Harvest Capital Credit Corporation (NASDAQ:HCAP) – Equities research analysts at William Blair decreased their FY2017 EPS estimates for shares of Harvest Capital Credit Corporation in a research note issued on Tuesday. William Blair analyst R. Napoli now expects that the investment management company will earn $1.39 per share for the year, down from their previous estimate of $1.45.
HCAP has been the subject of a number of other research reports. Zacks Investment Research cut shares of Harvest Capital Credit Corporation from a “hold” rating to a “sell” rating in a research report on Thursday. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $13.50 target price on shares of Harvest Capital Credit Corporation in a research report on Friday, August 11th.
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Shares of Harvest Capital Credit Corporation (HCAP) opened at $12.19 on Friday. The stock has a market cap of $77.60, a PE ratio of 8.03 and a beta of 0.75. The company has a current ratio of 1.43, a quick ratio of 5.65 and a debt-to-equity ratio of 0.39. Harvest Capital Credit Corporation has a 1 year low of $11.70 and a 1 year high of $14.88.
Harvest Capital Credit Corporation (NASDAQ:HCAP) last announced its earnings results on Wednesday, August 9th. The investment management company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.06. The business had revenue of $5.08 million during the quarter, compared to analysts’ expectations of $5.14 million. Harvest Capital Credit Corporation had a net margin of 14.76% and a return on equity of 11.04%.
A number of large investors have recently modified their holdings of HCAP. Goldman Sachs Group Inc. grew its holdings in Harvest Capital Credit Corporation by 18.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 36,344 shares of the investment management company’s stock worth $480,000 after acquiring an additional 5,772 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in Harvest Capital Credit Corporation by 3.8% during the 2nd quarter. Janney Montgomery Scott LLC now owns 75,974 shares of the investment management company’s stock worth $996,000 after acquiring an additional 2,753 shares during the last quarter. Finally, Macquarie Group Ltd. bought a new stake in Harvest Capital Credit Corporation during the 3rd quarter worth about $503,000. 5.53% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Richard Paul Buckanavage sold 3,000 shares of the stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $13.65, for a total transaction of $40,950.00. Following the completion of the sale, the insider now owns 57,172 shares in the company, valued at approximately $780,397.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 9.50% of the company’s stock.
The company also recently announced a monthly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 22nd will be given a dividend of $0.1125 per share. This represents a $1.35 dividend on an annualized basis and a dividend yield of 11.07%. The ex-dividend date of this dividend is Thursday, December 21st. Harvest Capital Credit Corporation’s dividend payout ratio (DPR) is currently 287.24%.
About Harvest Capital Credit Corporation
Harvest Capital Credit Corporation is an externally managed, closed-end, non-diversified management investment company. The Company operates as a business development company and provides customized financing solutions for small to mid-sized companies. Its investment objective is to generate both current income and capital appreciation by making direct investments in the form of subordinated debt, senior debt, and to a lesser extent, minority equity investments in privately-held the United States small to mid-sized companies.
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