Zacks: Harvest Capital Credit Corporation (HCAP) Given $15.00 Consensus Price Target by Brokerages
Shares of Harvest Capital Credit Corporation (NASDAQ:HCAP) have been assigned an average broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and one has assigned a strong buy rating to the company.
Brokerages have set a 12 month consensus price target of $15.00 for the company and are anticipating that the company will post $0.30 EPS for the current quarter, according to Zacks. Zacks has also assigned Harvest Capital Credit Corporation an industry rank of 43 out of 265 based on the ratings given to related companies.
HCAP has been the topic of several analyst reports. Zacks Investment Research raised Harvest Capital Credit Corporation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $13.50 target price on shares of Harvest Capital Credit Corporation in a research report on Friday, August 11th.
The business also recently announced a monthly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 22nd will be given a dividend of $0.1125 per share. This represents a $1.35 annualized dividend and a dividend yield of 10.91%. The ex-dividend date is Thursday, December 21st. Harvest Capital Credit Corporation’s dividend payout ratio is currently 287.24%.
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In related news, insider Richard Paul Buckanavage sold 3,000 shares of the business’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $13.65, for a total transaction of $40,950.00. Following the completion of the transaction, the insider now owns 57,172 shares in the company, valued at approximately $780,397.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.50% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the business. Janney Montgomery Scott LLC lifted its holdings in shares of Harvest Capital Credit Corporation by 3.8% in the 2nd quarter. Janney Montgomery Scott LLC now owns 75,974 shares of the investment management company’s stock worth $996,000 after buying an additional 2,753 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Harvest Capital Credit Corporation by 18.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 36,344 shares of the investment management company’s stock worth $480,000 after buying an additional 5,772 shares during the period. Finally, Macquarie Group Ltd. purchased a new stake in shares of Harvest Capital Credit Corporation in the 3rd quarter worth $503,000. Institutional investors and hedge funds own 5.47% of the company’s stock.
About Harvest Capital Credit Corporation
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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