Insider Selling: Hercules Capital, Inc. (NYSE:HTGC) CEO Sells 100,000 Shares of Stock

Hercules Capital, Inc. (NYSE:HTGC) CEO Scott Bluestein sold 100,000 shares of Hercules Capital stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $19.59, for a total value of $1,959,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,161,207 shares in the company, valued at approximately $42,338,045.13. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Hercules Capital Trading Up 0.9 %

HTGC traded up $0.18 during trading hours on Friday, reaching $19.75. 461,765 shares of the company’s stock traded hands, compared to its average volume of 945,454. The firm has a 50-day moving average price of $19.30 and a 200 day moving average price of $19.36. Hercules Capital, Inc. has a 52-week low of $15.02 and a 52-week high of $21.78. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $3.20 billion, a PE ratio of 8.98 and a beta of 1.39.

Hercules Capital (NYSE:HTGC) last issued its earnings results on Thursday, August 1st. The financial services provider reported $0.51 earnings per share for the quarter, hitting the consensus estimate of $0.51. Hercules Capital had a return on equity of 18.03% and a net margin of 57.82%. The business had revenue of $125.01 million during the quarter, compared to analysts’ expectations of $124.99 million. During the same period in the prior year, the business earned $0.53 EPS. As a group, sell-side analysts predict that Hercules Capital, Inc. will post 2.03 EPS for the current fiscal year.

Hercules Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Tuesday, August 13th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 9.72%. The ex-dividend date was Tuesday, August 13th. Hercules Capital’s payout ratio is 72.73%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. HHM Wealth Advisors LLC acquired a new position in Hercules Capital during the 2nd quarter valued at about $31,000. NBC Securities Inc. increased its position in Hercules Capital by 154.8% during the 1st quarter. NBC Securities Inc. now owns 2,624 shares of the financial services provider’s stock valued at $48,000 after buying an additional 1,594 shares in the last quarter. Hexagon Capital Partners LLC increased its position in Hercules Capital by 28.9% during the 1st quarter. Hexagon Capital Partners LLC now owns 3,599 shares of the financial services provider’s stock valued at $66,000 after buying an additional 806 shares in the last quarter. Security National Bank acquired a new position in Hercules Capital during the 4th quarter valued at about $67,000. Finally, C M Bidwell & Associates Ltd. increased its position in Hercules Capital by 54.6% during the 4th quarter. C M Bidwell & Associates Ltd. now owns 4,220 shares of the financial services provider’s stock valued at $70,000 after buying an additional 1,490 shares in the last quarter. 19.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

HTGC has been the subject of a number of recent research reports. Piper Sandler lifted their target price on Hercules Capital from $22.00 to $22.50 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Wells Fargo & Company lifted their target price on Hercules Capital from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, JMP Securities lifted their target price on Hercules Capital from $20.00 to $22.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 30th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $20.00.

About Hercules Capital

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.