Harvest Capital Credit Corp (NASDAQ:HCAP) – Analysts at William Blair decreased their Q2 2019 earnings estimates for Harvest Capital Credit in a research note issued on Tuesday, May 14th. William Blair analyst B. Hogan now anticipates that the investment management company will post earnings per share of $0.15 for the quarter, down from their prior forecast of $0.20. William Blair also issued estimates for Harvest Capital Credit’s Q3 2019 earnings at $0.22 EPS, FY2019 earnings at $0.72 EPS, Q2 2020 earnings at $0.26 EPS, Q3 2020 earnings at $0.27 EPS, Q4 2020 earnings at $0.27 EPS and FY2021 earnings at $1.12 EPS.
Separately, Zacks Investment Research cut shares of Harvest Capital Credit from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 20th.
Harvest Capital Credit stock opened at $10.46 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 14.87 and a current ratio of 14.87. Harvest Capital Credit has a 12 month low of $9.31 and a 12 month high of $11.65. The firm has a market cap of $63.12 million, a PE ratio of 11.25 and a beta of 0.71.
Harvest Capital Credit (NASDAQ:HCAP) last posted its quarterly earnings results on Tuesday, May 14th. The investment management company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.04). Harvest Capital Credit had a net margin of 31.31% and a return on equity of 7.51%. The company had revenue of $3.04 million for the quarter, compared to analysts’ expectations of $3.39 million.
The business also recently declared a monthly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 23rd will be issued a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a dividend yield of 9.18%. The ex-dividend date is Wednesday, May 22nd. Harvest Capital Credit’s dividend payout ratio is currently 103.23%.
In other Harvest Capital Credit news, CEO Joseph A. Jolson acquired 13,660 shares of the firm’s stock in a transaction that occurred on Wednesday, February 20th. The stock was purchased at an average cost of $9.84 per share, for a total transaction of $134,414.40. Following the completion of the acquisition, the chief executive officer now owns 20,000 shares of the company’s stock, valued at approximately $196,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 13.40% of the company’s stock.
A hedge fund recently raised its stake in Harvest Capital Credit stock. Acadian Asset Management LLC increased its holdings in Harvest Capital Credit Corp (NASDAQ:HCAP) by 201.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 reporting period. 9.32% of the stock is currently owned by institutional investors and hedge funds.
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.
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