Great Elm Capital Corp (NASDAQ:GECC) was the recipient of a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 307,400 shares, an increase of 15.1% from the June 30th total of 267,100 shares. Based on an average daily trading volume, of 62,300 shares, the short-interest ratio is currently 4.9 days. Approximately 3.6% of the company’s shares are sold short.
NASDAQ:GECC traded down $0.17 during mid-day trading on Wednesday, reaching $8.02. 54,788 shares of the company’s stock traded hands, compared to its average volume of 60,163. Great Elm Capital has a 12-month low of $7.47 and a 12-month high of $10.07. The firm has a market cap of $82.96 million, a price-to-earnings ratio of 5.57 and a beta of 0.71. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.09 and a quick ratio of 0.09. The firm’s 50 day moving average is $8.62.
Great Elm Capital (NASDAQ:GECC) last announced its quarterly earnings results on Tuesday, August 13th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. Great Elm Capital had a return on equity of 11.94% and a net margin of 11.68%. The company had revenue of $6.71 million for the quarter, compared to the consensus estimate of $6.25 million. On average, research analysts expect that Great Elm Capital will post 1 earnings per share for the current fiscal year.
The company also recently disclosed a monthly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be given a dividend of $0.083 per share. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $1.00 annualized dividend and a yield of 12.42%. Great Elm Capital’s payout ratio is 69.44%.
In other Great Elm Capital news, insider Adam M. Kleinman purchased 10,000 shares of Great Elm Capital stock in a transaction that occurred on Tuesday, June 4th. The shares were bought at an average price of $8.50 per share, for a total transaction of $85,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Mast Capital Management, Llc sold 18,500 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $8.81, for a total value of $162,985.00. The disclosure for this sale can be found here. In the last quarter, insiders bought 15,143 shares of company stock worth $128,876 and sold 533,900 shares worth $4,617,307. 1.40% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of the business. Monarch Partners Asset Management LLC boosted its position in Great Elm Capital by 2.9% during the 2nd quarter. Monarch Partners Asset Management LLC now owns 60,751 shares of the financial services provider’s stock valued at $529,000 after acquiring an additional 1,724 shares in the last quarter. Morgan Stanley boosted its position in Great Elm Capital by 4.5% during the 2nd quarter. Morgan Stanley now owns 66,649 shares of the financial services provider’s stock valued at $580,000 after acquiring an additional 2,861 shares in the last quarter. Quantum Capital Management boosted its position in Great Elm Capital by 1.3% during the 1st quarter. Quantum Capital Management now owns 297,753 shares of the financial services provider’s stock valued at $2,459,000 after acquiring an additional 3,939 shares in the last quarter. Marshall Wace LLP bought a new stake in Great Elm Capital during the 2nd quarter valued at approximately $100,000. Finally, Two Sigma Investments LP bought a new stake in Great Elm Capital during the 4th quarter valued at approximately $155,000. 15.00% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently issued reports on the company. Zacks Investment Research downgraded Great Elm Capital from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. ValuEngine downgraded Great Elm Capital from a “hold” rating to a “sell” rating in a report on Thursday, August 1st.
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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