Harvest Capital Credit Corporation (HCAP) Issues Earnings Results
Harvest Capital Credit Corporation (NASDAQ:HCAP) issued its earnings results on Wednesday. The investment management company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.06, Bloomberg Earnings reports. The business had revenue of $5.08 million during the quarter, compared to the consensus estimate of $5.14 million. Harvest Capital Credit Corporation had a return on equity of 11.62% and a net margin of 27.50%.
Harvest Capital Credit Corporation (NASDAQ HCAP) traded down 1.11% during midday trading on Friday, hitting $13.37. The stock had a trading volume of 29,356 shares. The firm’s 50-day moving average price is $13.59 and its 200 day moving average price is $13.66. Harvest Capital Credit Corporation has a 12 month low of $11.99 and a 12 month high of $14.88.
The company also recently disclosed a monthly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 21st will be issued a dividend of $0.1125 per share. The ex-dividend date is Wednesday, September 20th. This represents a $1.35 annualized dividend and a dividend yield of 9.99%. Harvest Capital Credit Corporation’s dividend payout ratio is 150.00%.
An institutional investor recently raised its position in Harvest Capital Credit Corporation stock. Goldman Sachs Group Inc. boosted its stake in Harvest Capital Credit Corporation (NASDAQ:HCAP) by 18.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,344 shares of the investment management company’s stock after buying an additional 5,772 shares during the period. Goldman Sachs Group Inc. owned approximately 0.57% of Harvest Capital Credit Corporation worth $480,000 as of its most recent filing with the SEC. Institutional investors own 7.28% of the company’s stock.
HCAP has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods set a $14.00 target price on Harvest Capital Credit Corporation and gave the stock a “hold” rating in a report on Wednesday, May 10th. Zacks Investment Research upgraded Harvest Capital Credit Corporation from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 18th.
Harvest Capital Credit Corporation 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.
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