Harvest Capital Credit (NASDAQ:HCAP) Lowered 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 note released on Wednesday, 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 Harvest Capital Credit stock opened at $10.17 on Wednesday. The stock’s fifty day simple moving average is $10.40. The company has a market capitalization of $62.77 million, a price-to-earnings ratio of 11.69 and a beta of 0.68. Harvest Capital Credit has a 12 month low of $9.31 and a 12 month high of $11.65. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.44.

Harvest Capital Credit (NASDAQ:HCAP) last issued its earnings results on Tuesday, May 14th. The investment management company reported $0.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.04). The firm had revenue of $3.04 million during the quarter, compared to the consensus estimate of $3.39 million. Harvest Capital Credit had a net margin of 19.75% and a return on equity of 7.08%. On average, research analysts anticipate that Harvest Capital Credit will post 0.71 EPS for the current fiscal year.

The company also recently announced a monthly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Thursday, July 18th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, July 17th. This represents a $0.96 annualized dividend and a dividend yield of 9.44%. Harvest Capital Credit’s payout ratio is presently 103.23%.

An institutional investor recently raised its position in Harvest Capital Credit stock. Acadian Asset Management LLC raised its position in Harvest Capital Credit Corp (NASDAQ:HCAP) by 9.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,530 shares of the investment management company’s stock after buying an additional 2,169 shares during the quarter. Acadian Asset Management LLC owned about 0.40% of Harvest Capital Credit worth $256,000 at the end of the most recent reporting period. Institutional investors own 8.19% 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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