Insider Buying: Harvest Capital Credit Corporation (HCAP) Major Shareholder Purchases 38,841 Shares of Stock

Harvest Capital Credit Corporation (NASDAQ:HCAP) major shareholder Jmp Group Llc bought 38,841 shares of Harvest Capital Credit stock in a transaction that occurred on Wednesday, November 29th. The shares were acquired at an average cost of $10.75 per share, with a total value of $417,540.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Jmp Group Llc also recently made the following trade(s):

  • On Friday, December 1st, Jmp Group Llc acquired 60,446 shares of Harvest Capital Credit stock. The stock was purchased at an average cost of $10.75 per share, with a total value of $649,794.50.

Shares of Harvest Capital Credit Corporation (NASDAQ HCAP) traded down $0.07 during mid-day trading on Friday, hitting $10.67. 40,336 shares of the stock traded hands, compared to its average volume of 29,939. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.43 and a current ratio of 1.43. Harvest Capital Credit Corporation has a 52-week low of $10.52 and a 52-week high of $14.88. The firm has a market cap of $68.12, a price-to-earnings ratio of 7.45 and a beta of 0.74.

The business also recently disclosed a monthly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 22nd will be issued a $0.1125 dividend. The ex-dividend date of this dividend is Thursday, December 21st. This represents a $1.35 annualized dividend and a dividend yield of 12.65%. Harvest Capital Credit’s dividend payout ratio is currently 287.23%.

Several hedge funds have recently modified their holdings of the company. Janney Montgomery Scott LLC lifted its holdings in shares of Harvest Capital Credit 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 acquiring an additional 2,753 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Harvest Capital Credit 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 acquiring an additional 5,772 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Harvest Capital Credit by 21.7% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 35,214 shares of the investment management company’s stock worth $471,000 after acquiring an additional 6,282 shares during the last quarter. Finally, Macquarie Group Ltd. purchased a new stake in Harvest Capital Credit during the 3rd quarter worth approximately $503,000. Hedge funds and other institutional investors own 5.72% of the company’s stock.

A number of research firms have recently commented on HCAP. Keefe, Bruyette & Woods reissued a “hold” rating and set a $13.50 target price on shares of Harvest Capital Credit in a research note on Friday, August 11th. Zacks Investment Research lowered shares of Harvest Capital Credit from a “hold” rating to a “sell” rating in a report on Friday, August 11th. TheStreet lowered shares of Harvest Capital Credit from a “b-” rating to a “c+” rating in a report on Wednesday. Finally, ValuEngine lowered shares of Harvest Capital Credit from a “buy” rating to a “hold” rating in a report on Wednesday.

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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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