Great Elm Capital Corp Declares — Dividend of $0.08 (NASDAQ:GECC)

Posted by Jim Brewer on Nov 26th, 2019

Great Elm Capital Corp (NASDAQ:GECC) announced a — dividend on Friday, September 27th, Wall Street Journal reports. Shareholders of record on Friday, November 29th will be given a dividend of 0.083 per share by the financial services provider on Friday, December 13th. This represents a yield of 11.7%. The ex-dividend date of this dividend is Wednesday, November 27th.

Shares of GECC stock opened at $7.86 on Tuesday. The company has a market capitalization of $78.79 million, a PE ratio of 7.39 and a beta of 0.74. The firm has a fifty day simple moving average of $8.24 and a 200-day simple moving average of $8.48. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 1.31. Great Elm Capital has a twelve month low of $7.47 and a twelve month high of $9.05.

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

In other news, Director Michael C. Speller bought 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was acquired at an average cost of $7.80 per share, for a total transaction of $39,000.00. Following the completion of the purchase, the director now owns 16,000 shares of the company’s stock, valued at $124,800. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Adam M. Kleinman bought 7,500 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was purchased at an average price of $7.90 per share, with a total value of $59,250.00. Following the completion of the purchase, the insider now directly owns 33,219 shares of the company’s stock, valued at approximately $262,430.10. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by corporate insiders.

Several brokerages have recently weighed in on GECC. Zacks Investment Research downgraded shares of Great Elm Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. ValuEngine upgraded shares of Great Elm Capital from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd.

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.

Great Elm Capital Corp Declares — Dividend of $0.08 (NASDAQ:GECC)

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