Great Elm Capital (GECC) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS
Great Elm Capital (NASDAQ:GECC) announced its quarterly earnings results on Tuesday. The financial services provider reported $0.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.03), Fidelity Earnings reports. The firm had revenue of $6.18 million during the quarter, compared to the consensus estimate of $6.96 million. Great Elm Capital had a negative net margin of 16.40% and a positive return on equity of 15.45%.
Shares of NASDAQ GECC opened at $7.99 on Thursday. The company has a market capitalization of $87.14 million, a P/E ratio of 5.26 and a beta of 1.21. Great Elm Capital has a 52 week low of $7.76 and a 52 week high of $10.44. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.09 and a quick ratio of 0.09.
In related news, major shareholder Mast Capital Management, Llc sold 2,276,279 shares of the business’s stock in a transaction that occurred on Monday, October 22nd. The stock was sold at an average price of $7.55, for a total value of $17,185,906.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.27% of the company’s stock.
Separately, Zacks Investment Research raised Great Elm Capital from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Wednesday, August 15th.
Great Elm Capital Company Profile
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.
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