Great Elm Capital Group (NASDAQ:GECC) Announces Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Great Elm Capital Group (NASDAQ:GECC) issued its quarterly earnings data on Monday. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.13, Zacks reports. The firm had revenue of ($1.91) million for the quarter, compared to analyst estimates of $10.74 million. Great Elm Capital Group had a negative net margin of 63.59% and a positive return on equity of 13.19%.

Great Elm Capital Group Trading Up 1.9%

NASDAQ GECC traded up $0.11 during trading on Tuesday, hitting $5.64. The stock had a trading volume of 73,597 shares, compared to its average volume of 81,687. The company has a market capitalization of $78.28 million, a PE ratio of -2.45 and a beta of 0.72. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 1.68. The firm has a 50 day moving average price of $5.43 and a 200 day moving average price of $6.61. Great Elm Capital Group has a twelve month low of $4.63 and a twelve month high of $11.45.

Great Elm Capital Group Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 17.7%. The ex-dividend date of this dividend is Monday, June 15th. Great Elm Capital Group’s payout ratio is currently -52.17%.

Hedge Funds Weigh In On Great Elm Capital Group

Institutional investors have recently bought and sold shares of the company. Virtu Financial LLC acquired a new position in Great Elm Capital Group in the 3rd quarter valued at about $160,000. Jane Street Group LLC acquired a new position in Great Elm Capital Group in the 4th quarter valued at about $220,000. Squarepoint Ops LLC grew its position in Great Elm Capital Group by 247.9% in the 4th quarter. Squarepoint Ops LLC now owns 106,079 shares of the financial services provider’s stock valued at $747,000 after acquiring an additional 75,588 shares in the last quarter. Papamarkou Wellner Asset Management inc. grew its position in Great Elm Capital Group by 54.9% in the 4th quarter. Papamarkou Wellner Asset Management inc. now owns 30,200 shares of the financial services provider’s stock valued at $213,000 after acquiring an additional 10,700 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new position in Great Elm Capital Group in the 3rd quarter valued at about $169,000. 38.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GECC. Clear Str lowered shares of Great Elm Capital Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Zacks Research lowered shares of Great Elm Capital Group from a “hold” rating to a “strong sell” rating in a report on Thursday, March 5th. Two equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $10.50.

About Great Elm Capital Group

Great Elm Capital Group, Inc (NASDAQ: GECC) is a closed-end, externally managed business development company (BDC) that seeks to generate current income and capital appreciation by investing in private, middle-market companies. The firm targets senior secured loans, subordinated debt and equity securities of U.S. companies, with a focus on businesses offering stable cash flows and potential for growth. Industry sectors of interest include business services, consumer products, industrials and healthcare, among others.

GECC’s investment strategy emphasizes portfolio diversification and active management.