Great Elm Capital (NASDAQ:GECC) issued its earnings results on Tuesday. The financial services provider reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03, Morningstar.com reports. Great Elm Capital had a positive return on equity of 9.52% and a negative net margin of 15.02%. The company had revenue of $6.71 million for the quarter, compared to analyst estimates of $6.25 million.
NASDAQ GECC opened at $8.06 on Friday. The firm has a market capitalization of $83.34 million, a P/E ratio of 5.60 and a beta of 0.71. The business has a fifty day simple moving average of $8.60 and a 200 day simple moving average of $8.49. Great Elm Capital has a 12 month low of $7.47 and a 12 month high of $10.07. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.67.
The business also recently declared a monthly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were given a $0.083 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 12.36%. The ex-dividend date was Tuesday, July 30th. Great Elm Capital’s payout ratio is currently 69.44%.
In related news, insider Peter A. Reed purchased 3,143 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was acquired at an average cost of $8.50 per share, with a total value of $26,715.50. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Mast Capital Management, Llc sold 21,100 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $8.88, for a total value of $187,368.00. The disclosure for this sale can be found here. Over the last three months, insiders purchased 15,143 shares of company stock valued at $128,876 and sold 384,900 shares valued at $3,323,987. Corporate insiders own 1.40% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP purchased a new stake in shares of Great Elm Capital during the 2nd quarter valued at $100,000. Two Sigma Investments LP purchased a new stake in shares of Great Elm Capital during the 4th quarter valued at $155,000. Monarch Partners Asset Management LLC increased its position in shares of Great Elm Capital by 27.0% during the 1st quarter. Monarch Partners Asset Management LLC now owns 59,027 shares of the financial services provider’s stock valued at $488,000 after purchasing an additional 12,541 shares during the last quarter. Morgan Stanley increased its position in shares of Great Elm Capital by 4.5% during the 2nd quarter. Morgan Stanley now owns 66,649 shares of the financial services provider’s stock valued at $580,000 after purchasing an additional 2,861 shares during the last quarter. Finally, Thomas J. Herzfeld Advisors Inc. purchased a new stake in shares of Great Elm Capital during the 1st quarter valued at $1,247,000. 15.00% of the stock is owned by institutional investors and hedge funds.
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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