Harvest Capital Credit Corporation (HCAP) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research lowered shares of Harvest Capital Credit Corporation (NASDAQ:HCAP) from a hold rating to a sell rating in a research note released on Thursday.

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. “

Separately, Keefe, Bruyette & Woods restated a hold rating and issued a $13.50 price target on shares of Harvest Capital Credit Corporation in a research note on Friday, August 11th.

Harvest Capital Credit Corporation (NASDAQ HCAP) traded up $0.23 during mid-day trading on Thursday, reaching $12.19. The company’s stock had a trading volume of 30,100 shares, compared to its average volume of 29,090. Harvest Capital Credit Corporation has a 1-year low of $11.70 and a 1-year high of $14.88. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.39. The company has a market cap of $79.09, a P/E ratio of 8.18 and a beta of 0.75.

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The company also recently disclosed a monthly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 22nd will be issued a dividend of $0.1125 per share. The ex-dividend date of this dividend is Thursday, December 21st. This represents a $1.35 annualized dividend and a dividend yield of 11.07%. Harvest Capital Credit Corporation’s dividend payout ratio (DPR) is 287.24%.

In other news, insider Richard Paul Buckanavage sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $13.65, for a total transaction of $40,950.00. Following the sale, the insider now directly owns 57,172 shares of the company’s stock, valued at approximately $780,397.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.50% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Janney Montgomery Scott LLC raised its holdings in shares of 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 in the last quarter. Macquarie Group Ltd. purchased a new stake in shares of Harvest Capital Credit Corporation during the 3rd quarter worth approximately $503,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of 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 in the last quarter. 5.47% of the stock is currently owned by institutional investors and hedge funds.

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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