Insider Selling: Harvest Capital Credit Corporation (HCAP) CFO Sells 12,456 Shares of Stock

Harvest Capital Credit Corporation (NASDAQ:HCAP) CFO Craig R. Kitchin sold 12,456 shares of Harvest Capital Credit stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $12.25, for a total transaction of $152,586.00. Following the completion of the transaction, the chief financial officer now directly owns 8,694 shares in the company, valued at $106,501.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Harvest Capital Credit Corporation (HCAP) opened at $10.67 on Monday. The stock has a market cap of $69.23, a price-to-earnings ratio of 7.16 and a beta of 0.68. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.39. Harvest Capital Credit Corporation has a fifty-two week low of $10.52 and a fifty-two week high of $14.88.

The company also recently announced a monthly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 22nd will be issued a $0.1125 dividend. The ex-dividend date of this dividend is Thursday, December 21st. This represents a $1.35 annualized dividend and a yield of 12.65%. Harvest Capital Credit’s payout ratio is 287.24%.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC raised its holdings in shares of Harvest Capital Credit by 3.8% during the second quarter. Janney Montgomery Scott LLC now owns 75,974 shares of the investment management company’s stock valued at $996,000 after purchasing an additional 2,753 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Harvest Capital Credit by 18.9% during the first quarter. Goldman Sachs Group Inc. now owns 36,344 shares of the investment management company’s stock valued at $480,000 after purchasing an additional 5,772 shares during the period. Macquarie Group Ltd. acquired a new position in shares of Harvest Capital Credit during the third quarter valued at about $503,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Harvest Capital Credit by 21.7% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 35,214 shares of the investment management company’s stock valued at $471,000 after purchasing an additional 6,282 shares during the period. Hedge funds and other institutional investors own 5.72% of the company’s stock.

A number of brokerages recently issued reports on HCAP. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $13.50 price objective on shares of Harvest Capital Credit in a research note on Friday, August 11th. Zacks Investment Research cut shares of Harvest Capital Credit from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. ValuEngine cut shares of Harvest Capital Credit from a “buy” rating to a “hold” rating in a research note on Wednesday, November 29th. Finally, TheStreet cut shares of Harvest Capital Credit from a “b-” rating to a “c+” rating in a research note on Wednesday, November 29th.

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About Harvest Capital Credit

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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