Great Elm Capital Corp (GECC) Major Shareholder Mast Capital Management, Llc Sells 64,000 Shares of Stock

Great Elm Capital Corp (NASDAQ:GECC) major shareholder Mast Capital Management, Llc sold 64,000 shares of Great Elm Capital stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $8.15, for a total transaction of $521,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Mast Capital Management, Llc also recently made the following trade(s):

  • On Monday, March 11th, Mast Capital Management, Llc sold 35,800 shares of Great Elm Capital stock. The shares were sold at an average price of $8.15, for a total transaction of $291,770.00.
  • On Wednesday, March 6th, Mast Capital Management, Llc sold 37,500 shares of Great Elm Capital stock. The shares were sold at an average price of $8.23, for a total transaction of $308,625.00.
  • On Friday, March 1st, Mast Capital Management, Llc sold 61,400 shares of Great Elm Capital stock. The shares were sold at an average price of $8.40, for a total transaction of $515,760.00.
  • On Thursday, February 21st, Mast Capital Management, Llc sold 38,900 shares of Great Elm Capital stock. The shares were sold at an average price of $8.33, for a total transaction of $324,037.00.
  • On Friday, February 15th, Mast Capital Management, Llc sold 40,400 shares of Great Elm Capital stock. The shares were sold at an average price of $8.28, for a total transaction of $334,512.00.
  • On Tuesday, February 12th, Mast Capital Management, Llc sold 20,300 shares of Great Elm Capital stock. The shares were sold at an average price of $8.15, for a total transaction of $165,445.00.
  • On Thursday, February 7th, Mast Capital Management, Llc sold 39,800 shares of Great Elm Capital stock. The shares were sold at an average price of $8.11, for a total transaction of $322,778.00.
  • On Monday, February 4th, Mast Capital Management, Llc sold 39,200 shares of Great Elm Capital stock. The shares were sold at an average price of $8.01, for a total transaction of $313,992.00.
  • On Wednesday, January 30th, Mast Capital Management, Llc sold 31,850 shares of Great Elm Capital stock. The shares were sold at an average price of $8.00, for a total transaction of $254,800.00.
  • On Friday, January 25th, Mast Capital Management, Llc sold 32,699 shares of Great Elm Capital stock. The shares were sold at an average price of $7.95, for a total transaction of $259,957.05.

NASDAQ:GECC traded up $0.01 during midday trading on Friday, reaching $8.14. The stock had a trading volume of 58,900 shares, compared to its average volume of 48,680. The firm has a market cap of $87.35 million, a price-to-earnings ratio of 5.36 and a beta of 0.81. Great Elm Capital Corp has a 12-month low of $7.47 and a 12-month high of $10.07. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.10 and a quick ratio of 0.10.

Great Elm Capital (NASDAQ:GECC) last issued its earnings results on Wednesday, March 13th. The financial services provider reported $0.25 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.02). The company had revenue of $6.91 million for the quarter, compared to analysts’ expectations of $6.57 million. Great Elm Capital had a return on equity of 14.91% and a net margin of 27.93%. As a group, analysts expect that Great Elm Capital Corp will post 1.45 earnings per share for the current fiscal year.

The business also recently announced a monthly dividend, which was paid on Friday, February 15th. Shareholders of record on Thursday, January 31st were given a dividend of $0.083 per share. The ex-dividend date was Wednesday, January 30th. This represents a $1.00 annualized dividend and a dividend yield of 12.24%. Great Elm Capital’s payout ratio is currently 65.79%.

Separately, Zacks Investment Research lowered shares of Great Elm Capital from a “buy” rating to a “hold” rating in a research report on Wednesday, February 6th.

Several hedge funds and other institutional investors have recently modified their holdings of the business. Quantum Capital Management boosted its position in shares of Great Elm Capital by 68.9% during the 4th quarter. Quantum Capital Management now owns 293,814 shares of the financial services provider’s stock worth $2,306,000 after purchasing an additional 119,894 shares in the last quarter. OTA Financial Group L.P. acquired a new position in shares of Great Elm Capital during the 4th quarter worth $992,000. Monarch Partners Asset Management LLC acquired a new position in shares of Great Elm Capital during the 4th quarter worth $365,000. B. Riley Financial Inc. acquired a new position in shares of Great Elm Capital during the 4th quarter worth $261,000. Finally, Acadian Asset Management LLC raised its stake in shares of Great Elm Capital by 30.1% during the 4th quarter. Acadian Asset Management LLC now owns 21,968 shares of the financial services provider’s stock worth $173,000 after buying an additional 5,083 shares during the last quarter. Institutional investors own 13.01% of the company’s stock.

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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.

Further Reading: What is the price-to-earnings growth (PEG) ratio?

Insider Buying and Selling by Quarter for Great Elm Capital (NASDAQ:GECC)

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