Harvest Capital Credit (HCAP) Stock Rating Upgraded by Zacks Investment Research

Harvest Capital Credit (NASDAQ:HCAP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday.

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. “

HCAP has been the topic of a number of other research reports. ValuEngine lowered Harvest Capital Credit from a “buy” rating to a “hold” rating in a research note on Wednesday, November 29th. TheStreet downgraded Harvest Capital Credit from a “b-” rating to a “c+” rating in a report on Wednesday, November 29th.

Shares of Harvest Capital Credit (NASDAQ:HCAP) opened at $11.74 on Thursday. Harvest Capital Credit has a 52 week low of $10.52 and a 52 week high of $14.65. The firm has a market capitalization of $74.61, a PE ratio of 24.98 and a beta of 0.70. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.39.

Harvest Capital Credit (NASDAQ:HCAP) last issued its quarterly earnings results on Tuesday, November 7th. The investment management company reported $0.36 earnings per share for the quarter, missing the Zacks’ 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%. The business had revenue of $4.82 million for the quarter, compared to analysts’ expectations of $5.00 million. research analysts forecast that Harvest Capital Credit will post 1.39 EPS for the current fiscal year.

In other news, major shareholder Jmp Group Llc bought 5,675 shares of the firm’s stock in a transaction that occurred on Saturday, December 29th. The stock was purchased at an average price of $10.99 per share, with a total value of $62,368.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Richard Paul Buckanavage sold 5,000 shares of Harvest Capital Credit stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $11.01, for a total value of $55,050.00. Following the sale, the insider now directly owns 49,272 shares of the company’s stock, valued at approximately $542,484.72. The disclosure for this sale can be found here. Insiders have purchased 142,566 shares of company stock valued at $1,541,218 in the last ninety days. Corporate insiders own 9.50% of the company’s stock.

A hedge fund recently raised its stake in Harvest Capital Credit stock. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Harvest Capital Credit Corp (NASDAQ:HCAP) by 21.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,214 shares of the investment management company’s stock after purchasing an additional 6,282 shares during the quarter. Ladenburg Thalmann Financial Services Inc. owned 0.54% of Harvest Capital Credit worth $471,000 as of its most recent SEC filing. Institutional investors own 5.71% of the company’s stock.

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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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