Great Elm Capital (NASDAQ:GECC) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Great Elm Capital (NASDAQ:GECC) from a sell rating to a hold rating in a research note published on Friday, 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 raised Great Elm Capital from a sell rating to a hold rating in a research note on Wednesday, October 2nd.

Shares of GECC traded up $0.13 during midday trading on Friday, hitting $7.89. The stock had a trading volume of 69,986 shares, compared to its average volume of 67,016. The company has a 50 day simple moving average of $8.07 and a two-hundred day simple moving average of $8.40. Great Elm Capital has a twelve month low of $7.47 and a twelve month high of $9.05. The firm has a market cap of $79.37 million, a price-to-earnings ratio of 5.48 and a beta of 0.69. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.08 and a quick ratio of 0.08.

Great Elm Capital (NASDAQ:GECC) last released its quarterly earnings results on Thursday, November 14th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.26. Great Elm Capital had a positive return on equity of 10.59% and a negative net margin of 68.41%. The firm had revenue of $7.00 million for the quarter, compared to the consensus estimate of $6.99 million. Analysts forecast that Great Elm Capital will post 1.07 EPS for the current fiscal year.

The company also recently declared a monthly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a $0.083 dividend. This represents a $1.00 annualized dividend and a dividend yield of 12.62%. The ex-dividend date of this dividend is Monday, March 30th. Great Elm Capital’s dividend payout ratio is 69.44%.

In other news, insider Adam M. Kleinman purchased 7,500 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were purchased at an average price of $7.90 per share, with a total value of $59,250.00. Following the purchase, the insider now directly owns 33,219 shares of the company’s stock, valued at approximately $262,430.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael C. Speller purchased 5,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was purchased at an average cost of $7.80 per share, for a total transaction of $39,000.00. Following the purchase, the director now directly owns 16,000 shares in the company, valued at $124,800. The disclosure for this purchase can be found here. Company insiders own 1.40% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP bought a new position in shares of Great Elm Capital in the 2nd quarter valued at about $100,000. Virtu Financial LLC bought a new position in shares of Great Elm Capital in the 3rd quarter valued at about $95,000. Squarepoint Ops LLC grew its holdings in shares of Great Elm Capital by 9.5% in the 3rd quarter. Squarepoint Ops LLC now owns 17,769 shares of the financial services provider’s stock valued at $146,000 after acquiring an additional 1,549 shares in the last quarter. Monarch Partners Asset Management LLC grew its holdings in shares of Great Elm Capital by 2.9% in 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. Finally, Morgan Stanley grew its holdings in shares of Great Elm Capital by 4.5% in 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. 17.19% of the stock is currently owned by hedge funds and other institutional investors.

About Great Elm Capital

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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