Zacks Investment Research Upgrades Harvest Capital Credit (HCAP) to “Buy”

Zacks Investment Research upgraded shares of Harvest Capital Credit (NASDAQ:HCAP) from a hold rating to a buy rating in a research note issued to investors on Friday. The brokerage currently has $12.00 price target on the investment management company’s stock.

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 NASDAQ:HCAP opened at $11.16 on Friday. The company has a current ratio of 9.73, a quick ratio of 9.73 and a debt-to-equity ratio of 0.68. Harvest Capital Credit has a twelve month low of $9.31 and a twelve month high of $11.65. The company has a market cap of $71.54 million, a PE ratio of 8.72 and a beta of 0.73.



In other news, CEO Joseph A. Jolson bought 19,658 shares of the stock in a transaction dated Thursday, December 27th. The shares were bought at an average cost of $9.63 per share, with a total value of $189,306.54. Following the completion of the transaction, the chief executive officer now directly owns 20,000 shares of the company’s stock, valued at $192,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joseph A. Jolson bought 18,919 shares of the stock in a transaction dated Friday, December 21st. The shares were purchased at an average cost of $9.52 per share, for a total transaction of $180,108.88. Following the completion of the transaction, the chief executive officer now directly owns 20,000 shares of the company’s stock, valued at $190,400. The disclosure for this purchase can be found here. Insiders have bought 58,544 shares of company stock worth $563,565 over the last ninety days. 9.30% of the stock is owned by insiders.

An institutional investor recently raised its position in Harvest Capital Credit stock. Acadian Asset Management LLC lifted its position in shares of Harvest Capital Credit Corp (NASDAQ:HCAP) by 201.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,361 shares of the investment management company’s stock after purchasing an additional 14,936 shares during the quarter. Acadian Asset Management LLC owned 0.35% of Harvest Capital Credit worth $225,000 at the end of the most recent reporting period. Institutional investors own 8.97% 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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