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

Great Elm Capital Corp. (NASDAQ:GECC - Get Free Report) Director Richard M. Cohen acquired 3,500 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The shares were bought 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 $111,300. This represents a 53.85% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Great Elm Capital Stock Performance

Shares of NASDAQ GECC traded down $0.14 during midday trading on Thursday, reaching $10.96. The company had a trading volume of 25,184 shares, compared to its average volume of 20,751. The stock has a market cap of $126.52 million, a P/E ratio of 15.88 and a beta of 1.09. 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 Corp. has a 1 year low of $8.87 and a 1 year high of $11.48. The business's 50-day simple moving average is $10.31 and its 200 day simple moving average is $10.46.

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

Great Elm Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $0.37 dividend. 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 13.50%. Great Elm Capital's payout ratio is currently 370.00%.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Northern Right Capital Management L.P. boosted its holdings in Great Elm Capital by 29.7% in the fourth quarter. Northern Right Capital Management L.P. now owns 1,035,838 shares of the financial services provider's stock valued at $11,384,000 after purchasing an additional 237,367 shares during the last quarter. Ethos Financial Group LLC acquired a new position in shares of Great Elm Capital in the 1st quarter valued at about $268,000. Northern Trust Corp acquired a new position in shares of Great Elm Capital in the 4th quarter valued at about $187,000. Virtu Financial LLC purchased a new stake in shares of Great Elm Capital in the fourth quarter worth about $176,000. Finally, Two Sigma Securities LLC acquired a new stake in Great Elm Capital during the fourth quarter worth about $129,000. Hedge funds and other institutional investors own 38.75% of the company's stock.

Great Elm Capital Company Profile

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.