Harvest Capital Credit Corp (NASDAQ:HCAP) has been given a consensus broker rating score of 3.00 (Hold) from the two brokers that cover the stock, Zacks Investment Research reports. Two analysts have rated the stock with a hold rating.
Brokerages have set a 1-year consensus price target of $12.00 for the company and are predicting that the company will post $0.26 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Harvest Capital Credit an industry rank of 218 out of 255 based on the ratings given to related companies.
Several research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Harvest Capital Credit from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 11th. ValuEngine cut shares of Harvest Capital Credit from a “buy” rating to a “hold” rating in a report on Tuesday, April 3rd. Finally, Keefe, Bruyette & Woods set a $12.00 price target on shares of Harvest Capital Credit and gave the company a “hold” rating in a report on Monday, April 2nd.
Shares of Harvest Capital Credit opened at $10.58 on Friday, Marketbeat reports. Harvest Capital Credit has a 12-month low of $9.90 and a 12-month high of $14.09. The stock has a market capitalization of $67.25 million, a PE ratio of 8.26 and a beta of 0.73. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.46.
Harvest Capital Credit (NASDAQ:HCAP) last announced its earnings results on Thursday, May 10th. The investment management company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.09). The company had revenue of $3.74 million during the quarter, compared to analysts’ expectations of $4.39 million. Harvest Capital Credit had a net margin of 7.70% and a return on equity of 9.62%. analysts anticipate that Harvest Capital Credit will post 0.96 earnings per share for the current year.
The business also recently declared a monthly dividend, which will be paid on Thursday, July 26th. Investors of record on Thursday, July 19th will be issued a $0.095 dividend. This represents a $1.14 annualized dividend and a yield of 10.78%. The ex-dividend date is Wednesday, July 18th. Harvest Capital Credit’s dividend payout ratio (DPR) is currently 89.06%.
In other news, CEO Joseph A. Jolson acquired 3,600 shares of the stock in a transaction on Tuesday, May 15th. The stock was acquired at an average price of $10.06 per share, with a total value of $36,216.00. Following the completion of the transaction, the chief executive officer now owns 20,000 shares of the company’s stock, valued at approximately $201,200. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Joseph A. Jolson acquired 11,259 shares of the stock in a transaction on Thursday, May 17th. The shares were purchased at an average cost of $10.10 per share, with a total value of $113,715.90. Following the transaction, the chief executive officer now directly owns 20,000 shares of the company’s stock, valued at approximately $202,000. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 151,313 shares of company stock worth $1,552,418. 9.30% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the business. Greenwich Investment Management Inc. purchased a new position in Harvest Capital Credit during the first quarter valued at $431,000. Gables Capital Management Inc. purchased a new position in Harvest Capital Credit during the first quarter valued at $2,338,000. Finally, Ladenburg Thalmann Financial Services Inc. lifted its position in Harvest Capital Credit by 29.0% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 40,829 shares of the investment management company’s stock valued at $419,000 after buying an additional 9,179 shares during the period. 8.74% of the stock is owned by institutional investors and hedge funds.
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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