Harvest Capital Credit (HCAP) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Harvest Capital Credit (NASDAQ:HCAP) announced its quarterly earnings data on Thursday. The investment management company reported $0.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.01), MarketWatch Earnings reports. Harvest Capital Credit had a net margin of 24.15% and a return on equity of 8.65%. The company had revenue of $4.32 million during the quarter, compared to analyst estimates of $4.47 million.

HCAP traded up $0.06 during midday trading on Friday, reaching $10.97. 8,222 shares of the company’s stock were exchanged, compared to its average volume of 18,364. The company has a current ratio of 5.70, a quick ratio of 5.70 and a debt-to-equity ratio of 0.63. The stock has a market cap of $67.18 million, a P/E ratio of 8.57 and a beta of 0.74. Harvest Capital Credit has a 1-year low of $9.90 and a 1-year high of $12.56.

The firm also recently announced a dividend, which will be paid on Friday, November 30th. Shareholders of record on Friday, November 23rd will be given a dividend of $0.095 per share. The ex-dividend date is Wednesday, November 21st. Harvest Capital Credit’s payout ratio is currently 89.06%.

In other Harvest Capital Credit news, CEO Joseph A. Jolson bought 6,192 shares of the business’s stock in a transaction on Friday, October 26th. The stock was bought at an average price of $10.50 per share, for a total transaction of $65,016.00. Following the completion of the transaction, the chief executive officer now owns 20,000 shares in the company, valued at approximately $210,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joseph A. Jolson bought 7,460 shares of the business’s stock in a transaction on Tuesday, November 6th. The shares were acquired at an average price of $10.50 per share, with a total value of $78,330.00. Following the transaction, the chief executive officer now owns 20,000 shares of the company’s stock, valued at approximately $210,000. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 29,533 shares of company stock valued at $310,001. 9.30% of the stock is currently owned by company insiders.

A hedge fund recently bought a new stake in Harvest Capital Credit stock. Franklin Square Holdings L.P. bought a new position in shares of Harvest Capital Credit Corp (NASDAQ:HCAP) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,350,620 shares of the investment management company’s stock, valued at approximately $29,714,000. Harvest Capital Credit comprises 33.8% of Franklin Square Holdings L.P.’s portfolio, making the stock its largest holding. Franklin Square Holdings L.P. owned about 21.10% of Harvest Capital Credit at the end of the most recent reporting period. 28.84% of the stock is currently owned by institutional investors.

HCAP has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Harvest Capital Credit from a “strong sell” rating to a “hold” rating in a research note on Monday, July 16th. TheStreet upgraded shares of Harvest Capital Credit from a “c+” rating to a “b-” rating in a research report on Wednesday, July 18th. Finally, ValuEngine cut shares of Harvest Capital Credit from a “hold” rating to a “sell” rating in a research report on Thursday, August 2nd. One analyst has rated the stock with a sell rating and three have given a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $12.00.

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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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Earnings History for Harvest Capital Credit (NASDAQ:HCAP)

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