GREAT ELM CAP C (GECC) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of GREAT ELM CAP C (NASDAQ:GECC) from a hold rating to a buy rating in a research note issued to investors on Wednesday. Zacks Investment Research currently has $12.00 price target on the financial services provider’s stock.
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. “
GECC has been the topic of several other reports. Oppenheimer Holdings, Inc. initiated coverage on GREAT ELM CAP C in a research note on Wednesday, June 28th. They set an outperform rating and a $14.00 price target on the stock. CIBC initiated coverage on GREAT ELM CAP C in a research note on Wednesday, June 28th. They set an outperform rating and a $14.00 price target on the stock.
GREAT ELM CAP C (NASDAQ GECC) traded down 1.47% on Wednesday, reaching $10.70. The company’s stock had a trading volume of 22,719 shares. The stock’s 50 day moving average is $10.87 and its 200-day moving average is $11.02. GREAT ELM CAP C has a 52 week low of $10.61 and a 52 week high of $11.82.
GREAT ELM CAP C (NASDAQ:GECC) last posted its quarterly earnings data on Monday, August 14th. The financial services provider reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.09. The business had revenue of $6.24 million during the quarter, compared to the consensus estimate of $5.20 million.
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The company also recently declared a monthly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be paid a dividend of $0.083 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.00 annualized dividend and a yield of 9.31%.
Institutional investors and hedge funds have recently modified their holdings of the stock. Moloney Securities Asset Management LLC bought a new position in GREAT ELM CAP C during the second quarter valued at about $112,000. Cambridge Investment Research Advisors Inc. increased its stake in 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 acquiring an additional 871 shares during the period. Royal Bank of Canada bought a new position in GREAT ELM CAP C during the second quarter valued at about $512,000. Finally, GRT Capital Partners L.L.C. bought a new position in GREAT ELM CAP C during the second quarter valued at about $237,000. Hedge funds and other institutional investors own 8.90% of the company’s stock.
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