysts anticipate that Hercules Capital, Inc. will post 2.06 EPS for the current fiscal year.

Hercules Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 21st. Stockholders of record on Tuesday, May 14th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.39%. The ex-dividend date of this dividend was Monday, May 13th. Hercules Capital’s payout ratio is 72.73%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on HTGC shares. Keefe, Bruyette & Woods boosted their price target on shares of Hercules Capital from $18.00 to $19.00 and gave the stock a “market perform” rating in a research report on Friday, May 3rd. Piper Sandler boosted their price target on shares of Hercules Capital from $21.00 to $21.50 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. JMP Securities boosted their price target on shares of Hercules Capital from $19.00 to $20.00 and gave the stock a “market outperform” rating in a research report on Friday, May 3rd. Finally, Wells Fargo & Company boosted their price target on shares of Hercules Capital from $19.50 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $18.56.

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.