Harvest Capital Credit Corp (NASDAQ:HCAP) CEO Joseph A. Jolson purchased 46,511 shares of Harvest Capital Credit stock in a transaction dated Tuesday, June 26th. The shares were bought at an average cost of $10.45 per share, for a total transaction of $486,039.95. Following the transaction, the chief executive officer now directly owns 20,000 shares of the company’s stock, valued at approximately $209,000. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
HCAP opened at $10.50 on Thursday. The stock has a market cap of $67.09 million, a P/E ratio of 8.47 and a beta of 0.73. Harvest Capital Credit Corp has a fifty-two week low of $9.90 and a fifty-two week high of $14.09. 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 released its quarterly earnings data on Thursday, May 10th. The investment management company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.09). The business had revenue of $3.74 million for the quarter, compared to analyst estimates of $4.39 million. Harvest Capital Credit had a return on equity of 9.62% and a net margin of 7.70%. sell-side analysts predict that Harvest Capital Credit Corp will post 0.96 earnings per share for the current fiscal year.
The firm also recently disclosed a monthly dividend, which will be paid on Thursday, July 26th. Investors of record on Thursday, July 19th will be paid a dividend of $0.095 per share. The ex-dividend date is Wednesday, July 18th. This represents a $1.14 annualized dividend and a yield of 10.86%. Harvest Capital Credit’s dividend payout ratio (DPR) is 89.06%.
Several equities analysts have recently commented on HCAP shares. Keefe, Bruyette & Woods set a $12.00 price target on shares of Harvest Capital Credit and gave the stock a “hold” rating in a research report on Monday, April 2nd. ValuEngine lowered shares of Harvest Capital Credit from a “buy” rating to a “hold” rating in a research note on Tuesday, April 3rd. Finally, Zacks Investment Research upgraded shares of Harvest Capital Credit from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 11th. Two research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. The stock has an average rating of “Hold” and an average target price of $12.00.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Gables Capital Management Inc. acquired a new stake in Harvest Capital Credit during the first quarter worth about $2,338,000. Ladenburg Thalmann Financial Services Inc. raised its stake 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 worth $419,000 after acquiring an additional 9,179 shares during the period. Finally, Greenwich Investment Management Inc. acquired a new stake in Harvest Capital Credit during the first quarter worth about $431,000. Hedge funds and other institutional investors own 8.74% of the company’s stock.
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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