Harvest Capital Credit (HCAP) Upgraded by Zacks Investment Research to Hold

Harvest Capital Credit (NASDAQ:HCAP) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued 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. “

Other equities research analysts have also issued research reports about the stock. TheStreet lowered shares of Harvest Capital Credit from a “b-” rating to a “c+” rating in a report on Wednesday, November 29th. ValuEngine lowered shares of Harvest Capital Credit from a “buy” rating to a “hold” rating in a report on Wednesday, November 29th.

Shares of Harvest Capital Credit (NASDAQ:HCAP) opened at $11.34 on Wednesday. The company has a market cap of $72.87, a price-to-earnings ratio of 24.13 and a beta of 0.66. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.39. Harvest Capital Credit has a 1-year low of $10.52 and a 1-year high of $14.65.

In other news, CFO Craig R. Kitchin sold 12,456 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $12.25, for a total transaction of $152,586.00. Following the completion of the sale, the chief financial officer now owns 8,694 shares of the company’s stock, valued at $106,501.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Jmp Group Llc bought 38,841 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were acquired at an average cost of $10.75 per share, with a total value of $417,540.75. The disclosure for this purchase can be found here. In the last three months, insiders purchased 142,566 shares of company stock valued at $1,541,218. 9.50% of the stock is owned by insiders.

A hedge fund recently raised its stake in Harvest Capital Credit stock. Ladenburg Thalmann Financial Services Inc. raised its holdings 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 institutional investor owned 35,214 shares of the investment management company’s stock after buying an additional 6,282 shares during the quarter. Ladenburg Thalmann Financial Services Inc. owned about 0.54% of Harvest Capital Credit worth $471,000 as of its most recent SEC filing. Institutional investors own 5.72% 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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