Wall Street analysts predict that Harvest Capital Credit Corp (NASDAQ:HCAP) will announce $4.18 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Harvest Capital Credit’s earnings. The highest sales estimate is $4.25 million and the lowest is $4.11 million. Harvest Capital Credit reported sales of $5.20 million in the same quarter last year, which indicates a negative year over year growth rate of 19.6%. The business is scheduled to issue its next quarterly earnings report on Wednesday, March 21st.
According to Zacks, analysts expect that Harvest Capital Credit will report full year sales of $4.18 million for the current financial year, with estimates ranging from $18.67 million to $18.82 million. For the next year, analysts expect that the business will report sales of $18.88 million per share, with estimates ranging from $18.34 million to $19.42 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Harvest Capital Credit.
Several equities analysts recently weighed in on HCAP shares. ValuEngine downgraded Harvest Capital Credit from a “buy” rating to a “hold” rating in a research note on Wednesday, November 29th. Zacks Investment Research downgraded Harvest Capital Credit from a “hold” rating to a “sell” rating in a research note on Tuesday, January 16th. TheStreet downgraded Harvest Capital Credit from a “b-” rating to a “c+” rating in a research note on Wednesday, November 29th. Finally, Janney Montgomery Scott downgraded Harvest Capital Credit from a “buy” rating to a “neutral” rating in a research note on Friday, February 9th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Harvest Capital Credit presently has a consensus rating of “Hold” and an average price target of $13.50.
The business also recently announced a monthly dividend, which will be paid on Tuesday, March 27th. Shareholders of record on Tuesday, March 20th will be issued a dividend of $0.095 per share. This represents a $1.14 dividend on an annualized basis and a yield of 10.34%. The ex-dividend date of this dividend is Monday, March 19th. Harvest Capital Credit’s dividend payout ratio (DPR) is presently 287.24%.
In other Harvest Capital Credit news, insider Richard Paul Buckanavage sold 5,000 shares of the stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $11.01, for a total transaction of $55,050.00. Following the sale, the insider now owns 49,272 shares in the company, valued at approximately $542,484.72. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Jmp Group Llc bought 60,446 shares of the stock in a transaction on Friday, December 1st. The shares were bought at an average price of $10.75 per share, for a total transaction of $649,794.50. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 160,176 shares of company stock worth $1,730,012. 9.50% of the stock is owned by insiders.
An institutional investor recently bought a new position in Harvest Capital Credit stock. Macquarie Group Ltd. bought a new stake in shares of Harvest Capital Credit Corp (NASDAQ:HCAP) during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 37,629 shares of the investment management company’s stock, valued at approximately $503,000. Macquarie Group Ltd. owned about 0.59% of Harvest Capital Credit as of its most recent filing with the SEC. 5.97% of the stock is currently owned by institutional investors.
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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.
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