GREAT ELM CAP C (GECC) Posts Quarterly Earnings Results, Beats Expectations By $0.09 EPS
GREAT ELM CAP C (NASDAQ:GECC) announced its quarterly earnings results on Monday. The financial services provider reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.09, Morningstar.com reports. The firm had revenue of $6.24 million during the quarter, compared to the consensus estimate of $5.20 million.
Shares of GREAT ELM CAP C (GECC) opened at 10.77 on Wednesday. The firm’s 50-day moving average price is $10.70 and its 200-day moving average price is $10.89. GREAT ELM CAP C has a 12 month low of $10.25 and a 12 month high of $12.37.
The business also recently announced a monthly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be given a dividend of $0.083 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.00 dividend on an annualized basis and a yield of 9.25%.
Several equities research analysts recently commented on GECC shares. Oppenheimer Holdings, Inc. started coverage on GREAT ELM CAP C in a research note on Wednesday, June 28th. They issued an “outperform” rating and a $14.00 price target for the company. CIBC started coverage on GREAT ELM CAP C in a research note on Wednesday, June 28th. They issued an “outperform” rating and a $14.00 price target for the company.
Large investors have recently made changes to their positions in the stock. Royal Bank of Canada purchased a new stake in shares of GREAT ELM CAP C during the second quarter worth about $512,000. GRT Capital Partners L.L.C. bought a new position in GREAT ELM CAP C during the second quarter worth $237,000. Cambridge Investment Research Advisors Inc. increased its position in GREAT ELM CAP C by 1.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 50,669 shares of the financial services provider’s stock worth $538,000 after buying an additional 871 shares in the last quarter. Finally, Moloney Securities Asset Management LLC bought a new position in GREAT ELM CAP C during the second quarter worth $112,000. 8.88% of the stock is currently owned by institutional investors and hedge funds.
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