Stock Traders Buy High Volume of Put Options on Hercules Capital (NYSE:HTGC)

Hercules Capital, Inc. (NYSE:HTGC) was the target of some unusual options trading activity on Wednesday. Investors acquired 3,361 put options on the company. This is an increase of approximately 396% compared to the average daily volume of 678 put options.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Weiss Ratings raised Hercules Capital from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, September 28th. UBS Group raised Hercules Capital from a “neutral” rating to a “buy” rating and increased their target price for the stock from $15.50 to $18.50 in a research note on Tuesday, September 1st. Finally, LADENBURG THALM/SH SH reduced their price target on Hercules Capital from $21.00 to $20.00 and set a “buy” rating for the company in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.89.

Hedge Funds Weigh In On Hercules Capital

A number of institutional investors and hedge funds have recently modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC grew its position in Hercules Capital by 17.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 7,090 shares of the financial services provider’s stock valued at $105,000 after acquiring an additional 1,035 shares during the last quarter. North Star Investment Management Corp. lifted its position in shares of Hercules Capital by 2.3% during the first quarter. North Star Investment Management Corp. now owns 49,061 shares of the financial services provider’s stock worth $725,000 after purchasing an additional 1,096 shares during the last quarter. Centaurus Financial Inc. boosted its stake in shares of Hercules Capital by 1.0% during the first quarter. Centaurus Financial Inc. now owns 107,492 shares of the financial services provider’s stock valued at $1,588,000 after purchasing an additional 1,098 shares during the period. Sequoia Financial Advisors LLC grew its holdings in shares of Hercules Capital by 15.6% in the second quarter. Sequoia Financial Advisors LLC now owns 12,336 shares of the financial services provider’s stock worth $195,000 after purchasing an additional 1,669 shares during the last quarter. Finally, Burk Holdings LLC bought a new position in shares of Hercules Capital in the second quarter worth about $28,000. 19.69% of the stock is currently owned by hedge funds and other institutional investors.

Hercules Capital Stock Performance

NYSE:HTGC traded down $0.15 during mid-day trading on Wednesday, reaching $16.41. The company’s stock had a trading volume of 237,916 shares, compared to its average volume of 1,929,908. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.03. The stock has a market cap of $3.07 billion, a P/E ratio of 8.16 and a beta of 0.82. The firm’s fifty day moving average price is $17.12 and its two-hundred day moving average price is $16.07. Hercules Capital has a 12-month low of $13.70 and a 12-month high of $19.13.

Hercules Capital (NYSE:HTGC) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Hercules Capital had a net margin of 67.68% and a return on equity of 16.01%. The firm had revenue of $134.41 million during the quarter, compared to analyst estimates of $146.71 million. During the same period in the previous year, the business posted $0.50 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, equities analysts forecast that Hercules Capital will post 1.95 EPS for the current fiscal year.

Hercules Capital Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 18th. Shareholders of record on Tuesday, August 11th were given a $0.40 dividend. This is a boost from Hercules Capital’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $1.60 dividend on an annualized basis and a yield of 9.7%. Hercules Capital’s payout ratio is presently 79.60%.

Hercules Capital Company Profile

Hercules Capital, Inc is a specialty finance company and business development company that provides financing to venture capital- and private equity-backed companies. Founded in 2003, the company was formerly known as Hercules Technology Growth Capital and focuses on supporting businesses in technology, life sciences, and other innovation-oriented industries.

Hercules Capital offers secured and unsecured venture debt, growth capital, equipment financing, working capital facilities, acquisition financing, and recapitalization solutions.