Great Elm Capital Group (NASDAQ:GECC) Issues Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Great Elm Capital Group (NASDAQ:GECC) announced its earnings results on Wednesday. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.11, FiscalAI reports. The firm had revenue of $14.74 million during the quarter, compared to analysts’ expectations of $11.32 million. Great Elm Capital Group had a positive return on equity of 14.16% and a negative net margin of 70.13%.

Great Elm Capital Group Stock Performance

Shares of NASDAQ:GECC traded down $0.13 during midday trading on Wednesday, hitting $5.16. The company’s stock had a trading volume of 44,735 shares, compared to its average volume of 46,040. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.91 and a current ratio of 0.91. The stock’s 50 day simple moving average is $5.53 and its 200 day simple moving average is $5.77. The stock has a market capitalization of $71.67 million, a price-to-earnings ratio of 3.83 and a beta of 0.77. Great Elm Capital Group has a fifty-two week low of $4.63 and a fifty-two week high of $11.45.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GECC. Weiss Ratings reissued a “sell (d)” rating on shares of Great Elm Capital Group in a research report on Thursday, June 4th. Zacks Research cut shares of Great Elm Capital Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $10.50.

Hedge Funds Weigh In On Great Elm Capital Group

Several large investors have recently made changes to their positions in the business. Papamarkou Wellner Asset Management inc. boosted its stake in Great Elm Capital Group by 54.9% during the 4th quarter. Papamarkou Wellner Asset Management inc. now owns 30,200 shares of the financial services provider’s stock valued at $213,000 after purchasing an additional 10,700 shares during the period. Kestra Private Wealth Services LLC bought a new position in Great Elm Capital Group in the 3rd quarter worth approximately $145,000. Virtu Financial LLC bought a new position in Great Elm Capital Group in the 3rd quarter worth approximately $160,000. Schonfeld Strategic Advisors LLC bought a new position in Great Elm Capital Group in the 3rd quarter worth approximately $169,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Great Elm Capital Group during the third quarter worth approximately $306,000. Institutional investors and hedge funds own 38.75% of the company’s stock.

Great Elm Capital Group Company Profile

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.