Zacks Investment Research Downgrades Harvest Capital Credit (HCAP) to Sell

Harvest Capital Credit (NASDAQ:HCAP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

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. “

Several other brokerages also recently issued reports on HCAP. ValuEngine downgraded shares of Harvest Capital Credit from a “buy” rating to a “hold” rating in a research report on Wednesday, November 29th. TheStreet downgraded shares of Harvest Capital Credit from a “b-” rating to a “c+” rating in a research report on Wednesday, November 29th.

Shares of Harvest Capital Credit (HCAP) traded up $0.15 during trading hours on Tuesday, hitting $11.66. 27,200 shares of the stock traded hands, compared to its average volume of 29,227. Harvest Capital Credit has a 52 week low of $10.52 and a 52 week high of $14.65. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.43 and a quick ratio of 1.43. The firm has a market cap of $74.47, a P/E ratio of 24.81 and a beta of 0.66.

Harvest Capital Credit (NASDAQ:HCAP) last issued its earnings results on Tuesday, November 7th. The investment management company reported $0.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.02). Harvest Capital Credit had a net margin of 14.76% and a return on equity of 11.04%. equities research analysts predict that Harvest Capital Credit will post 1.39 earnings per share for the current fiscal year.

In other news, major shareholder Jmp Group Llc acquired 38,841 shares of the company’s stock in a transaction on Wednesday, November 29th. The stock was purchased at an average cost of $10.75 per share, with a total value of $417,540.75. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Craig R. Kitchin sold 12,456 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $12.25, for a total value of $152,586.00. Following the sale, the chief financial officer now directly owns 8,694 shares of the company’s stock, valued at $106,501.50. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 142,566 shares of company stock worth $1,541,218. 9.50% of the stock is owned by corporate insiders.

An institutional investor recently bought a new position in Harvest Capital Credit stock. Macquarie Group Ltd. acquired a new position in shares of Harvest Capital Credit Corp (NASDAQ:HCAP) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 37,629 shares of the investment management company’s stock, valued at approximately $503,000. Macquarie Group Ltd. owned about 0.59% of Harvest Capital Credit at the end of the most recent quarter. 5.72% of the stock is currently owned by institutional investors and hedge funds.

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Harvest Capital Credit Company Profile

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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