Great Elm Capital Group (NASDAQ:GECC) Announces Quarterly Earnings Results

Great Elm Capital Group (NASDAQ:GECC) announced its earnings results on Monday. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.13, Zacks reports. Great Elm Capital Group had a positive return on equity of 13.19% and a negative net margin of 63.59%.The business had revenue of ($1.91) million for the quarter, compared to analysts’ expectations of $10.74 million.

Great Elm Capital Group Price Performance

NASDAQ:GECC traded up $0.08 during trading hours on Tuesday, reaching $5.61. The stock had a trading volume of 65,569 shares, compared to its average volume of 81,609. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.24 and a current ratio of 0.24. Great Elm Capital Group has a 52 week low of $4.63 and a 52 week high of $11.45. The company has a 50 day moving average price of $5.43 and a two-hundred day moving average price of $6.61. The stock has a market capitalization of $77.93 million, a PE ratio of -2.44 and a beta of 0.72.

Great Elm Capital Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.00 dividend on an annualized basis and a yield of 17.8%. Great Elm Capital Group’s payout ratio is presently -52.17%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on GECC shares. Clear Str downgraded Great Elm Capital Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 3rd. Zacks Research downgraded Great Elm Capital Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 5th. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $10.50.

Institutional Trading of Great Elm Capital Group

A number of large investors have recently added to or reduced their stakes in the company. Papamarkou Wellner Asset Management inc. increased its stake in Great Elm Capital Group by 54.9% in the 4th quarter. Papamarkou Wellner Asset Management inc. now owns 30,200 shares of the financial services provider’s stock worth $213,000 after acquiring an additional 10,700 shares during the last quarter. Squarepoint Ops LLC increased its stake in Great Elm Capital Group by 247.9% in the 4th quarter. Squarepoint Ops LLC now owns 106,079 shares of the financial services provider’s stock worth $747,000 after acquiring an additional 75,588 shares during the last quarter. Jane Street Group LLC bought a new stake in Great Elm Capital Group in the 4th quarter worth approximately $220,000. Kestra Private Wealth Services LLC bought a new stake in Great Elm Capital Group in the 3rd quarter worth approximately $145,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of Great Elm Capital Group during the 3rd quarter valued at approximately $169,000. Institutional investors own 38.75% of the company’s stock.

About Great Elm Capital Group

Great Elm Capital Group, Inc (NASDAQ: GECC) is a closed-end, externally managed business development company (BDC) that seeks to generate current income and capital appreciation by investing in private, middle-market companies. The firm targets senior secured loans, subordinated debt and equity securities of U.S. companies, with a focus on businesses offering stable cash flows and potential for growth. Industry sectors of interest include business services, consumer products, industrials and healthcare, among others.

GECC’s investment strategy emphasizes portfolio diversification and active management.