Hercules Capital, Inc. (NYSE:HTGC) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Posted by Defense World Staff on Jun 1st, 2023

Mirae Asset Global Investments Co. Ltd. cut its position in Hercules Capital, Inc. (NYSE:HTGC – Get Rating) by 28.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,380 shares of the financial services provider’s stock after selling 23,113 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Hercules Capital were worth $772,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC acquired a new stake in shares of Hercules Capital in the 4th quarter valued at about $30,000. FJ Capital Management LLC acquired a new stake in shares of Hercules Capital in the 4th quarter valued at about $587,000. HighTower Advisors LLC raised its stake in Hercules Capital by 3.6% during the 4th quarter. HighTower Advisors LLC now owns 47,043 shares of the financial services provider’s stock valued at $621,000 after acquiring an additional 1,653 shares during the last quarter. Sunbelt Securities Inc. raised its stake in Hercules Capital by 3.9% during the 4th quarter. Sunbelt Securities Inc. now owns 21,057 shares of the financial services provider’s stock valued at $278,000 after acquiring an additional 784 shares during the last quarter. Finally, Raymond James & Associates raised its stake in Hercules Capital by 12.0% during the 4th quarter. Raymond James & Associates now owns 238,104 shares of the financial services provider’s stock valued at $3,148,000 after acquiring an additional 25,445 shares during the last quarter. 23.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on HTGC shares. Piper Sandler raised Hercules Capital from a “neutral” rating to an “overweight” rating and set a $16.00 price objective for the company in a research note on Thursday, April 6th. Keefe, Bruyette & Woods downgraded Hercules Capital from a “market perform” rating to an “underperform” rating and reduced their price objective for the company from $14.50 to $10.50 in a research note on Monday, March 13th. JMP Securities reduced their price objective on Hercules Capital from $18.00 to $15.00 in a research note on Monday, May 8th. StockNews.com started coverage on Hercules Capital in a research note on Thursday, May 18th. They set a “hold” rating for the company. Finally, Royal Bank of Canada upped their price objective on Hercules Capital from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Friday, February 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Hercules Capital currently has a consensus rating of “Hold” and an average target price of $14.71.

Hercules Capital Stock Performance

Shares of HTGC stock opened at $14.46 on Thursday. The company has a market cap of $2.06 billion, a price-to-earnings ratio of 9.84 and a beta of 1.41. The stock has a 50 day simple moving average of $13.17 and a 200-day simple moving average of $13.70. Hercules Capital, Inc. has a 12-month low of $10.94 and a 12-month high of $16.28. The company has a current ratio of 3.31, a quick ratio of 3.31 and a debt-to-equity ratio of 1.14.

Hercules Capital Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 23rd. Investors of record on Tuesday, May 16th were paid a $0.47 dividend. This is an increase from Hercules Capital’s previous quarterly dividend of $0.39. This represents a $1.88 annualized dividend and a yield of 13.00%. The ex-dividend date was Monday, May 15th. Hercules Capital’s dividend payout ratio (DPR) is presently 106.12%.

Insider Activity at Hercules Capital

In other news, Director Gayle A. Crowell acquired 7,200 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The stock was purchased at an average cost of $13.66 per share, with a total value of $98,352.00. Following the purchase, the director now directly owns 38,845 shares of the company’s stock, valued at approximately $530,622.70. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Wade Loo bought 4,000 shares of the stock in a transaction on Friday, March 17th. The shares were purchased at an average price of $11.95 per share, for a total transaction of $47,800.00. Following the acquisition, the director now owns 8,059 shares in the company, valued at $96,305.05. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gayle A. Crowell bought 7,200 shares of the stock in a transaction on Monday, May 8th. The shares were bought at an average price of $13.66 per share, for a total transaction of $98,352.00. Following the acquisition, the director now owns 38,845 shares in the company, valued at approximately $530,622.70. The disclosure for this purchase can be found here. Insiders bought 11,655 shares of company stock valued at $152,399 in the last ninety days. Corporate insiders own 1.40% of the company’s stock.

Hercules Capital Profile

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Hercules is the largest non-bank lender to venture capital-backed companies at all stages of development in a broadly diversified variety of technology, life sciences, and sustainable and renewable technology industries. With over a decade of experience in venture debt, Hercules is uniquely positioned to quickly create innovative financing solutions that perfectly fit within a company’s existing capital structure and map to its business objectives.