Great Elm Capital (GECC) Posts Earnings Results, Misses Expectations By $0.02 EPS

Great Elm Capital (NASDAQ:GECC) issued its quarterly earnings results on Wednesday. The financial services provider reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.02), MarketWatch Earnings reports. Great Elm Capital had a return on equity of 14.91% and a net margin of 27.93%. The firm had revenue of $6.91 million for the quarter, compared to the consensus estimate of $6.57 million.

GECC stock opened at $8.13 on Friday. The company has a market cap of $87.67 million, a P/E ratio of 5.35 and a beta of 0.81. Great Elm Capital has a 1 year low of $7.47 and a 1 year high of $10.07. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.60.

The business also recently disclosed a monthly dividend, which was paid on Friday, February 15th. Investors of record on Thursday, January 31st were given a dividend of $0.083 per share. This represents a $1.00 dividend on an annualized basis and a yield of 12.25%. The ex-dividend date was Wednesday, January 30th. Great Elm Capital’s dividend payout ratio is 65.79%.

In related news, major shareholder Mast Capital Management, Llc sold 7,100 shares of the company’s stock in a transaction that occurred on Friday, January 11th. The shares were sold at an average price of $7.95, for a total transaction of $56,445.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 515,389 shares of company stock valued at $4,195,924. 0.27% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC increased its position in Great Elm Capital by 103.3% during the 3rd quarter. Acadian Asset Management LLC now owns 16,885 shares of the financial services provider’s stock worth $164,000 after purchasing an additional 8,578 shares in the last quarter. Stilwell Value LLC acquired a new position in Great Elm Capital during the 4th quarter worth approximately $141,000. Two Sigma Investments LP acquired a new position in Great Elm Capital in the 4th quarter valued at approximately $155,000. B. Riley Financial Inc. acquired a new position in Great Elm Capital in the 4th quarter valued at approximately $261,000. Finally, Monarch Partners Asset Management LLC acquired a new position in Great Elm Capital in the 4th quarter valued at approximately $365,000. Institutional investors and hedge funds own 13.01% of the company’s stock.

Separately, Zacks Investment Research upgraded shares of Great Elm Capital from a “hold” rating to a “buy” rating and set a $9.00 price objective for the company in a research report on Monday, February 4th.

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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.

Read More: Net Margin

Earnings History for Great Elm Capital (NASDAQ:GECC)

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