Rep. Virginia Foxx Buys Hercules Capital, Inc. (NYSE:HTGC) Shares

Representative Virginia Foxx (R-North Carolina) recently bought shares of Hercules Capital, Inc. (NYSE:HTGC). In a filing disclosed on November 12th, the Representative disclosed that they had bought between $15,001 and $50,000 in Hercules Capital stock on October 23rd.

Representative Virginia Foxx also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Ellington Financial (NYSE:EFC) on 9/30/2024.
• Purchased $1,001 – $15,000 in shares of Hercules Capital (NYSE:HTGC) on 8/20/2024.
• Purchased $1,001 – $15,000 in shares of Energy Transfer (NYSE:ET) on 8/19/2024.
• Purchased $1,001 – $15,000 in shares of Alliance Resource Partners (NASDAQ:ARLP) on 8/14/2024.

Hercules Capital Trading Down 0.8 %

NYSE:HTGC opened at $19.05 on Friday. The stock has a 50-day simple moving average of $19.63 and a 200-day simple moving average of $19.70. The stock has a market cap of $3.09 billion, a P/E ratio of 9.43 and a beta of 1.39. Hercules Capital, Inc. has a 1 year low of $15.14 and a 1 year high of $21.78. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.61 and a current ratio of 1.61.

Hercules Capital (NYSE:HTGC) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. Hercules Capital had a net margin of 65.07% and a return on equity of 17.88%. The business had revenue of $125.25 million during the quarter, compared to analysts’ expectations of $125.80 million. During the same quarter in the prior year, the business posted $0.52 EPS. As a group, analysts anticipate that Hercules Capital, Inc. will post 2.02 earnings per share for the current fiscal year.

Hercules Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 10.08%. The ex-dividend date is Wednesday, November 13th. Hercules Capital’s dividend payout ratio is presently 79.21%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HTGC. Wells Fargo & Company upped their price target on Hercules Capital from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. JMP Securities lifted their target price on shares of Hercules Capital from $20.00 to $22.00 and gave the company a “market outperform” rating in a report on Tuesday, July 30th. Finally, 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. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.83.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HTGC. Captrust Financial Advisors increased its stake in shares of Hercules Capital by 3.7% during the 3rd quarter. Captrust Financial Advisors now owns 21,215 shares of the financial services provider’s stock worth $417,000 after purchasing an additional 763 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of Hercules Capital by 2.4% in the third quarter. Rockefeller Capital Management L.P. now owns 137,868 shares of the financial services provider’s stock worth $2,708,000 after acquiring an additional 3,239 shares during the last quarter. CreativeOne Wealth LLC acquired a new stake in shares of Hercules Capital during the third quarter valued at $274,000. BNP Paribas Financial Markets lifted its holdings in Hercules Capital by 511.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 53,068 shares of the financial services provider’s stock valued at $1,042,000 after purchasing an additional 44,386 shares in the last quarter. Finally, D.A. Davidson & CO. grew its holdings in shares of Hercules Capital by 7.1% during the third quarter. D.A. Davidson & CO. now owns 283,850 shares of the financial services provider’s stock worth $5,575,000 after buying an additional 18,823 shares in the last quarter. Hedge funds and other institutional investors own 19.69% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Scott Bluestein sold 100,000 shares of the firm’s stock in a transaction that occurred 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 approximately $42,338,045.13. This trade represents a 4.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.90% of the company’s stock.

About Representative Foxx

Virginia Foxx (Republican Party) is a member of the U.S. House, representing North Carolina’s 5th Congressional District. She assumed office on January 3, 2005. Her current term ends on January 3, 2025. Foxx (Republican Party) is running for re-election to the U.S. House to represent North Carolina’s 5th Congressional District. She declared candidacy for the 2024 election. Prior to her election to the U.S. House, Foxx served as a member of the North Carolina State Senate as well as deputy secretary for management for North Carolina. Foxx was born in New York, New York. She earned a B.A. and M.A.C.T. from the University of North Carolina, Chapel Hill, in 1968 and 1972, respectively, and an Ed.D. from the University of North Carolina, Greensboro, in 1985. Foxx worked as an instructor at Caldwell Community College in Hudson, NC, and an instructor and assistant dean at Appalachian State University in Boone, NC. She owned a landscape nursery and served as Deputy Secretary for Management at the North Carolina Department of Administration.

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.