Great Elm Capital Corp (GECC) Major Shareholder Mast Capital Management, Llc Sells 18,500 Shares

Great Elm Capital Corp (NASDAQ:GECC) major shareholder Mast Capital Management, Llc sold 18,500 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $8.81, for a total value of $162,985.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Large 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 Thursday, May 16th, Mast Capital Management, Llc sold 149,000 shares of Great Elm Capital stock. The shares were sold at an average price of $8.68, for a total value of $1,293,320.00.
  • On Monday, May 13th, Mast Capital Management, Llc sold 8,800 shares of Great Elm Capital stock. The shares were sold at an average price of $8.41, for a total value of $74,008.00.
  • On Wednesday, April 24th, Mast Capital Management, Llc sold 48,000 shares of Great Elm Capital stock. The shares were sold at an average price of $8.39, for a total value of $402,720.00.
  • On Thursday, April 18th, Mast Capital Management, Llc sold 37,100 shares of Great Elm Capital stock. The shares were sold at an average price of $8.35, for a total value of $309,785.00.
  • On Monday, April 1st, Mast Capital Management, Llc sold 115,200 shares of Great Elm Capital stock. The shares were sold at an average price of $8.21, for a total value of $945,792.00.
  • On Tuesday, March 26th, Mast Capital Management, Llc sold 221,200 shares of Great Elm Capital stock. The shares were sold at an average price of $8.23, for a total value of $1,820,476.00.
  • On Friday, March 22nd, Mast Capital Management, Llc sold 24,000 shares of Great Elm Capital stock. The shares were sold at an average price of $8.26, for a total value of $198,240.00.
  • On Tuesday, March 19th, Mast Capital Management, Llc sold 32,309 shares of Great Elm Capital stock. The shares were sold at an average price of $8.19, for a total value of $264,610.71.
  • On Thursday, March 14th, Mast Capital Management, Llc sold 64,000 shares of Great Elm Capital stock. The shares were sold at an average price of $8.15, for a total value of $521,600.00.
  • 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 value of $291,770.00.

Shares of NASDAQ GECC opened at $8.86 on Wednesday. Great Elm Capital Corp has a 12 month low of $7.47 and a 12 month high of $10.07. The firm has a market cap of $92.23 million, a PE ratio of 6.15 and a beta of 0.83. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.09 and a quick ratio of 0.20.

Great Elm Capital (NASDAQ:GECC) last announced its earnings results on Tuesday, May 14th. The financial services provider reported $0.26 EPS for the quarter, beating the consensus estimate of $0.24 by $0.02. The business had revenue of $6.31 million during the quarter, compared to the consensus estimate of $6.71 million. Great Elm Capital had a return on equity of 11.94% and a net margin of 11.68%. On average, research analysts anticipate that Great Elm Capital Corp will post 1.02 earnings per share for the current fiscal year.

The firm also recently disclosed a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.083 dividend. This represents a $1.00 annualized dividend and a yield of 11.24%. The ex-dividend date is Thursday, June 27th. Great Elm Capital’s dividend payout ratio is currently 69.44%.

Several equities research analysts have recently commented on GECC shares. Zacks Investment Research downgraded Great Elm Capital from a “buy” rating to a “hold” rating in a report on Wednesday, February 6th. ValuEngine raised Great Elm Capital from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st.

A number of institutional investors have recently made changes to their positions in GECC. JPMorgan Chase & Co. purchased a new stake in Great Elm Capital in the 1st quarter worth about $64,000. Stilwell Value LLC purchased a new stake in Great Elm Capital in the 4th quarter worth about $141,000. Two Sigma Investments LP purchased a new stake in Great Elm Capital in the 4th quarter worth about $155,000. Acadian Asset Management LLC lifted its stake in 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 in the last quarter. Finally, B. Riley Financial Inc. purchased a new stake in Great Elm Capital in the 4th quarter worth about $261,000. 13.12% of the stock is owned by hedge funds and other institutional investors.

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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.

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