Harvest Capital Credit (HCAP) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Harvest Capital Credit (NASDAQ:HCAP) from a strong sell rating to a hold rating in a research note released on Tuesday morning, Zacks.com reports.

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. “

Shares of NASDAQ:HCAP opened at $10.58 on Tuesday. Harvest Capital Credit has a fifty-two week low of $9.31 and a fifty-two week high of $11.65. The stock has a market capitalization of $65.45 million, a price-to-earnings ratio of 11.38 and a beta of 0.71. The company has a quick ratio of 14.87, a current ratio of 1.72 and a debt-to-equity ratio of 0.44.

Harvest Capital Credit (NASDAQ:HCAP) last announced its quarterly earnings results on Tuesday, May 14th. The investment management company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.04). Harvest Capital Credit had a return on equity of 7.08% and a net margin of 19.75%. The company had revenue of $3.04 million during the quarter, compared to analyst estimates of $3.39 million. As a group, analysts predict that Harvest Capital Credit will post 0.8 EPS for the current fiscal year.

The business also recently declared a monthly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 23rd will be given a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 9.07%. Harvest Capital Credit’s dividend payout ratio is currently 103.23%.

An institutional investor recently raised its position in Harvest Capital Credit stock. Acadian Asset Management LLC grew its stake in Harvest Capital Credit Corp (NASDAQ:HCAP) by 201.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,361 shares of the investment management company’s stock after purchasing an additional 14,936 shares during the quarter. Acadian Asset Management LLC owned about 0.35% of Harvest Capital Credit worth $225,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 9.32% 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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