Harvest Capital Credit (HCAP) Releases Earnings Results, Misses Estimates By $0.01 EPS

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Harvest Capital Credit (NASDAQ:HCAP) posted its earnings results on Thursday. The investment management company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01), MarketWatch Earnings reports. The firm had revenue of $4.32 million for the quarter, compared to the consensus estimate of $4.47 million. Harvest Capital Credit had a net margin of 24.15% and a return on equity of 8.65%.

Shares of NASDAQ HCAP traded up $0.06 during midday trading on Friday, reaching $10.97. 8,237 shares of the stock traded hands, compared to its average volume of 19,038. The company has a debt-to-equity ratio of 0.63, a quick ratio of 5.70 and a current ratio of 5.70. The company has a market capitalization of $69.99 million, a P/E ratio of 8.57 and a beta of 0.74. Harvest Capital Credit has a one year low of $9.90 and a one year high of $12.56.

The company also recently announced a dividend, which will be paid on Friday, November 30th. Stockholders of record on Friday, November 23rd will be given a dividend of $0.095 per share. The ex-dividend date of this dividend is Wednesday, November 21st. Harvest Capital Credit’s dividend payout ratio is currently 89.06%.

A number of research analysts have recently commented on the company. TheStreet downgraded Harvest Capital Credit from a “b” rating to a “c+” rating in a research report on Tuesday, September 4th. ValuEngine upgraded Harvest Capital Credit from a “sell” rating to a “hold” rating in a research report on Tuesday, September 4th. Finally, Zacks Investment Research upgraded Harvest Capital Credit from a “strong sell” rating to a “hold” rating in a research report on Monday, July 16th. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the company. The company presently has an average rating of “Hold” and an average price target of $12.00.

In related news, CEO Joseph A. Jolson purchased 7,460 shares of the stock in a transaction that occurred on Tuesday, November 6th. The stock was bought at an average cost of $10.50 per share, for a total transaction of $78,330.00. Following the completion of the transaction, the chief executive officer now directly owns 20,000 shares in the company, valued at $210,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Joseph A. Jolson purchased 6,192 shares of the stock in a transaction that occurred on Friday, October 26th. The stock was bought at an average price of $10.50 per share, with a total value of $65,016.00. Following the completion of the transaction, the chief executive officer now owns 20,000 shares of the company’s stock, valued at $210,000. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 29,533 shares of company stock valued at $310,001. 9.30% of the stock is owned by corporate insiders.

An institutional investor recently bought a new position in Harvest Capital Credit stock. Franklin Square Holdings L.P. purchased a new position in Harvest Capital Credit Corp (NASDAQ:HCAP) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,350,620 shares of the investment management company’s stock, valued at approximately $29,714,000. Harvest Capital Credit comprises approximately 33.8% of Franklin Square Holdings L.P.’s holdings, making the stock its biggest position. Franklin Square Holdings L.P. owned about 21.10% of Harvest Capital Credit as of its most recent SEC filing. 28.84% of the stock is currently owned by hedge funds and other institutional investors.

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Harvest Capital Credit Company Profile

Harvest Capital Credit Corporation is a business development company providing structured credit to small businesses and specializing in leveraged buyouts, add-on acquisitions, recapitalizations, growth financings and debt refinancing investments. It prefers to invest in North America-based companies.

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Earnings History for Harvest Capital Credit (NASDAQ:HCAP)

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