Great Elm Capital (NASDAQ:GECC) Cut to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Great Elm Capital (NASDAQ:GECCGet Rating) from a buy rating to a hold rating in a research report report published on Wednesday morning, 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, TheStreet cut shares of Great Elm Capital from a c- rating to a d rating in a report on Wednesday, April 6th.

Shares of GECC opened at $12.48 on Wednesday. Great Elm Capital has a one year low of $12.28 and a one year high of $23.10. The company has a 50-day moving average of $14.17 and a two-hundred day moving average of $16.90. The stock has a market cap of $57.42 million, a price-to-earnings ratio of 7.35 and a beta of 1.71. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.15 and a quick ratio of 0.15.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Thursday, June 23rd will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 14.42%. The ex-dividend date is Wednesday, June 22nd.

In other news, Director Matthew A. Drapkin bought 7,336 shares of the firm’s stock in a transaction on Wednesday, May 25th. The stock was bought at an average cost of $12.41 per share, for a total transaction of $91,039.76. Following the completion of the acquisition, the director now directly owns 136,399 shares in the company, valued at approximately $1,692,711.59. The purchase was disclosed in a document filed with the SEC, which is available at this link. Over the last quarter, insiders acquired 8,953 shares of company stock valued at $114,110. Corporate insiders own 1.80% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Morgan Stanley boosted its holdings in shares of Great Elm Capital by 51.1% during the second quarter. Morgan Stanley now owns 419,711 shares of the financial services provider’s stock worth $1,473,000 after purchasing an additional 141,970 shares during the period. Meros Investment Management LP acquired a new stake in shares of Great Elm Capital during the fourth quarter worth approximately $769,000. Acadian Asset Management LLC boosted its holdings in shares of Great Elm Capital by 60.1% during the fourth quarter. Acadian Asset Management LLC now owns 50,354 shares of the financial services provider’s stock worth $154,000 after purchasing an additional 18,903 shares during the period. Clayton Partners LLC acquired a new stake in shares of Great Elm Capital during the first quarter worth approximately $367,000. Finally, Susquehanna International Group LLP acquired a new stake in shares of Great Elm Capital during the fourth quarter worth approximately $55,000. Institutional investors and hedge funds own 71.76% of the company’s stock.

Great Elm Capital Company Profile (Get Rating)

Great Elm Capital Corp. is a business development company which specializes in loan and mezzanine, middle market investments. It invests in the debt instruments of middle market companies. The fund prefers to invest in media, commercial services and supplies, healthcare, telecommunication services, communications equipment.

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