Insider Buying: Great Elm Capital Corp. (NASDAQ:GECC) Director Acquires 3,500 Shares of Stock

Great Elm Capital Corp. (NASDAQ:GECC - Get Free Report) Director Richard M. Cohen purchased 3,500 shares of the company's stock in a transaction dated Tuesday, June 10th. The stock was purchased at an average cost of $11.13 per share, for a total transaction of $38,955.00. Following the transaction, the director now owns 10,000 shares of the company's stock, valued at approximately $111,300. This trade represents a 53.85% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Great Elm Capital Price Performance

NASDAQ GECC traded up $0.06 on Friday, reaching $11.05. The company's stock had a trading volume of 45,885 shares, compared to its average volume of 20,728. The firm has a market cap of $127.56 million, a PE ratio of 16.01 and a beta of 1.09. The business has a 50-day moving average price of $10.38 and a 200 day moving average price of $10.48. Great Elm Capital Corp. has a 52 week low of $8.87 and a 52 week high of $11.39. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 1.83.

Great Elm Capital (NASDAQ:GECC - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The financial services provider reported $0.40 EPS for the quarter, beating analysts' consensus estimates of $0.39 by $0.01. The firm had revenue of $7.97 million for the quarter, compared to analyst estimates of $12.11 million. Great Elm Capital had a net margin of 15.00% and a return on equity of 11.60%. Sell-side analysts expect that Great Elm Capital Corp. will post 1.43 EPS for the current year.

Great Elm Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 13.39%. Great Elm Capital's payout ratio is 370.00%.

Institutional Investors Weigh In On Great Elm Capital

A number of institutional investors and hedge funds have recently modified their holdings of the business. Northern Right Capital Management L.P. raised its stake in shares of Great Elm Capital by 29.7% during the fourth quarter. Northern Right Capital Management L.P. now owns 1,035,838 shares of the financial services provider's stock worth $11,384,000 after buying an additional 237,367 shares during the last quarter. Ethos Financial Group LLC bought a new stake in shares of Great Elm Capital during the first quarter worth approximately $268,000. Northern Trust Corp bought a new stake in shares of Great Elm Capital during the fourth quarter worth approximately $187,000. Virtu Financial LLC bought a new stake in Great Elm Capital in the fourth quarter valued at approximately $176,000. Finally, Two Sigma Securities LLC bought a new stake in Great Elm Capital in the fourth quarter valued at approximately $129,000. 38.75% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Great Elm Capital from a "buy" rating to a "hold" rating in a report on Saturday, May 31st.

About Great Elm Capital

Great Elm Capital Corp. is a business development company which specializes in loan and mezzanine, middle market investments. It invests in the debt instruments of middle market companies. The fund prefers to invest in media, commercial services and supplies, healthcare, telecommunication services, communications equipment.