Great Elm Capital Group (NASDAQ:GECC) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of Great Elm Capital Group (NASDAQ:GECC) from a hold rating to a strong-buy rating in a report released on Tuesday morning,Zacks.com reports.

Separately, Clear Str downgraded shares of Great Elm Capital Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.50.

Great Elm Capital Group Stock Down 1.9%

Shares of NASDAQ GECC opened at $6.08 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.57. Great Elm Capital Group has a 52 week low of $4.63 and a 52 week high of $11.45. The firm’s fifty day moving average is $5.53 and its 200 day moving average is $6.34. The company has a market cap of $84.45 million, a price-to-earnings ratio of -2.54 and a beta of 0.75.

Great Elm Capital Group (NASDAQ:GECC) last issued its earnings results on Monday, May 4th. The financial services provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.32 by $0.04. The company had revenue of ($1.91) million for the quarter, compared to the consensus estimate of $10.74 million. Great Elm Capital Group had a negative net margin of 70.13% and a positive return on equity of 14.16%. On average, equities research analysts expect that Great Elm Capital Group will post 1.1 earnings per share for the current year.

Great Elm Capital Group Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, June 15th. This represents a $1.00 dividend on an annualized basis and a yield of 16.4%. Great Elm Capital Group’s dividend payout ratio (DPR) is presently -50.21%.

Hedge Funds Weigh In On Great Elm Capital Group

A number of hedge funds have recently modified their holdings of the company. Crestwood Advisors Group LLC boosted its position in shares of Great Elm Capital Group by 8.8% in the fourth quarter. Crestwood Advisors Group LLC now owns 26,625 shares of the financial services provider’s stock worth $188,000 after purchasing an additional 2,151 shares during the period. Rockefeller Capital Management L.P. bought a new position in Great Elm Capital Group in the fourth quarter worth about $70,000. Rangeley Capital LLC purchased a new stake in shares of Great Elm Capital Group during the first quarter worth about $50,000. Papamarkou Wellner Asset Management inc. boosted its position in Great Elm Capital Group by 54.9% in the fourth quarter. Papamarkou Wellner Asset Management inc. now owns 30,200 shares of the financial services provider’s stock valued at $213,000 after buying an additional 10,700 shares during the last quarter. Finally, Kestra Private Wealth Services LLC acquired a new position in shares of Great Elm Capital Group during the 3rd quarter worth approximately $145,000. 38.75% of the stock is currently owned by institutional investors.

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.