Great Elm Capital (NASDAQ:GECC) Stock Price Passes Below 50-Day Moving Average – Here’s Why

Great Elm Capital Corp. (NASDAQ:GECC)’s share price passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $10.70 and traded as low as $10.01. Great Elm Capital shares last traded at $10.40, with a volume of 25,279 shares changing hands.

Great Elm Capital Stock Performance

The company has a market cap of $120.06 million, a P/E ratio of 15.07 and a beta of 1.52. The company has a 50 day moving average price of $10.70 and a 200-day moving average price of $10.39. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 1.83.

Great Elm Capital (NASDAQ:GECC) last released its quarterly earnings results on Monday, March 10th. The financial services provider reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.15). The company had revenue of $9.10 million for the quarter, compared to the consensus estimate of $11.46 million. Great Elm Capital had a return on equity of 11.60% and a net margin of 15.00%. During the same quarter last year, the firm posted $0.55 earnings per share. Equities analysts expect that Great Elm Capital Corp. will post 1.43 EPS for the current fiscal year.

Great Elm Capital Cuts Dividend

The company also recently declared a dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, December 31st. Great Elm Capital’s payout ratio is currently 477.42%.

Institutional Trading of Great Elm Capital

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Two Sigma Securities LLC acquired a new position in Great Elm Capital during the fourth quarter worth about $129,000. Virtu Financial LLC acquired a new stake in Great Elm Capital in the 4th quarter valued at about $176,000. Northern Trust Corp bought a new position in shares of Great Elm Capital during the 4th quarter valued at about $187,000. Finally, Northern Right Capital Management L.P. grew its stake in shares of Great Elm Capital by 29.7% in the 4th 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 purchasing an additional 237,367 shares during the last quarter. 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.