Sound Income Strategies LLC Boosts Stake in Hercules Capital Inc (HTGC)

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Sound Income Strategies LLC grew its holdings in shares of Hercules Capital Inc (NYSE:HTGC) by 4.7% in the 4th quarter, HoldingsChannel reports. The firm owned 1,169,385 shares of the financial services provider’s stock after purchasing an additional 52,021 shares during the period. Hercules Capital comprises approximately 6.7% of Sound Income Strategies LLC’s portfolio, making the stock its 7th biggest holding. Sound Income Strategies LLC’s holdings in Hercules Capital were worth $12,922,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of HTGC. Sei Investments Co. boosted its position in shares of Hercules Capital by 38.3% during the 2nd quarter. Sei Investments Co. now owns 47,924 shares of the financial services provider’s stock valued at $606,000 after purchasing an additional 13,279 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Hercules Capital by 284.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 118,450 shares of the financial services provider’s stock valued at $1,498,000 after purchasing an additional 87,636 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Hercules Capital by 6.5% during the 2nd quarter. Legal & General Group Plc now owns 334,511 shares of the financial services provider’s stock valued at $4,233,000 after purchasing an additional 20,558 shares in the last quarter. Laurion Capital Management LP bought a new position in shares of Hercules Capital during the 2nd quarter valued at about $247,000. Finally, Raymond James & Associates boosted its position in shares of Hercules Capital by 2.3% during the 2nd quarter. Raymond James & Associates now owns 321,896 shares of the financial services provider’s stock valued at $4,072,000 after purchasing an additional 7,198 shares in the last quarter. Institutional investors own 37.83% of the company’s stock.

Shares of HTGC traded down $0.01 during midday trading on Friday, hitting $12.13. The stock had a trading volume of 4,437 shares, compared to its average volume of 670,865. Hercules Capital Inc has a fifty-two week low of $10.57 and a fifty-two week high of $13.70. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 10.45, a PEG ratio of 9.11 and a beta of 0.86. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.86 and a quick ratio of 2.86.

Hercules Capital (NYSE:HTGC) last announced its earnings results on Thursday, November 1st. The financial services provider reported $0.31 EPS for the quarter, hitting the consensus estimate of $0.31. Hercules Capital had a net margin of 55.71% and a return on equity of 11.60%. The company had revenue of $52.60 million during the quarter, compared to analysts’ expectations of $54.37 million. During the same period last year, the company posted $0.29 earnings per share. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. Analysts anticipate that Hercules Capital Inc will post 1.21 earnings per share for the current year.

HTGC has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Hercules Capital from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a report on Wednesday, October 3rd. ValuEngine cut shares of Hercules Capital from a “hold” rating to a “sell” rating in a report on Monday, October 8th. B. Riley set a $15.00 target price on shares of Hercules Capital and gave the stock a “buy” rating in a report on Friday, November 2nd. Finally, Wells Fargo & Co decreased their target price on shares of Hercules Capital from $14.25 to $14.00 and set an “outperform” rating for the company in a report on Monday, November 5th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $14.25.

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Hercules Capital Profile

Hercules Capital, Inc is a specialty finance company, which focuses on providing senior secured loans to high-growth, innovative venture capital-backed companies in a variety of technology, life sciences, and sustainable and renewable technology industries. The company was founded by Manuel A. Henriquez in December 2003 and is headquartered in Palo Alto, CA.

Further Reading: Quiet Period

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Institutional Ownership by Quarter for Hercules Capital (NYSE:HTGC)

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