Great Elm Capital Group (NASDAQ:GECC) Share Price Passes Below 50 Day Moving Average – Here’s What Happened

Shares of Great Elm Capital Group, Inc. (NASDAQ:GECC) passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $5.72 and traded as low as $5.38. Great Elm Capital Group shares last traded at $5.47, with a volume of 146,156 shares traded.

Wall Street Analyst Weigh In

GECC has been the topic of several research analyst reports. Zacks Research raised Great Elm Capital Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 2nd. Clear Str cut shares of Great Elm Capital Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Great Elm Capital Group in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Great Elm Capital Group presently has an average rating of “Hold” and an average target price of $10.50.

Great Elm Capital Group Price Performance

The company has a market capitalization of $75.99 million, a P/E ratio of -2.29 and a beta of 0.75. The company has a 50-day moving average of $5.73 and a two-hundred day moving average of $6.21. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.57.

Great Elm Capital Group (NASDAQ:GECC) last posted its quarterly earnings data on Monday, May 4th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. The business had revenue of ($1.91) million during the quarter, compared to the consensus estimate of $10.74 million. Great Elm Capital Group had a positive return on equity of 14.16% and a negative net margin of 70.13%. On average, research analysts predict that Great Elm Capital Group, Inc. will post 1.1 EPS for the current year.

Great Elm Capital Group Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 18.3%. The ex-dividend date is Monday, June 15th. Great Elm Capital Group’s dividend payout ratio (DPR) is presently -41.84%.

Institutional Investors Weigh In On Great Elm Capital Group

Hedge funds have recently bought and sold shares of the business. Squarepoint Ops LLC increased its stake in shares of Great Elm Capital Group by 247.9% during the fourth quarter. Squarepoint Ops LLC now owns 106,079 shares of the financial services provider’s stock valued at $747,000 after purchasing an additional 75,588 shares in the last quarter. Granby Capital Management LLC bought a new stake in shares of Great Elm Capital Group in the 4th quarter worth approximately $352,000. Jane Street Group LLC purchased a new stake in shares of Great Elm Capital Group in the 4th quarter worth approximately $220,000. TrueMark Investments LLC purchased a new stake in shares of Great Elm Capital Group in the 4th quarter worth approximately $148,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in Great Elm Capital Group during the 3rd quarter valued at approximately $169,000. Institutional investors own 38.75% of the company’s stock.

About Great Elm Capital Group

Great Elm Capital Group, Inc (NASDAQ: GECC) is a closed-end, externally managed business development company (BDC) that seeks to generate current income and capital appreciation by investing in private, middle-market companies. The firm targets senior secured loans, subordinated debt and equity securities of U.S. companies, with a focus on businesses offering stable cash flows and potential for growth. Industry sectors of interest include business services, consumer products, industrials and healthcare, among others.

GECC’s investment strategy emphasizes portfolio diversification and active management.