Insider Activity: Harvest Capital Credit Corp (HCAP)

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  • On Wednesday, August 28th, Joseph Jolson picked up 6,394 shares of Harvest Capital Credit Corp (HCAP), where he serves as director and already has an ownership stake with more than 10 percent of the shares outstanding.

    The purchase came to nearly $63,000, and increased his stake in the company by 0.85 percent. Year-to-date, insiders have been buyers of shares at the company, almost exclusively by Jolson, but there has also been one buy from the company’s CEO.

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    The last insider sales occurred in November 2018, at a price 10 percent higher than where shares trade. Harvest Capital is a business development company that provides structured credit to small businesses, either in the form of loans or equity stakes.

    Action to take: Shares look like an attractive buy below $10. As a business development company, the firm is required to pay out the majority of its earnings to its shareholders, much like a REIT. So the company has a high dividend yield, north of 9 percent here.

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  • That high yield also implies limited upside, but with shares down 11 percent over the past year, there is some room for capital gains as well going forward. With a mere $60 million market cap, this is a smaller play, so there are no options trades for speculators.