Harvest Capital Credit Corp. (NASDAQ:HCAP) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday. The firm presently has a $14.00 price objective on the investment management company’s stock. Zacks Investment Research’s target price indicates a potential upside of 9.89% from the stock’s previous close.

According to Zacks, “Harvest Capital Credit Corporation is a closed-end management investment company. The company invest in the form of subordinated debt, senior debt and minority equity. Harvest Capital Credit Corporation is headquartered in New York, United Sates. “

Separately, William Blair cut Harvest Capital Credit Corp. from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 11th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $13.75.

Harvest Capital Credit Corp. (NASDAQ:HCAP) opened at 12.7399 on Monday. Harvest Capital Credit Corp. has a 52 week low of $9.93 and a 52 week high of $13.50. The stock’s 50 day moving average price is $12.20 and its 200 day moving average price is $12.62.

Harvest Capital Credit Corp. (NASDAQ:HCAP) last issued its quarterly earnings results on Wednesday, November 9th. The investment management company reported $0.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.14. Harvest Capital Credit Corp. had a return on equity of 12.62% and a net margin of 23.91%. On average, equities analysts forecast that Harvest Capital Credit Corp. will post $1.53 earnings per share for the current fiscal year.

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 28th. Shareholders of record on Monday, November 21st will be paid a dividend of $0.1125 per share. This represents a $1.35 dividend on an annualized basis and a yield of 10.60%. The ex-dividend date is Thursday, November 17th. Harvest Capital Credit Corp.’s dividend payout ratio (DPR) is currently 158.82%.

In related news, major shareholder Jmp Group Llc acquired 6,051 shares of the stock in a transaction on Monday, October 17th. The shares were bought at an average price of $12.05 per share, with a total value of $72,914.55. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph A. Jolson acquired 19,540 shares of the stock in a transaction on Thursday, September 15th. The shares were bought at an average cost of $12.39 per share, for a total transaction of $242,100.60. Following the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $247,800. The disclosure for this purchase can be found here. Company insiders own 9.40% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP raised its position in Harvest Capital Credit Corp. by 35.8% in the second quarter. GSA Capital Partners LLP now owns 20,100 shares of the investment management company’s stock worth $257,000 after buying an additional 5,300 shares during the period. Janney Montgomery Scott LLC raised its position in Harvest Capital Credit Corp. by 25.5% in the second quarter. Janney Montgomery Scott LLC now owns 73,227 shares of the investment management company’s stock worth $859,000 after buying an additional 14,866 shares during the period. Stifel Financial Corp raised its position in Harvest Capital Credit Corp. by 5.2% in the second quarter. Stifel Financial Corp now owns 10,811 shares of the investment management company’s stock worth $138,000 after buying an additional 536 shares during the period. JPMorgan Chase & Co. bought a new position in Harvest Capital Credit Corp. during the second quarter worth $161,000. Finally, Punch & Associates Investment Management Inc. raised its position in Harvest Capital Credit Corp. by 3.6% in the second quarter. Punch & Associates Investment Management Inc. now owns 292,641 shares of the investment management company’s stock worth $3,740,000 after buying an additional 10,190 shares during the period. 8.72% of the stock is currently owned by institutional investors.

About Harvest Capital Credit Corp.

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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