Great Elm Capital Group (NASDAQ:GECC) Stock Crosses Below 50-Day Moving Average – Here’s What Happened

Great Elm Capital Group, Inc. (NASDAQ:GECC)’s share price passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $5.72 and traded as low as $5.38. Great Elm Capital Group shares last traded at $5.47, with a volume of 146,156 shares changing hands.

Analyst Ratings Changes

GECC has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Great Elm Capital Group in a research report on Thursday, June 4th. Clear Str lowered shares of Great Elm Capital Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 3rd. Finally, Zacks Research upgraded shares of Great Elm Capital Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $10.50.

Great Elm Capital Group Price Performance

The stock has a market cap of $75.98 million, a P/E ratio of -2.29 and a beta of 0.75. 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 firm has a 50-day moving average price of $5.72 and a 200-day moving average price of $6.21.

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

Great Elm Capital Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.00 annualized dividend and a yield of 18.3%. Great Elm Capital Group’s dividend payout ratio (DPR) is currently -41.84%.

Institutional Trading of Great Elm Capital Group

A number of hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC increased its stake in shares of Great Elm Capital Group by 247.9% in the 4th quarter. Squarepoint Ops LLC now owns 106,079 shares of the financial services provider’s stock worth $747,000 after acquiring an additional 75,588 shares in the last quarter. Granby Capital Management LLC purchased a new position in Great Elm Capital Group during the 4th quarter valued at about $352,000. Jane Street Group LLC purchased a new position in Great Elm Capital Group during the 4th quarter valued at about $220,000. Papamarkou Wellner Asset Management inc. boosted its stake in Great Elm Capital Group by 54.9% during the fourth quarter. Papamarkou Wellner Asset Management inc. now owns 30,200 shares of the financial services provider’s stock worth $213,000 after acquiring an additional 10,700 shares in the last quarter. Finally, Crestwood Advisors Group LLC boosted its stake in Great Elm Capital Group by 8.8% during the fourth quarter. Crestwood Advisors Group LLC now owns 26,625 shares of the financial services provider’s stock worth $188,000 after acquiring an additional 2,151 shares in the last quarter. Institutional investors own 38.75% of the company’s stock.

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.