Harvest Capital Credit (HCAP) Releases Earnings Results, Misses Estimates By $0.01 EPS

Harvest Capital Credit (NASDAQ:HCAP) announced its earnings results on Monday. The investment management company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.01), Morningstar.com reports. Harvest Capital Credit had a return on equity of 11.04% and a net margin of 14.76%.

Shares of HCAP stock traded up $0.17 during midday trading on Monday, hitting $10.43. 8,192 shares of the company were exchanged, compared to its average volume of 25,070. The company has a market capitalization of $66.57, a price-to-earnings ratio of 6.89 and a beta of 0.74. 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 has a 52 week low of $10.03 and a 52 week high of $14.12.

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The business also recently announced a monthly dividend, which was paid on Tuesday, March 27th. Investors of record on Tuesday, March 20th were issued a dividend of $0.095 per share. This represents a $1.14 annualized dividend and a dividend yield of 10.93%. The ex-dividend date of this dividend was Monday, March 19th. Harvest Capital Credit’s payout ratio is 71.25%.

In related news, major shareholder Jmp Group Llc bought 8,475 shares of Harvest Capital Credit stock in a transaction that occurred on Tuesday, January 2nd. The stock was acquired at an average price of $10.99 per share, with a total value of $93,140.25. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have purchased a total of 63,198 shares of company stock valued at $681,546 in the last ninety days. 9.50% of the stock is currently owned by insiders.

A hedge fund recently raised its stake in Harvest Capital Credit stock. Ladenburg Thalmann Financial Services Inc. raised its holdings in Harvest Capital Credit Corp (NASDAQ:HCAP) by 21.7% in the third quarter, according to its most recent 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 period. Ladenburg Thalmann Financial Services Inc. owned approximately 0.54% of Harvest Capital Credit worth $471,000 at the end of the most recent quarter. 5.59% of the stock is owned by institutional investors and hedge funds.

Several analysts recently commented on the stock. Janney Montgomery Scott downgraded shares of Harvest Capital Credit from a “buy” rating to a “neutral” rating in a report on Friday, February 9th. Zacks Investment Research raised shares of Harvest Capital Credit from a “sell” rating to a “hold” rating in a report on Thursday, February 8th. Finally, ValuEngine downgraded shares of Harvest Capital Credit from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $13.50.

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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.

Earnings History for Harvest Capital Credit (NASDAQ:HCAP)

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