Zacks Investment Research Lowers Harvest Capital Credit Corp (HCAP) to Strong Sell

Harvest Capital Credit Corp (NASDAQ:HCAP) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday.

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. “

Harvest Capital Credit Corp (NASDAQ:HCAP) traded down 0.90% on Monday, hitting $14.27. 46,419 shares of the stock were exchanged. Harvest Capital Credit Corp has a 52 week low of $11.30 and a 52 week high of $14.88. The company’s 50-day moving average is $14.24 and its 200-day moving average is $13.21.

Harvest Capital Credit Corp (NASDAQ:HCAP) last released its quarterly earnings results on Wednesday, March 15th. The investment management company reported $0.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.40 by $0.01. Harvest Capital Credit Corp had a net margin of 23.91% and a return on equity of 12.62%. On average, analysts expect that Harvest Capital Credit Corp will post $1.42 earnings per share for the current fiscal year.

The business also recently declared a monthly dividend, which will be paid on Thursday, March 23rd. Investors of record on Thursday, March 16th will be given a $0.1125 dividend. The ex-dividend date is Tuesday, March 14th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 9.46%. Harvest Capital Credit Corp’s dividend payout ratio (DPR) is 158.82%.

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A hedge fund recently bought a new stake in Harvest Capital Credit Corp stock. Shelton Capital Management purchased a new position in shares of Harvest Capital Credit Corp (NASDAQ:HCAP) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 35,910 shares of the investment management company’s stock, valued at approximately $494,000. Hedge funds and other institutional investors own 7.85% of the company’s stock.

About Harvest Capital Credit Corp

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.

5 Day Chart for NASDAQ:HCAP

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