Great Elm Capital Corp (NASDAQ:GECC) was the target of a significant increase in short interest in June. As of June 30th, there was short interest totalling 231,500 shares, an increase of 6.8% from the May 30th total of 216,700 shares. Based on an average daily volume of 66,100 shares, the days-to-cover ratio is presently 3.5 days. Approximately 2.7% of the shares of the stock are short sold.
In other Great Elm Capital news, insider Peter A. Reed bought 3,143 shares of the stock in a transaction on Thursday, June 6th. The stock was purchased at an average price of $8.50 per share, with a total value of $26,715.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Mast Capital Management, Llc sold 21,100 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $8.88, for a total value of $187,368.00. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 15,143 shares of company stock valued at $128,876 and sold 627,800 shares valued at $5,403,820. 1.40% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the company. Two Sigma Investments LP bought a new stake in shares of Great Elm Capital during the fourth quarter worth about $155,000. Monarch Partners Asset Management LLC grew its holdings in shares of Great Elm Capital by 27.0% during the first quarter. Monarch Partners Asset Management LLC now owns 59,027 shares of the financial services provider’s stock worth $488,000 after purchasing an additional 12,541 shares during the last quarter. Thomas J. Herzfeld Advisors Inc. bought a new stake in shares of Great Elm Capital during the first quarter worth about $1,247,000. Quantum Capital Management grew its holdings in shares of Great Elm Capital by 1.3% during the first quarter. Quantum Capital Management now owns 297,753 shares of the financial services provider’s stock worth $2,459,000 after purchasing an additional 3,939 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. grew its holdings in shares of Great Elm Capital by 35.0% during the first quarter. Punch & Associates Investment Management Inc. now owns 476,495 shares of the financial services provider’s stock worth $3,936,000 after purchasing an additional 123,595 shares during the last quarter. Institutional investors own 15.22% of the company’s stock.
Shares of NASDAQ GECC opened at $8.61 on Wednesday. The firm has a market capitalization of $88.98 million, a P/E ratio of 5.98 and a beta of 0.71. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.09 and a current ratio of 0.09. The business’s 50-day simple moving average is $8.71. Great Elm Capital has a 12 month low of $7.47 and a 12 month high of $10.07.
Great Elm Capital (NASDAQ:GECC) last released its quarterly earnings results on Tuesday, May 14th. The financial services provider reported $0.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.02. The company had revenue of $6.31 million for the quarter, compared to analysts’ expectations of $6.71 million. Great Elm Capital had a return on equity of 11.94% and a net margin of 11.68%. As a group, equities research analysts forecast that Great Elm Capital will post 1 EPS for the current year.
The company also recently declared a monthly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be issued a dividend of $0.083 per share. This represents a $1.00 annualized dividend and a dividend yield of 11.57%. The ex-dividend date of this dividend is Tuesday, July 30th. Great Elm Capital’s dividend payout ratio (DPR) is currently 69.44%.
GECC has been the subject of several research analyst reports. ValuEngine downgraded Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Zacks Investment Research downgraded Horiba from a “hold” rating to a “sell” rating in a research note on Wednesday, May 22nd.
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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