Great Elm Capital (GECC) Upgraded to Buy by Zacks Investment Research

Great Elm Capital (NASDAQ:GECC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday, Zacks.com reports. The brokerage currently has a $9.50 price target on the financial services provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 9.95% from the company’s current price.

According to Zacks, “Great Elm Capital Corp. is a diversified investment company. Its business line consists of investment management, financial products and merchant banking. Great Elm Capital Corp. is based in Baltimore, Maryland. “

Separately, ValuEngine upgraded Great Elm Capital from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st.

NASDAQ GECC opened at $8.64 on Tuesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.20 and a current ratio of 0.20. Great Elm Capital has a 12-month low of $7.47 and a 12-month high of $10.07. The company has a market cap of $91.82 million, a price-to-earnings ratio of 6.00 and a beta of 0.83.

Great Elm Capital (NASDAQ:GECC) last released its earnings results on Wednesday, March 13th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.02). Great Elm Capital had a positive return on equity of 12.54% and a negative net margin of 32.44%. The business had revenue of $6.91 million for the quarter, compared to analyst estimates of $6.57 million. As a group, equities research analysts forecast that Great Elm Capital will post 1.02 EPS for the current year.

In related news, major shareholder Mast Capital Management, Llc sold 8,800 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $8.41, for a total value of $74,008.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 764,609 shares of company stock worth $6,311,936 in the last quarter. 1.40% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. acquired a new stake in shares of Great Elm Capital in the 1st quarter worth approximately $64,000. Stilwell Value LLC acquired a new stake in shares of Great Elm Capital in the 4th quarter worth approximately $141,000. Two Sigma Investments LP acquired a new stake in shares of Great Elm Capital in the 4th quarter worth approximately $155,000. Acadian Asset Management LLC grew its holdings in shares of Great Elm Capital by 30.1% in the 4th quarter. Acadian Asset Management LLC now owns 21,968 shares of the financial services provider’s stock worth $173,000 after acquiring an additional 5,083 shares during the period. Finally, B. Riley Financial Inc. acquired a new stake in shares of Great Elm Capital in the 4th quarter worth approximately $261,000. Institutional investors and hedge funds own 13.01% of the company’s stock.

About Great Elm Capital

Great Elm Capital Corporation is a business development company which specializes in loan and mezzanine, middle market investments. The fund prefers to invest in media, commercial services and supplies, healthcare, telecommunication services, communications equipment. It typically makes equity investments between $3 million and $10 million in companies with revenues between $3 million and $75 million.

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