William Blair Comments on Harvest Capital Credit Corp’s FY2018 Earnings (HCAP)
Harvest Capital Credit Corp (NASDAQ:HCAP) – William Blair dropped their FY2018 earnings per share (EPS) estimates for Harvest Capital Credit in a research report issued to clients and investors on Monday, November 12th. William Blair analyst R. Napoli now expects that the investment management company will post earnings per share of $0.92 for the year, down from their previous estimate of $0.97.
A number of other equities analysts have also recently weighed in on the company. ValuEngine cut Harvest Capital Credit from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. Zacks Investment Research cut Harvest Capital Credit from a “hold” rating to a “sell” rating in a report on Tuesday, August 14th. Finally, TheStreet cut Harvest Capital Credit from a “b” rating to a “c+” rating in a report on Tuesday, September 4th. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $12.00.
Harvest Capital Credit (NASDAQ:HCAP) last released its quarterly earnings results on Thursday, November 8th. The investment management company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The business had revenue of $4.32 million for the quarter, compared to analysts’ expectations of $4.47 million. Harvest Capital Credit had a return on equity of 7.86% and a net margin of 30.83%.
The company also recently announced a monthly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, December 14th will be issued a dividend of $0.095 per share. This represents a $1.14 dividend on an annualized basis and a yield of 10.39%. The ex-dividend date is Thursday, December 13th. Harvest Capital Credit’s dividend payout ratio (DPR) is 89.06%.
In other news, CEO Joseph A. Jolson bought 6,192 shares of the stock in a transaction that occurred on Friday, October 26th. The stock was bought at an average cost of $10.50 per share, for a total transaction of $65,016.00. Following the acquisition, the chief executive officer now directly owns 20,000 shares of the company’s stock, valued at approximately $210,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph A. Jolson bought 7,460 shares of the stock in a transaction that occurred on Tuesday, November 6th. The shares were purchased at an average price of $10.50 per share, with a total value of $78,330.00. Following the completion of the acquisition, the chief executive officer now directly owns 20,000 shares in the company, valued at $210,000. The disclosure for this purchase can be found here. Insiders have purchased a total of 29,533 shares of company stock valued at $310,001 over the last 90 days. 9.30% of the stock is currently owned by company insiders.
A hedge fund recently bought a new stake in Harvest Capital Credit stock. Franklin Square Holdings L.P. bought a new stake in shares of Harvest Capital Credit Corp (NASDAQ:HCAP) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,350,620 shares of the investment management company’s stock, valued at approximately $29,714,000. Harvest Capital Credit accounts for 33.8% of Franklin Square Holdings L.P.’s portfolio, making the stock its biggest position. Franklin Square Holdings L.P. owned 21.10% of Harvest Capital Credit at the end of the most recent quarter. 28.86% of the stock is currently owned by institutional investors.
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.
See Also: What is a balanced fund?
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.