Harvest Capital Credit (HCAP) Downgraded by Zacks Investment Research to Strong Sell

Zacks Investment Research lowered shares of Harvest Capital Credit (NASDAQ:HCAP) from a hold rating to a strong sell rating in a research note published on Wednesday.

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 opened at $10.25 on Wednesday. The company has a quick ratio of 9.73, a current ratio of 14.87 and a debt-to-equity ratio of 0.57. Harvest Capital Credit has a 52-week low of $9.31 and a 52-week high of $11.65. The company has a market cap of $65.40 million, a price-to-earnings ratio of 11.12 and a beta of 0.71.

Harvest Capital Credit (NASDAQ:HCAP) last released its quarterly earnings data on Friday, March 15th. The investment management company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.01. Harvest Capital Credit had a net margin of 31.31% and a return on equity of 7.51%. The company had revenue of $4.07 million during the quarter, compared to the consensus estimate of $3.90 million. On average, research analysts predict that Harvest Capital Credit will post 0.88 earnings per share for the current fiscal year.

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Thursday, April 18th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, April 17th. This represents a $0.96 annualized dividend and a yield of 9.37%. Harvest Capital Credit’s dividend payout ratio is currently 103.23%.

In other news, CEO Joseph A. Jolson bought 19,658 shares of Harvest Capital Credit stock in a transaction dated Thursday, December 27th. The shares were acquired at an average cost of $9.63 per share, with a total value of $189,306.54. Following the completion of the transaction, the chief executive officer now owns 20,000 shares in the company, valued at approximately $192,600. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Joseph A. Jolson bought 18,919 shares of Harvest Capital Credit stock in a transaction dated Friday, December 21st. The shares were purchased at an average cost of $9.52 per share, for a total transaction of $180,108.88. Following the completion of the transaction, the chief executive officer now owns 20,000 shares of the company’s stock, valued at approximately $190,400. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 63,281 shares of company stock valued at $611,028. 9.30% of the stock is owned by insiders.

A hedge fund recently raised its stake in Harvest Capital Credit stock. Acadian Asset Management LLC increased its holdings in shares of Harvest Capital Credit Corp (NASDAQ:HCAP) by 201.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,361 shares of the investment management company’s stock after purchasing an additional 14,936 shares during the period. Acadian Asset Management LLC owned approximately 0.35% of Harvest Capital Credit worth $225,000 at the end of the most recent quarter. Institutional investors own 9.16% of the company’s stock.

About Harvest Capital Credit

Harvest Capital Credit Corporation is a business development company providing structured credit to small businesses and specializing in leveraged buyouts, add-on acquisitions, recapitalizations, growth financings and debt refinancing investments. It prefers to invest in North America-based companies.

See Also: What Does a Sell-Side Analyst Rating Mean?

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