Harvest Capital Credit Corp (NASDAQ:HCAP) Given Average Recommendation of “Hold” by Brokerages

Harvest Capital Credit Corp (NASDAQ:HCAP) has earned an average broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating.

Analysts have set a 1-year consensus price objective of $10.50 for the company and are expecting that the company will post $0.19 EPS for the current quarter, according to Zacks. Zacks has also assigned Harvest Capital Credit an industry rank of 149 out of 255 based on the ratings given to its competitors.

Separately, Zacks Investment Research cut Harvest Capital Credit from a “hold” rating to a “sell” rating in a report on Wednesday.

In related news, CEO Joseph A. Jolson acquired 6,078 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average cost of $9.85 per share, with a total value of $59,868.30. Following the acquisition, the chief executive officer now directly owns 20,000 shares of the company’s stock, valued at $197,000. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph A. Jolson acquired 15,000 shares of the company’s stock in a transaction on Friday, September 6th. The stock was bought at an average cost of $9.77 per share, with a total value of $146,550.00. Following the completion of the acquisition, the chief executive officer now directly owns 20,000 shares in the company, valued at $195,400. The disclosure for this purchase can be found here. Insiders acquired a total of 40,440 shares of company stock valued at $396,584 over the last ninety days. Insiders own 13.40% of the company’s stock.

A hedge fund recently raised its stake in Harvest Capital Credit stock. Acadian Asset Management LLC grew its holdings in Harvest Capital Credit Corp (NASDAQ:HCAP) by 9.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 24,530 shares of the investment management company’s stock after purchasing an additional 2,169 shares during the period. Acadian Asset Management LLC owned approximately 0.40% of Harvest Capital Credit worth $256,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 8.25% of the company’s stock.

HCAP opened at $9.89 on Wednesday. Harvest Capital Credit has a 12-month low of $9.31 and a 12-month high of $11.65. The stock has a market cap of $60.67 million, a price-to-earnings ratio of 13.15 and a beta of 0.67. The business has a 50 day moving average of $9.96 and a 200-day moving average of $10.26. The company has a quick ratio of 10.39, a current ratio of 10.39 and a debt-to-equity ratio of 0.76.

Harvest Capital Credit (NASDAQ:HCAP) last released its quarterly earnings results on Friday, August 9th. The investment management company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.02). The firm had revenue of $2.99 million for the quarter, compared to analyst estimates of $3.50 million. Harvest Capital Credit had a return on equity of 6.25% and a net margin of 16.14%. As a group, analysts expect that Harvest Capital Credit will post 0.67 earnings per share for the current year.

The business also recently disclosed a dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 17th will be issued a $0.08 dividend. The ex-dividend date is Wednesday, October 16th. Harvest Capital Credit’s dividend payout ratio is presently 103.23%.

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.

Further Reading: What is the G-20?

Get a free copy of the Zacks research report on Harvest Capital Credit (HCAP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Harvest Capital Credit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Harvest Capital Credit and related companies with MarketBeat.com's FREE daily email newsletter.