Harvest Capital Credit (NASDAQ:HCAP) Cut to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Harvest Capital Credit (NASDAQ:HCAP) from a hold rating to a sell rating in a research report sent to investors on Wednesday 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 $9.95 on Wednesday. The firm has a market cap of $60.40 million, a PE ratio of 10.70 and a beta of 0.67. The firm’s 50 day simple moving average is $10.27 and its 200-day simple moving average is $10.42. Harvest Capital Credit has a one year low of $9.31 and a one year high of $11.65. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.72 and a current ratio of 10.39.

Harvest Capital Credit (NASDAQ:HCAP) last issued its earnings results on Friday, August 9th. The investment management company reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.02). The company had revenue of $2.99 million for the quarter, compared to analysts’ expectations of $3.50 million. Harvest Capital Credit had a return on equity of 6.25% and a net margin of 16.14%. Equities research analysts predict that Harvest Capital Credit will post 0.7 EPS for the current fiscal year.

The business also recently announced a monthly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 22nd will be given a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 9.65%. The ex-dividend date is Wednesday, August 21st. Harvest Capital Credit’s dividend payout ratio (DPR) is presently 103.23%.

A hedge fund recently raised its stake in Harvest Capital Credit stock. Acadian Asset Management LLC lifted its stake in shares of Harvest Capital Credit Corp (NASDAQ:HCAP) by 10.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,153 shares of the investment management company’s stock after acquiring an additional 2,623 shares during the quarter. Acadian Asset Management LLC owned approximately 0.44% of Harvest Capital Credit worth $287,000 at the end of the most recent reporting period. Institutional investors own 8.11% of the company’s stock.

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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