Harvest Capital Credit (HCAP) Posts Earnings Results, Misses Estimates By $0.04 EPS

Share on StockTwits

Harvest Capital Credit (NASDAQ:HCAP) issued its quarterly earnings data on Tuesday. The investment management company reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.04), MarketWatch Earnings reports. Harvest Capital Credit had a net margin of 31.31% and a return on equity of 7.51%. The firm had revenue of $3.04 million for the quarter, compared to analysts’ expectations of $3.39 million.

Shares of NASDAQ:HCAP traded down $0.23 during trading on Wednesday, reaching $10.23. The company’s stock had a trading volume of 6,708 shares, compared to its average volume of 7,576. The company has a current ratio of 14.87, a quick ratio of 14.87 and a debt-to-equity ratio of 0.57. Harvest Capital Credit has a 12 month low of $9.31 and a 12 month high of $11.65. The company has a market cap of $63.73 million, a price-to-earnings ratio of 11.00 and a beta of 0.71.

The firm also recently declared a monthly dividend, which will be paid on Thursday, May 30th. Investors of record on Thursday, May 23rd will be issued a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 9.38%. The ex-dividend date of this dividend is Wednesday, May 22nd. Harvest Capital Credit’s payout ratio is 103.23%.

In other Harvest Capital Credit news, CEO Joseph A. Jolson purchased 13,660 shares of the stock in a transaction that occurred on Wednesday, February 20th. The stock was purchased at an average price of $9.84 per share, with a total value of $134,414.40. Following the acquisition, the chief executive officer now owns 20,000 shares in the company, valued at $196,800. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 13.40% of the stock is currently owned by company insiders.

A hedge fund recently raised its stake in Harvest Capital Credit stock. Acadian Asset Management LLC boosted its position in Harvest Capital Credit Corp (NASDAQ:HCAP) by 201.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,361 shares of the investment management company’s stock after purchasing an additional 14,936 shares during the period. Acadian Asset Management LLC owned approximately 0.35% of Harvest Capital Credit worth $225,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 9.32% of the stock is currently owned by institutional investors and hedge funds.

Separately, Zacks Investment Research downgraded shares of Harvest Capital Credit from a “buy” rating to a “hold” rating in a report on Monday, February 11th.

TRADEMARK VIOLATION NOTICE: This report was posted by Week Herald and is owned by of Week Herald. If you are reading this report on another publication, it was illegally copied and reposted in violation of US and international trademark & copyright laws. The original version of this report can be viewed at https://weekherald.com/2019/05/15/harvest-capital-credit-hcap-posts-earnings-results-misses-estimates-by-0-04-eps.html.

About Harvest Capital Credit

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.

Read More: What are earnings reports?

Earnings History for Harvest Capital Credit (NASDAQ:HCAP)

Receive News & Ratings for Harvest Capital Credit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Harvest Capital Credit and related companies with MarketBeat.com's FREE daily email newsletter.