Brokerages expect that Great Elm Capital Corp. (NASDAQ:GECC – Get Rating) will post $0.60 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Zero analysts have made estimates for Great Elm Capital’s earnings. Great Elm Capital reported earnings of $0.54 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 11.1%. The firm is scheduled to issue its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Great Elm Capital will report full year earnings of $2.04 per share for the current fiscal year, with EPS estimates ranging from $1.67 to $2.40. For the next fiscal year, analysts forecast that the business will post earnings of $1.54 per share. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Great Elm Capital.
GECC has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Great Elm Capital from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research note on Thursday, May 26th. TheStreet lowered shares of Great Elm Capital from a “c-” rating to a “d” rating in a research note on Wednesday, April 6th.
NASDAQ GECC remained flat at $$12.49 on Tuesday. 67,826 shares of the company’s stock traded hands, compared to its average volume of 22,956. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 2.05. The business has a 50-day moving average price of $13.84 and a two-hundred day moving average price of $16.50. Great Elm Capital has a 52 week low of $12.28 and a 52 week high of $23.10.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Thursday, June 23rd will be given a dividend of $0.45 per share. The ex-dividend date is Wednesday, June 22nd. This represents a $1.80 annualized dividend and a dividend yield of 14.41%.
In other Great Elm Capital news, Director Matthew A. Drapkin bought 7,336 shares of the firm’s stock in a transaction dated Wednesday, May 25th. The stock was acquired at an average cost of $12.41 per share, for a total transaction of $91,039.76. Following the completion of the transaction, the director now owns 136,399 shares in the company, valued at $1,692,711.59. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 1.90% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada bought a new stake in shares of Great Elm Capital in the first quarter valued at about $31,000. Citadel Advisors LLC bought a new stake in shares of Great Elm Capital in the fourth quarter valued at about $33,000. Virtu Financial LLC bought a new stake in shares of Great Elm Capital in the fourth quarter valued at about $50,000. Susquehanna International Group LLP bought a new stake in shares of Great Elm Capital in the fourth quarter valued at about $55,000. Finally, Acadian Asset Management LLC raised its holdings in shares of Great Elm Capital by 60.1% in the fourth quarter. Acadian Asset Management LLC now owns 50,354 shares of the financial services provider’s stock valued at $154,000 after acquiring an additional 18,903 shares in the last quarter. Hedge funds and other institutional investors own 71.76% of the company’s stock.
About Great Elm Capital (Get Rating)
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.
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