Great Elm Capital (GECC) Cut to “Sell” at Zacks Investment Research

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Zacks Investment Research downgraded shares of Great Elm Capital (NASDAQ:GECC) from a hold rating to a sell rating in a report issued on Monday 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. “

NASDAQ:GECC opened at $8.29 on Monday. The firm has a market cap of $88.52 million, a PE ratio of 5.81 and a beta of 0.81. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.20 and a quick ratio of 0.20. Great Elm Capital has a 52-week low of $7.47 and a 52-week high of $10.07.

Great Elm Capital (NASDAQ:GECC) last released its quarterly earnings results on Wednesday, March 13th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.02). The firm had revenue of $6.91 million for the quarter, compared to analyst estimates of $6.57 million. Great Elm Capital had a positive return on equity of 12.54% and a negative net margin of 32.44%. On average, analysts expect that Great Elm Capital will post 1.02 EPS for the current fiscal year.

The company also recently declared a monthly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 28th were paid a dividend of $0.083 per share. This represents a $1.00 annualized dividend and a dividend yield of 12.01%. The ex-dividend date was Wednesday, February 27th. Great Elm Capital’s dividend payout ratio (DPR) is presently 69.44%.

In other news, major shareholder Mast Capital Management, Llc sold 32,309 shares of Great Elm Capital stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $8.19, for a total transaction of $264,610.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 547,698 shares of company stock valued at $4,460,535 in the last ninety days. Corporate insiders own 0.27% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC increased its position in Great Elm Capital by 30.1% during the 4th quarter. Acadian Asset Management LLC now owns 21,968 shares of the financial services provider’s stock worth $173,000 after purchasing an additional 5,083 shares in the last quarter. Stilwell Value LLC purchased a new stake in Great Elm Capital during the 4th quarter worth about $141,000. Two Sigma Investments LP purchased a new stake in Great Elm Capital during the 4th quarter worth about $155,000. B. Riley Financial Inc. purchased a new stake in Great Elm Capital during the 4th quarter worth about $261,000. Finally, Monarch Partners Asset Management LLC purchased a new stake in Great Elm Capital during the 4th quarter worth about $365,000. 13.01% of the stock is owned by institutional investors and hedge funds.

Great Elm Capital Company Profile

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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