GREAT ELM CAP C (GECC) Downgraded by Zacks Investment Research
Zacks Investment Research cut shares of GREAT ELM CAP C (NASDAQ:GECC) from a buy rating to a hold rating in a report published on Tuesday.
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. “
Other research analysts have also issued research reports about the company. CIBC assumed coverage on GREAT ELM CAP C in a research report on Wednesday, June 28th. They set an outperform rating and a $14.00 target price for the company. Oppenheimer Holdings, Inc. assumed coverage on GREAT ELM CAP C in a research report on Wednesday, June 28th. They set an outperform rating and a $14.00 target price for the company.
GREAT ELM CAP C (GECC) traded down 1.47% on Tuesday, reaching $10.70. The company’s stock had a trading volume of 22,719 shares. GREAT ELM CAP C has a one year low of $10.61 and a one year high of $11.82. The firm has a 50-day moving average of $10.87 and a 200-day moving average of $11.02.
GREAT ELM CAP C (NASDAQ:GECC) last announced its earnings results on Monday, August 14th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.09. The business had revenue of $6.24 million for the quarter, compared to analysts’ expectations of $5.20 million.
The firm 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 annualized dividend and a dividend yield of 9.31%.
Several large investors have recently made changes to their positions in GECC. Moloney Securities Asset Management LLC purchased a new position in shares of GREAT ELM CAP C during the second quarter valued at approximately $112,000. Cambridge Investment Research Advisors Inc. boosted its position in shares of GREAT ELM CAP C by 1.7% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 50,669 shares of the financial services provider’s stock valued at $538,000 after buying an additional 871 shares during the period. GRT Capital Partners L.L.C. purchased a new position in shares of GREAT ELM CAP C during the second quarter valued at approximately $237,000. Finally, Royal Bank of Canada purchased a new position in shares of GREAT ELM CAP C during the second quarter valued at approximately $512,000. Institutional investors and hedge funds own 8.90% of the company’s stock.
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