Harvest Capital Credit (HCAP) Upgraded by Zacks Investment Research to Hold
Zacks Investment Research upgraded shares of Harvest Capital Credit (NASDAQ:HCAP) from a strong sell rating to a hold rating in a research note released on Wednesday.
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. “
HCAP has been the subject of several other reports. TheStreet downgraded Harvest Capital Credit from a b- rating to a c+ rating in a research note on Wednesday, November 29th. ValuEngine downgraded Harvest Capital Credit from a buy rating to a hold rating in a research note on Wednesday, November 29th.
Harvest Capital Credit (NASDAQ:HCAP) opened at $11.50 on Wednesday. Harvest Capital Credit has a 52 week low of $10.51 and a 52 week high of $14.65. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $73.77, a P/E ratio of 24.47 and a beta of 0.66.
The firm also recently declared a monthly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 22nd were paid a $0.1125 dividend. The ex-dividend date of this dividend was Thursday, December 21st. This represents a $1.35 annualized dividend and a yield of 11.74%. Harvest Capital Credit’s payout ratio is 287.23%.
In other Harvest Capital Credit news, CFO Craig R. Kitchin sold 12,456 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $12.25, for a total value of $152,586.00. Following the completion of the transaction, the chief financial officer now directly owns 8,694 shares in the company, valued at approximately $106,501.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Jmp Group Llc purchased 5,675 shares of the company’s stock in a transaction on Saturday, December 29th. The stock was acquired at an average price of $10.99 per share, with a total value of $62,368.25. The disclosure for this purchase can be found here. Insiders acquired a total of 142,566 shares of company stock valued at $1,541,218 over the last 90 days. 9.50% of the stock is currently owned by corporate insiders.
A hedge fund recently raised its stake in Harvest Capital Credit stock. Ladenburg Thalmann Financial Services Inc. grew its position in shares of Harvest Capital Credit Corp (NASDAQ:HCAP) by 21.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 35,214 shares of the investment management company’s stock after acquiring an additional 6,282 shares during the quarter. Ladenburg Thalmann Financial Services Inc. owned about 0.54% of Harvest Capital Credit worth $471,000 at the end of the most recent reporting period. 5.72% of the stock is owned by hedge funds and other institutional investors.
About Harvest Capital Credit
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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