Accel Wealth Management Raises Stake in Hercules Capital, Inc. (NYSE:HTGC)

Accel Wealth Management raised its stake in shares of Hercules Capital, Inc. (NYSE:HTGC) by 7.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,578 shares of the financial services provider’s stock after buying an additional 1,066 shares during the quarter. Accel Wealth Management’s holdings in Hercules Capital were worth $319,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of HTGC. Simplicity Wealth LLC boosted its stake in Hercules Capital by 5.7% during the second quarter. Simplicity Wealth LLC now owns 40,171 shares of the financial services provider’s stock valued at $821,000 after buying an additional 2,150 shares during the period. DNB Asset Management AS boosted its position in shares of Hercules Capital by 17.0% during the 2nd quarter. DNB Asset Management AS now owns 135,256 shares of the financial services provider’s stock valued at $2,766,000 after acquiring an additional 19,626 shares during the last quarter. Confluence Investment Management LLC grew its holdings in shares of Hercules Capital by 0.8% during the second quarter. Confluence Investment Management LLC now owns 379,548 shares of the financial services provider’s stock worth $7,762,000 after purchasing an additional 2,875 shares in the last quarter. Cetera Advisors LLC increased its position in shares of Hercules Capital by 98.9% in the first quarter. Cetera Advisors LLC now owns 89,118 shares of the financial services provider’s stock worth $1,644,000 after purchasing an additional 44,315 shares during the last quarter. Finally, Cetera Investment Advisers raised its stake in Hercules Capital by 170.7% in the first quarter. Cetera Investment Advisers now owns 126,789 shares of the financial services provider’s stock valued at $2,339,000 after purchasing an additional 79,947 shares in the last quarter. 19.69% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Nikos Theodosopoulos bought 1,608 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was bought at an average cost of $18.03 per share, for a total transaction of $28,992.24. Following the completion of the acquisition, the director now owns 5,613 shares in the company, valued at approximately $101,202.39. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Hercules Capital news, Director Robert P. Badavas sold 13,300 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $19.69, for a total transaction of $261,877.00. Following the transaction, the director now directly owns 4,234 shares of the company’s stock, valued at approximately $83,367.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Nikos Theodosopoulos acquired 1,608 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was bought 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 directly owns 5,613 shares in the company, valued at approximately $101,202.39. The disclosure for this purchase can be found here. Insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on HTGC shares. Piper Sandler increased their price target on shares of Hercules Capital from $22.00 to $22.50 and gave the stock an “overweight” rating in a report on Friday, August 2nd. JMP Securities raised their price target on Hercules Capital from $20.00 to $22.00 and gave the company a “market outperform” rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods upped their price objective on Hercules Capital from $18.00 to $19.00 and gave the stock a “market perform” rating in a report on Friday, May 3rd. Finally, Wells Fargo & Company raised their price objective on Hercules Capital from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $20.00.

Hercules Capital Trading Up 1.1 %

Shares of HTGC traded up $0.21 during trading hours on Friday, hitting $18.65. The company had a trading volume of 1,473,892 shares, compared to its average volume of 976,414. The firm has a market cap of $3.02 billion, a P/E ratio of 8.48 and a beta of 1.39. Hercules Capital, Inc. has a 52-week low of $15.02 and a 52-week high of $21.78. The stock’s 50 day moving average price is $20.31 and its 200 day moving average price is $19.09. The company has a quick ratio of 2.47, a current ratio of 2.47 and a debt-to-equity ratio of 0.93.

Hercules Capital (NYSE:HTGC) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.51 EPS for the quarter, hitting analysts’ consensus estimates of $0.51. The business had revenue of $125.01 million for the quarter, compared to analysts’ expectations of $124.99 million. Hercules Capital had a return on equity of 18.22% and a net margin of 57.82%. During the same period in the previous year, the firm earned $0.53 EPS. On average, research analysts predict that Hercules Capital, Inc. will post 2.06 EPS for the current year.

Hercules Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Tuesday, August 13th will be given a dividend of $0.48 per share. The ex-dividend date is Tuesday, August 13th. This represents a $1.92 annualized dividend and a yield of 10.29%. Hercules Capital’s payout ratio is currently 72.73%.

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.