Harvest Capital Credit (HCAP) Issues Earnings Results

Harvest Capital Credit (NASDAQ:HCAP) posted its quarterly earnings data on Thursday. The investment management company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01), Bloomberg Earnings reports. The company had revenue of $4.06 million during the quarter, compared to analysts’ expectations of $4.03 million. Harvest Capital Credit had a return on equity of 9.62% and a net margin of 7.70%.

NASDAQ:HCAP opened at $10.91 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $70.60 million, a PE ratio of 8.91 and a beta of 0.76. Harvest Capital Credit has a one year low of $9.90 and a one year high of $13.93.

The business also recently disclosed a monthly dividend, which was paid on Thursday, July 26th. Stockholders of record on Thursday, July 19th were paid a $0.095 dividend. The ex-dividend date was Wednesday, July 18th. This represents a $1.14 annualized dividend and a dividend yield of 10.45%. Harvest Capital Credit’s dividend payout ratio (DPR) is 89.06%.

In related news, CEO Joseph A. Jolson acquired 46,511 shares of Harvest Capital Credit stock in a transaction dated Tuesday, June 26th. The stock was purchased at an average cost of $10.45 per share, for a total transaction of $486,039.95. Following the purchase, the chief executive officer now directly owns 20,000 shares of the company’s stock, valued at approximately $209,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph A. Jolson acquired 11,259 shares of Harvest Capital Credit stock in a transaction dated Thursday, May 17th. The stock was bought at an average price of $10.10 per share, with a total value of $113,715.90. Following the completion of the purchase, the chief executive officer now directly owns 20,000 shares in the company, valued at $202,000. The disclosure for this purchase can be found here. Insiders bought a total of 144,829 shares of company stock valued at $1,492,401 over the last 90 days. 9.30% of the stock is currently owned by company insiders.

HCAP has been the subject of several analyst reports. TheStreet upgraded Harvest Capital Credit from a “c+” rating to a “b-” rating in a research note on Wednesday, July 18th. Zacks Investment Research upgraded Harvest Capital Credit from a “strong sell” rating to a “hold” rating in a research note on Monday, July 16th. Finally, ValuEngine upgraded Harvest Capital Credit from a “sell” rating to a “hold” rating in a research note on Tuesday, July 10th. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company. The stock has an average rating of “Hold” and a consensus target price of $12.00.

Harvest Capital Credit Company Profile

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.

Recommended Story: Google Finance Portfolio Workaround

Earnings History for Harvest Capital Credit (NASDAQ:HCAP)

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.

Leave a Reply