Great Elm Capital Group (NASDAQ:GECC) Share Price Passes Above Fifty Day Moving Average – Here’s What Happened

Great Elm Capital Group, Inc. (NASDAQ:GECC) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $5.51 and traded as high as $6.25. Great Elm Capital Group shares last traded at $6.11, with a volume of 94,802 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GECC. Zacks Research cut Great Elm Capital Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Weiss Ratings reissued a “sell (d)” rating on shares of Great Elm Capital Group in a report on Thursday, June 4th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Great Elm Capital Group presently has an average rating of “Reduce” and a consensus price target of $10.50.

Great Elm Capital Group Trading Down 2.1%

The business has a fifty day simple moving average of $5.52 and a 200 day simple moving average of $5.63. The stock has a market cap of $81.62 million, a price-to-earnings ratio of -2.00 and a beta of 0.77. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.93 and a current ratio of 0.93.

Great Elm Capital Group (NASDAQ:GECC) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). Great Elm Capital Group had a positive return on equity of 13.87% and a negative net margin of 87.74%.The company had revenue of $14.74 million for the quarter, compared to analysts’ expectations of $11.32 million. As a group, equities analysts anticipate that Great Elm Capital Group, Inc. will post 1.1 EPS for the current year.

Great Elm Capital Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 17.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Great Elm Capital Group’s payout ratio is currently -33.90%.

Institutional Trading of Great Elm Capital Group

A number of hedge funds have recently bought and sold shares of GECC. Rangeley Capital LLC acquired a new position in Great Elm Capital Group in the 1st quarter valued at $50,000. Rockefeller Capital Management L.P. acquired a new stake in shares of Great Elm Capital Group during the fourth quarter worth $70,000. Kestra Private Wealth Services LLC purchased a new stake in shares of Great Elm Capital Group in the third quarter valued at $145,000. Virtu Financial LLC purchased a new stake in shares of Great Elm Capital Group in the third quarter valued at $160,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in Great Elm Capital Group in the third quarter valued at $169,000. Institutional investors and hedge funds own 38.75% of the company’s stock.

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.