Sound Income Strategies LLC Has $53.76 Million Stake in Hercules Capital, Inc. (NYSE:HTGC)

Sound Income Strategies LLC lifted its holdings in shares of Hercules Capital, Inc. (NYSE:HTGC) by 1.8% during the 3rd quarter, Holdings Channel reports. The firm owned 2,737,345 shares of the financial services provider’s stock after purchasing an additional 47,672 shares during the quarter. Hercules Capital comprises 3.5% of Sound Income Strategies LLC’s holdings, making the stock its largest position. Sound Income Strategies LLC’s holdings in Hercules Capital were worth $53,761,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Creekmur Asset Management LLC acquired a new stake in shares of Hercules Capital in the 4th quarter valued at about $105,000. Tucker Asset Management LLC raised its position in shares of Hercules Capital by 921.8% during the fourth quarter. Tucker Asset Management LLC now owns 5,763 shares of the financial services provider’s stock worth $96,000 after purchasing an additional 5,199 shares during the period. Fisher Asset Management LLC bought a new position in shares of Hercules Capital in the 4th quarter worth $198,000. PNC Financial Services Group Inc. grew its position in Hercules Capital by 1.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 296,636 shares of the financial services provider’s stock valued at $4,945,000 after purchasing an additional 5,367 shares during the period. Finally, Confluence Investment Management LLC bought a new stake in Hercules Capital during the 1st quarter valued at $6,950,000. Institutional investors and hedge funds own 19.69% of the company’s stock.

Hercules Capital Stock Down 0.6 %

NYSE:HTGC traded down $0.11 on Friday, hitting $19.63. The stock had a trading volume of 921,283 shares, compared to its average volume of 930,250. Hercules Capital, Inc. has a 1 year low of $15.02 and a 1 year high of $21.78. The firm’s fifty day simple moving average is $19.04 and its two-hundred day simple moving average is $19.48. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.42 and a current ratio of 1.42. The stock has a market cap of $3.18 billion, a P/E ratio of 8.92 and a beta of 1.39.

Hercules Capital (NYSE:HTGC) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.51. The business had revenue of $125.01 million during the quarter, compared to the consensus estimate of $124.99 million. Hercules Capital had a net margin of 57.82% and a return on equity of 18.03%. During the same quarter last year, the company posted $0.53 earnings per share. Analysts predict that Hercules Capital, Inc. will post 2.03 earnings per share for the current year.

Hercules Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Tuesday, August 13th were paid a $0.48 dividend. The ex-dividend date was Tuesday, August 13th. This represents a $1.92 dividend on an annualized basis and a yield of 9.78%. Hercules Capital’s dividend payout ratio is 72.73%.

Insider Buying and Selling at Hercules Capital

In related news, Director Nikos Theodosopoulos purchased 1,608 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average cost of $18.03 per share, for a total transaction of $28,992.24. Following the completion of the transaction, the director now directly owns 5,613 shares in the company, valued at approximately $101,202.39. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Nikos Theodosopoulos purchased 1,608 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average price of $18.03 per share, with a total value of $28,992.24. Following the completion of the acquisition, the director now owns 5,613 shares in the company, valued at $101,202.39. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Scott Bluestein sold 100,000 shares of Hercules Capital stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $19.59, for a total value of $1,959,000.00. Following the sale, the chief executive officer now directly owns 2,161,207 shares of the company’s stock, valued at $42,338,045.13. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Piper Sandler boosted their target price on shares of Hercules Capital from $22.00 to $22.50 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. JMP Securities boosted their price objective on Hercules Capital from $20.00 to $22.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 30th. Finally, Wells Fargo & Company raised their target price on Hercules Capital from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Hercules Capital has a consensus rating of “Moderate Buy” and an average price target of $20.00.

Hercules Capital Company 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.