Zacks: Harvest Capital Credit Corp (HCAP) Given Consensus Rating of “Buy” by Analysts
Shares of Harvest Capital Credit Corp (NASDAQ:HCAP) have received a consensus broker rating score of 2.00 (Buy) from the two analysts that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company.
Brokers have set a one year consensus price target of $15.00 for the company and are forecasting that the company will post $0.30 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Harvest Capital Credit an industry rank of 88 out of 265 based on the ratings given to its competitors.
A number of equities analysts recently weighed in on HCAP shares. Zacks Investment Research cut Harvest Capital Credit from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. TheStreet cut Harvest Capital Credit from a “b-” rating to a “c+” rating in a research note on Wednesday, November 29th. Finally, ValuEngine cut Harvest Capital Credit from a “buy” rating to a “hold” rating in a research note on Wednesday, November 29th.
The business also recently declared a monthly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 22nd will be paid a $0.1125 dividend. The ex-dividend date is Thursday, December 21st. This represents a $1.35 dividend on an annualized basis and a yield of 12.15%. Harvest Capital Credit’s dividend payout ratio (DPR) is currently 287.24%.
In other Harvest Capital Credit news, CFO Craig R. Kitchin sold 12,456 shares of Harvest Capital Credit stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $12.25, for a total value of $152,586.00. Following the transaction, the chief financial officer now directly owns 8,694 shares of the company’s stock, valued at approximately $106,501.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Richard Paul Buckanavage sold 5,000 shares of Harvest Capital Credit stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $11.01, for a total value of $55,050.00. Following the completion of the transaction, the insider now directly owns 49,272 shares in the company, valued at $542,484.72. The disclosure for this sale can be found here. Insiders acquired a total of 102,087 shares of company stock worth $1,098,135 over the last ninety days. Insiders own 9.50% of the company’s stock.
A number of institutional investors have recently made changes to their positions in HCAP. Ladenburg Thalmann Financial Services Inc. increased its stake in 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 purchasing an additional 6,282 shares during the period. Goldman Sachs Group Inc. increased its stake in 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 purchasing an additional 5,772 shares during the period. Macquarie Group Ltd. bought a new stake in shares of Harvest Capital Credit in the 3rd quarter worth approximately $503,000. Finally, Janney Montgomery Scott LLC grew its position 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 buying an additional 2,753 shares during the last quarter. 5.72% of the stock is currently owned by institutional investors and hedge funds.
Harvest Capital Credit Company Profile
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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