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

Great Elm Capital (NASDAQ:GECC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday, 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 shares of Great Elm Capital from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd.

Shares of GECC stock traded down $0.01 during mid-day trading on Wednesday, reaching $7.90. The company’s stock had a trading volume of 34,588 shares, compared to its average volume of 43,939. Great Elm Capital has a 1-year low of $7.50 and a 1-year high of $9.05. The company has a market cap of $78.79 million, a P/E ratio of 5.49 and a beta of 0.69. 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’s 50-day moving average is $7.89 and its two-hundred day moving average is $8.26.

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

In other news, insider Adam M. Kleinman bought 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was acquired at an average price of $7.90 per share, for a total transaction of $59,250.00. Following the transaction, the insider now directly owns 33,219 shares of the company’s stock, valued at approximately $262,430.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael C. Speller bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were purchased at an average price of $7.80 per share, with a total value of $39,000.00. Following the transaction, the director now directly owns 16,000 shares in the company, valued at $124,800. The disclosure for this purchase can be found here. Corporate insiders own 1.40% of the company’s stock.

Several institutional investors have recently made changes to their positions in GECC. Monarch Partners Asset Management LLC increased its position in shares of Great Elm Capital by 25.6% during the 3rd quarter. Monarch Partners Asset Management LLC now owns 76,316 shares of the financial services provider’s stock worth $626,000 after purchasing an additional 15,565 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Great Elm Capital during the 3rd quarter worth about $95,000. Marshall Wace LLP acquired a new stake in shares of Great Elm Capital during the 2nd quarter worth about $100,000. 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 worth $580,000 after purchasing an additional 2,861 shares in the last quarter. Finally, Squarepoint Ops LLC increased its position in shares of Great Elm Capital by 9.5% during the 3rd quarter. Squarepoint Ops LLC now owns 17,769 shares of the financial services provider’s stock worth $146,000 after purchasing an additional 1,549 shares in the last quarter. Institutional investors and hedge funds own 17.19% 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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