Harvest Capital Credit (HCAP) Upgraded to “Hold” at 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. “

A number of other research analysts have also issued reports on HCAP. ValuEngine lowered Harvest Capital Credit from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 2nd. TheStreet lowered Harvest Capital Credit from a “b-” rating to a “c+” rating in a research report on Wednesday, November 29th.

Harvest Capital Credit (HCAP) opened at $11.74 on Thursday. Harvest Capital Credit has a 12-month low of $10.52 and a 12-month high of $14.65. The stock has a market capitalization of $74.61, a P/E ratio of 24.98 and a beta of 0.70. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.43 and a current ratio of 1.43.

Harvest Capital Credit (NASDAQ:HCAP) last released its quarterly earnings data on Tuesday, November 7th. The investment management company reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.02). Harvest Capital Credit had a net margin of 14.76% and a return on equity of 11.04%. The company had revenue of $4.82 million for the quarter, compared to analyst estimates of $5.00 million. equities analysts forecast that Harvest Capital Credit will post 1.39 earnings per share for the current fiscal year.

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

An institutional investor recently raised its position in Harvest Capital Credit stock. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of Harvest Capital Credit Corp (NASDAQ:HCAP) by 21.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 35,214 shares of the investment management company’s stock after acquiring 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. 5.71% of the stock is currently owned by hedge funds and other institutional investors.

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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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