Harvest Capital Credit Corporation (HCAP) Downgraded by Zacks Investment Research
Zacks Investment Research lowered shares of Harvest Capital Credit Corporation (NASDAQ:HCAP) from a hold rating to a sell rating in a research report report published on Thursday.
According to Zacks, “Harvest Capital Credit Corporation is a closed-end management investment company. The company invest in the form of subordinated debt, senior debt and minority equity. Harvest Capital Credit Corporation is headquartered in New York, United Sates. “
Separately, Keefe, Bruyette & Woods reiterated a hold rating and issued a $13.50 price target on shares of Harvest Capital Credit Corporation in a research note on Friday, August 11th.
Harvest Capital Credit Corporation (NASDAQ HCAP) opened at $12.19 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 5.65 and a current ratio of 1.43. Harvest Capital Credit Corporation has a one year low of $11.70 and a one year high of $14.88. The firm has a market cap of $79.09, a price-to-earnings ratio of 8.18 and a beta of 0.75.
Harvest Capital Credit Corporation (NASDAQ:HCAP) last released its earnings results on Wednesday, August 9th. The investment management company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.06. Harvest Capital Credit Corporation had a net margin of 14.76% and a return on equity of 11.04%. The company had revenue of $5.08 million for the quarter, compared to analysts’ expectations of $5.14 million. research analysts expect that Harvest Capital Credit Corporation will post 1.39 earnings per share for the current year.
The business also recently declared a monthly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 22nd will be paid a $0.1125 dividend. This represents a $1.35 annualized dividend and a yield of 11.07%. The ex-dividend date of this dividend is Thursday, December 21st. Harvest Capital Credit Corporation’s payout ratio is currently 287.24%.
In other news, insider Richard Paul Buckanavage sold 3,000 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $13.65, for a total value of $40,950.00. Following the sale, the insider now directly owns 57,172 shares in the company, valued at approximately $780,397.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 9.50% of the company’s stock.
A number of large investors have recently modified their holdings of HCAP. Goldman Sachs Group Inc. grew its holdings in Harvest Capital Credit Corporation by 18.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 36,344 shares of the investment management company’s stock valued at $480,000 after purchasing an additional 5,772 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Harvest Capital Credit Corporation by 3.8% in the 2nd quarter. Janney Montgomery Scott LLC now owns 75,974 shares of the investment management company’s stock worth $996,000 after purchasing an additional 2,753 shares during the period. Finally, Macquarie Group Ltd. purchased a new stake in shares of Harvest Capital Credit Corporation in the 3rd quarter worth approximately $503,000. Institutional investors own 5.53% of the company’s stock.
About Harvest Capital Credit Corporation
Harvest Capital Credit Corporation is an externally managed, closed-end, non-diversified management investment company. The Company operates as a business development company and provides customized financing solutions for small to mid-sized companies. Its investment objective is to generate both current income and capital appreciation by making direct investments in the form of subordinated debt, senior debt, and to a lesser extent, minority equity investments in privately-held the United States small to mid-sized companies.
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