Zacks Investment Research cut shares of Great Elm Capital (NASDAQ:GECC) from a buy rating to a hold rating in a report published on Wednesday morning.
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. “
Get Great Elm Capital alerts:A number of other brokerages have also weighed in on GECC. ValuEngine lowered shares of Great Elm Capital from a hold rating to a sell rating in a report on Saturday, June 2nd. LADENBURG THALM/SH SH started coverage on shares of Great Elm Capital in a report on Thursday, March 15th. They set a neutral rating for the company.
Shares of GECC opened at $9.30 on Wednesday. The company has a market capitalization of $98.96 million, a PE ratio of 6.12 and a beta of 0.52. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.22 and a quick ratio of 0.22. Great Elm Capital has a fifty-two week low of $8.76 and a fifty-two week high of $11.30.
Great Elm Capital (NASDAQ:GECC) last announced its quarterly earnings data on Wednesday, May 9th. The financial services provider reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.03. The firm had revenue of $7.50 million during the quarter, compared to analyst estimates of $6.75 million. Great Elm Capital had a negative net margin of 34.01% and a positive return on equity of 12.75%. equities research analysts expect that Great Elm Capital will post 1.16 earnings per share for the current year.
The business also recently disclosed a monthly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be issued a $0.083 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $1.00 annualized dividend and a yield of 10.71%. Great Elm Capital’s dividend payout ratio (DPR) is presently 65.79%.
In other Great Elm Capital news, major shareholder Mast Capital Management, Llc sold 6,500 shares of the company’s stock in a transaction on Friday, April 27th. The shares were sold at an average price of $9.25, for a total value of $60,125.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.27% of the stock is currently owned by corporate insiders.
A hedge fund recently raised its stake in Great Elm Capital stock. Quantum Capital Management lifted its holdings in Great Elm Capital Corp (NASDAQ:GECC) by 117.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,791 shares of the financial services provider’s stock after buying an additional 68,993 shares during the quarter. Quantum Capital Management owned approximately 1.20% of Great Elm Capital worth $1,178,000 as of its most recent SEC filing. Institutional investors own 8.05% of the company’s stock.
About Great Elm Capital
Great Elm Capital Corp. is a closed-end, non-diversified management investment company. The Company is focused on generating interest and capital appreciation by investing in the capital structures of middle-market companies that operate in a range of industries. The Company also focuses on making multi-year investments, primarily in secured and senior unsecured debt instruments that it purchases in the secondary markets, though it may also originate investments or acquire them directly from issuers.
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