Great Elm Capital Corp. (NASDAQ:GECC) Sees Large Increase in Short Interest

Great Elm Capital Corp. (NASDAQ:GECCGet Free Report) was the target of a large growth in short interest in January. As of January 15th, there was short interest totalling 22,800 shares, a growth of 6.0% from the December 31st total of 21,500 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 18,300 shares, the short-interest ratio is presently 1.2 days.

Great Elm Capital Trading Up 0.4 %

Shares of GECC stock opened at $10.77 on Friday. The firm has a 50-day moving average price of $10.69 and a 200 day moving average price of $9.84. Great Elm Capital has a twelve month low of $7.51 and a twelve month high of $11.82. The company has a market capitalization of $49.54 million, a price-to-earnings ratio of 6.04 and a beta of 1.52. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.43.

Great Elm Capital (NASDAQ:GECCGet Free Report) last announced its earnings results on Thursday, November 2nd. The financial services provider reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). Great Elm Capital had a net margin of 40.71% and a return on equity of 12.64%. The firm had revenue of $9.28 million during the quarter, compared to analyst estimates of $8.76 million. Research analysts forecast that Great Elm Capital will post 1.67 earnings per share for the current fiscal year.

Great Elm Capital Cuts Dividend

The business also recently disclosed a None dividend, which was paid on Friday, January 12th. Stockholders of record on Friday, December 29th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, December 28th. Great Elm Capital’s dividend payout ratio is currently 77.35%.

Insider Buying and Selling

In other news, major shareholder Great Elm Group, Inc. bought 27,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was purchased at an average price of $10.05 per share, with a total value of $271,350.00. Following the purchase, the insider now owns 1,520,560 shares of the company’s stock, valued at approximately $15,281,628. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 12.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada purchased a new stake in shares of Great Elm Capital during the 1st quarter worth about $31,000. UBS Group AG grew its holdings in shares of Great Elm Capital by 111.1% during the 3rd quarter. UBS Group AG now owns 3,631 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 1,911 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Great Elm Capital by 470.1% during the 2nd quarter. Wells Fargo & Company MN now owns 6,100 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 5,030 shares during the period. Cove Street Capital LLC purchased a new stake in shares of Great Elm Capital during the 2nd quarter worth about $95,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Great Elm Capital during the 1st quarter worth about $106,000. Institutional investors and hedge funds own 29.41% of the company’s stock.

Great Elm Capital Company Profile

(Get Free Report)

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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