Harvest Capital Credit (NASDAQ:HCAP) Downgraded by ValuEngine to “Sell”

ValuEngine lowered shares of Harvest Capital Credit (NASDAQ:HCAP) from a hold rating to a sell rating in a research report sent to investors on Thursday morning, ValuEngine reports.

Separately, Zacks Investment Research downgraded shares of Harvest Capital Credit from a hold rating to a strong sell rating in a report on Thursday, March 19th.

Shares of Harvest Capital Credit stock traded down $0.07 during midday trading on Thursday, hitting $3.97. The company had a trading volume of 21,927 shares, compared to its average volume of 22,832. The company has a debt-to-equity ratio of 1.08, a quick ratio of 15.63 and a current ratio of 15.63. The stock has a market capitalization of $24.05 million, a P/E ratio of -19.85 and a beta of 1.13. The company has a 50 day moving average of $6.46 and a 200 day moving average of $8.58. Harvest Capital Credit has a 52-week low of $2.66 and a 52-week high of $10.73.

Harvest Capital Credit (NASDAQ:HCAP) last released its quarterly earnings results on Friday, March 13th. The investment management company reported $0.19 earnings per share for the quarter, meeting the consensus estimate of $0.19. The firm had revenue of $3.36 million for the quarter, compared to analysts’ expectations of $3.68 million. Harvest Capital Credit had a positive return on equity of 5.40% and a negative net margin of 9.52%. Equities research analysts forecast that Harvest Capital Credit will post 0.84 EPS for the current year.

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, May 28th. Investors of record on Thursday, May 21st will be issued a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a yield of 24.18%. The ex-dividend date is Wednesday, May 20th. Harvest Capital Credit’s payout ratio is 152.38%.

In other news, CEO Joseph A. Jolson purchased 13,070 shares of the business’s stock in a transaction on Friday, March 20th. The shares were acquired at an average cost of $4.35 per share, with a total value of $56,854.50. Following the completion of the acquisition, the chief executive officer now owns 30,000 shares of the company’s stock, valued at $130,500. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Joseph A. Jolson acquired 18,591 shares of the company’s stock in a transaction dated Wednesday, March 18th. The shares were bought at an average cost of $2.72 per share, for a total transaction of $50,567.52. Following the completion of the acquisition, the chief executive officer now directly owns 30,000 shares of the company’s stock, valued at $81,600. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 70,999 shares of company stock worth $275,168. 13.40% of the stock is currently owned by corporate insiders.

A hedge fund recently raised its stake in Harvest Capital Credit stock. Gables Capital Management Inc. increased its stake in shares of Harvest Capital Credit Corp (NASDAQ:HCAP) by 0.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 194,616 shares of the investment management company’s stock after buying an additional 1,384 shares during the quarter. Harvest Capital Credit comprises approximately 1.1% of Gables Capital Management Inc.’s investment portfolio, making the stock its 28th biggest holding. Gables Capital Management Inc. owned 3.28% of Harvest Capital Credit worth $1,710,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 8.02% of the company’s stock.

Harvest Capital Credit Company Profile

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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