Great Elm Capital (NASDAQ:GECC) Downgraded to “Sell” at Zacks Investment Research

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

Great Elm Capital stock traded down $0.18 during mid-day trading on Tuesday, reaching $7.78. 2,941 shares of the company were exchanged, compared to its average volume of 56,063. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.08 and a current ratio of 0.08. The firm has a market cap of $81.81 million, a P/E ratio of 5.41 and a beta of 0.74. The business has a fifty day moving average of $8.28 and a 200 day moving average of $8.50. Great Elm Capital has a 12-month low of $7.47 and a 12-month high of $9.05.

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

The company also recently declared a — dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.083 dividend. This represents a dividend yield of 12.1%. The ex-dividend date is Monday, December 30th. Great Elm Capital’s dividend payout ratio is currently 69.44%.

Several hedge funds and other institutional investors have recently bought and sold shares of GECC. Monarch Partners Asset Management LLC lifted its position in Great Elm Capital by 2.9% during the second 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 during the last quarter. Morgan Stanley grew its holdings in Great Elm Capital by 4.5% in the second quarter. Morgan Stanley now owns 66,649 shares of the financial services provider’s stock worth $580,000 after purchasing an additional 2,861 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Great Elm Capital during the second quarter worth $100,000. Hedge funds and other institutional investors own 16.17% of the company’s stock.

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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