Harvest Capital Credit Corp (HCAP) Receives Average Rating of “Buy” from Brokerages

Harvest Capital Credit Corp (NASDAQ:HCAP) has been assigned a consensus broker rating score of 2.00 (Buy) from the two analysts that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and one has issued a strong buy rating on the company.

Brokers have set a 1 year consensus target price of $15.00 for the company and are predicting that the company will post $0.30 EPS for the current quarter, according to Zacks. Zacks has also given Harvest Capital Credit an industry rank of 57 out of 265 based on the ratings given to related companies.

Several research firms have recently commented on HCAP. ValuEngine cut shares of Harvest Capital Credit from a “strong-buy” rating to a “buy” rating in a research report on Friday. Zacks Investment Research raised shares of Harvest Capital Credit from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 10th. Finally, TheStreet cut shares of Harvest Capital Credit from a “b-” rating to a “c+” rating in a research report on Wednesday, November 29th.

In other Harvest Capital Credit news, major shareholder Jmp Group Llc purchased 5,675 shares of the stock in a transaction that occurred on Saturday, December 29th. The stock was bought at an average cost of $10.99 per share, with a total value of $62,368.25. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Craig R. Kitchin sold 12,456 shares of Harvest Capital Credit stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $12.25, for a total transaction of $152,586.00. Following the transaction, the chief financial officer now directly owns 8,694 shares of the company’s stock, valued at $106,501.50. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 142,566 shares of company stock valued at $1,541,218. 9.50% of the stock is currently owned by corporate insiders.

An institutional investor recently raised its position in Harvest Capital Credit stock. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Harvest Capital Credit Corp (NASDAQ:HCAP) by 21.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,214 shares of the investment management company’s stock after acquiring an additional 6,282 shares during the period. Ladenburg Thalmann Financial Services Inc. owned 0.54% of Harvest Capital Credit worth $471,000 at the end of the most recent reporting period. 5.71% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Harvest Capital Credit (HCAP) opened at $11.37 on Tuesday. Harvest Capital Credit has a 12-month low of $10.52 and a 12-month high of $14.65. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.43 and a quick ratio of 1.43. The company has a market cap of $74.68, a PE ratio of 24.19 and a beta of 0.70.

Harvest Capital Credit (NASDAQ:HCAP) last posted its earnings results on Tuesday, November 7th. The investment management company reported $0.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.02). Harvest Capital Credit had a return on equity of 11.04% and a net margin of 14.76%. research analysts predict that Harvest Capital Credit will post 1.39 earnings per share for the current year.

The firm also recently declared a monthly dividend, which was paid on Friday, January 26th. Investors of record on Friday, January 19th were given a dividend of $0.1125 per share. This is a boost from Harvest Capital Credit’s previous monthly dividend of $0.11. This represents a $1.35 dividend on an annualized basis and a yield of 11.87%. The ex-dividend date of this dividend was Thursday, January 18th. Harvest Capital Credit’s dividend payout ratio (DPR) is 287.24%.

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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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