Great Elm Capital (GECC) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Great Elm Capital (NASDAQ:GECC) from a buy rating to a hold rating in a research note released on Wednesday, Zacks.com reports.

According to Zacks, “Great Elm Capital Corp. is a diversified investment company. Its business line consists of investment management, financial products and merchant banking. Great Elm Capital Corp. is based in Baltimore, Maryland. “

Separately, ValuEngine upgraded shares of Great Elm Capital from a sell rating to a hold rating in a report on Wednesday, May 1st.

GECC traded up $0.08 during trading on Wednesday, hitting $8.80. The stock had a trading volume of 54,411 shares, compared to its average volume of 69,628. The company has a market capitalization of $90.25 million, a PE ratio of 6.11 and a beta of 0.83. Great Elm Capital has a 12 month low of $7.47 and a 12 month high of $10.07. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.09 and a quick ratio of 0.20.

Great Elm Capital (NASDAQ:GECC) last announced its earnings results on Tuesday, May 14th. The financial services provider reported $0.26 EPS for the quarter, topping the consensus estimate of $0.24 by $0.02. The firm had revenue of $6.31 million for the quarter, compared to the consensus estimate of $6.71 million. Great Elm Capital had a net margin of 11.68% and a return on equity of 11.94%. Analysts anticipate that Great Elm Capital will post 1.02 earnings per share for the current year.

The company also recently announced a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $0.083 dividend. The ex-dividend date is Thursday, June 27th. This represents a $1.00 annualized dividend and a yield of 11.32%. Great Elm Capital’s dividend payout ratio (DPR) is presently 69.44%.

In other news, major shareholder Mast Capital Management, Llc sold 35,800 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $8.15, for a total transaction of $291,770.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 873,209 shares of company stock worth $7,270,744 in the last quarter. Insiders own 1.40% of the company’s stock.

Large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. bought a new position in shares of Great Elm Capital during the 1st quarter worth about $64,000. Stilwell Value LLC bought a new position in shares of Great Elm Capital during the 4th quarter worth about $141,000. Two Sigma Investments LP bought a new position in shares of Great Elm Capital during the 4th quarter worth about $155,000. Acadian Asset Management LLC increased its holdings in shares of Great Elm Capital by 30.1% during the 4th quarter. Acadian Asset Management LLC now owns 21,968 shares of the financial services provider’s stock worth $173,000 after purchasing an additional 5,083 shares during the period. Finally, B. Riley Financial Inc. bought a new position in shares of Great Elm Capital during the 4th quarter worth about $261,000. Institutional investors own 13.12% of the company’s stock.

Great Elm Capital Company Profile

Great Elm Capital Corporation is a business development company which specializes in loan and mezzanine, middle market investments. The fund prefers to invest in media, commercial services and supplies, healthcare, telecommunication services, communications equipment. It typically makes equity investments between $3 million and $10 million in companies with revenues between $3 million and $75 million.

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