Great Elm Capital Group (NASDAQ:GECC) Stock Price Passes Below 50-Day Moving Average – What’s Next?

Great Elm Capital Group, Inc. (NASDAQ:GECC) crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $5.64 and traded as low as $5.24. Great Elm Capital Group shares last traded at $5.44, with a volume of 78,643 shares.

Analysts Set New Price Targets

GECC has been the topic of several research analyst reports. Zacks Research cut Great Elm Capital Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Great Elm Capital Group in a research note on Tuesday, September 1st. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $10.50.

Great Elm Capital Group Stock Performance

The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $75.70 million, a price-to-earnings ratio of -1.85 and a beta of 0.78. The stock’s fifty day simple moving average is $5.64 and its 200-day simple moving average is $5.57.

Great Elm Capital Group (NASDAQ:GECC) last posted its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). The business had revenue of $14.74 million during the quarter, compared to analyst estimates of $11.32 million. Great Elm Capital Group had a positive return on equity of 13.87% and a negative net margin of 87.74%. Analysts predict that Great Elm Capital Group, Inc. will post 1.1 EPS for the current year.

Great Elm Capital Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, September 15th. This represents a $1.00 annualized dividend and a yield of 18.3%. Great Elm Capital Group’s dividend payout ratio is -33.90%.

Hedge Funds Weigh In On Great Elm Capital Group

Several hedge funds and other institutional investors have recently made changes to their positions in GECC. Rangeley Capital LLC acquired a new position in shares of Great Elm Capital Group during the first quarter worth about $50,000. Rockefeller Capital Management L.P. purchased a new position in Great Elm Capital Group in the fourth quarter worth approximately $70,000. Finally, Granby Capital Management LLC purchased a new position in Great Elm Capital Group in the fourth quarter worth approximately $352,000. Hedge funds and other institutional investors own 38.75% of the company’s stock.

Great Elm Capital Group Company Profile

Great Elm Capital Corp. (NASDAQ: GECC) is a business development company that provides financing and investment capital to middle-market companies. The company primarily seeks to invest in debt securities, including senior secured loans, subordinated debt and other forms of structured credit, while also making equity investments when appropriate.

Great Elm Capital generally works with companies that may have limited access to traditional bank financing. Its investment activities are focused primarily on businesses in the United States and are designed to provide companies with capital for acquisitions, growth initiatives, recapitalizations, refinancing and other general corporate purposes.

The company was formerly known as Full Circle Capital Corp.