Harvest Capital Credit (HCAP) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Harvest Capital Credit (NASDAQ:HCAP) from a sell rating to a hold rating in a report issued on Tuesday morning.

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. “

Shares of Harvest Capital Credit stock opened at $11.65 on Tuesday. The company has a quick ratio of 9.73, a current ratio of 9.73 and a debt-to-equity ratio of 0.68. Harvest Capital Credit has a fifty-two week low of $9.31 and a fifty-two week high of $11.84. The firm has a market capitalization of $70.34 million, a price-to-earnings ratio of 9.10 and a beta of 0.64.

Harvest Capital Credit (NASDAQ:HCAP) last issued its quarterly earnings results on Thursday, November 8th. The investment management company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Harvest Capital Credit had a net margin of 30.83% and a return on equity of 7.86%. The company had revenue of $4.32 million during the quarter, compared to the consensus estimate of $4.47 million. On average, equities research analysts expect that Harvest Capital Credit will post 0.93 earnings per share for the current fiscal year.

The business also recently declared a monthly dividend, which was paid on Friday, December 21st. Shareholders of record on Friday, December 14th were issued a $0.095 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 9.79%. The ex-dividend date was Thursday, December 13th. Harvest Capital Credit’s dividend payout ratio (DPR) is presently 89.06%.

In other news, insider Richard Paul Buckanavage sold 4,500 shares of the firm’s stock in a transaction dated Tuesday, November 20th. The shares were sold at an average price of $11.02, for a total transaction of $49,590.00. Following the completion of the transaction, the insider now directly owns 44,772 shares of the company’s stock, valued at approximately $493,387.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph A. Jolson acquired 7,460 shares of Harvest Capital Credit stock in a transaction dated Tuesday, November 6th. The shares were acquired at an average cost of $10.50 per share, with a total value of $78,330.00. Following the completion of the acquisition, the chief executive officer now directly owns 20,000 shares in the company, valued at approximately $210,000. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 72,696 shares of company stock valued at $712,161. Insiders own 9.30% of the company’s stock.

Harvest Capital Credit Company Profile

Harvest Capital Credit Corporation is a business development company providing structured credit to small businesses and specializing in leveraged buyouts, add-on acquisitions, recapitalizations, growth financings and debt refinancing investments. It prefers to invest in North America-based companies.

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