Harvest Capital Credit (NASDAQ:HCAP) Upgraded by Zacks Investment Research to Hold

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

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. “

NASDAQ HCAP traded up $0.01 during mid-day trading on Tuesday, reaching $9.08. 350 shares of the company’s stock traded hands, compared to its average volume of 18,736. Harvest Capital Credit has a 1-year low of $8.77 and a 1-year high of $11.65. The company has a fifty day simple moving average of $9.57 and a 200-day simple moving average of $10.05. The company has a current ratio of 10.90, a quick ratio of 10.90 and a debt-to-equity ratio of 0.94. The company has a market cap of $55.83 million, a price-to-earnings ratio of 9.76 and a beta of 0.67.

Harvest Capital Credit (NASDAQ:HCAP) last issued its quarterly earnings data on Friday, November 8th. The investment management company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). Harvest Capital Credit had a net margin of 4.87% and a return on equity of 5.76%. The business had revenue of $3.28 million for the quarter, compared to analyst estimates of $3.51 million. Equities research analysts forecast that Harvest Capital Credit will post 0.63 earnings per share for the current fiscal year.

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.96 dividend on an annualized basis and a yield of 10.57%. Harvest Capital Credit’s dividend payout ratio (DPR) is presently 103.23%.

In other Harvest Capital Credit news, CEO Joseph A. Jolson acquired 15,000 shares of the stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $9.77 per share, for a total transaction of $146,550.00. Following the purchase, the chief executive officer now directly owns 20,000 shares in the company, valued at $195,400. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph A. Jolson acquired 6,078 shares of the stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average price of $9.85 per share, with a total value of $59,868.30. Following the purchase, the chief executive officer now owns 20,000 shares in the company, valued at $197,000. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 46,593 shares of company stock valued at $448,388. 13.40% of the stock is owned by insiders.

A hedge fund recently raised its stake in Harvest Capital Credit stock. Ladenburg Thalmann Financial Services Inc. lifted its position in Harvest Capital Credit Corp (NASDAQ:HCAP) by 2.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,914 shares of the investment management company’s stock after acquiring an additional 1,028 shares during the quarter. Ladenburg Thalmann Financial Services Inc. owned 0.77% of Harvest Capital Credit worth $495,000 as of its most recent SEC filing. 8.29% of the stock is currently owned by institutional investors and hedge funds.

About Harvest Capital Credit

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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