Mast Capital Management, Llc Sells 37,100 Shares of Great Elm Capital Corp (GECC) Stock

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Great Elm Capital Corp (NASDAQ:GECC) major shareholder Mast Capital Management, Llc sold 37,100 shares of the company’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $8.35, for a total transaction of $309,785.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

  • On Monday, April 1st, Mast Capital Management, Llc sold 115,200 shares of Great Elm Capital stock. The stock was sold at an average price of $8.21, for a total transaction of $945,792.00.
  • On Tuesday, March 26th, Mast Capital Management, Llc sold 221,200 shares of Great Elm Capital stock. The stock was sold at an average price of $8.23, for a total transaction of $1,820,476.00.
  • On Friday, March 22nd, Mast Capital Management, Llc sold 24,000 shares of Great Elm Capital stock. The stock was sold at an average price of $8.26, for a total transaction of $198,240.00.
  • On Tuesday, March 19th, Mast Capital Management, Llc sold 32,309 shares of Great Elm Capital stock. The stock was sold at an average price of $8.19, for a total transaction of $264,610.71.
  • On Thursday, March 14th, Mast Capital Management, Llc sold 64,000 shares of Great Elm Capital stock. The stock was sold at an average price of $8.15, for a total transaction of $521,600.00.
  • On Monday, March 11th, Mast Capital Management, Llc sold 35,800 shares of Great Elm Capital stock. The stock was 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 stock was 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 stock was 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 stock was 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 stock was sold at an average price of $8.28, for a total transaction of $334,512.00.

Shares of GECC stock remained flat at $$8.36 during trading hours on Thursday. 50,700 shares of the stock were exchanged, compared to its average volume of 55,907. 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 capitalization of $89.46 million, a price-to-earnings ratio of 5.81 and a beta of 0.81. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.20 and a quick ratio of 0.20.

Great Elm Capital (NASDAQ:GECC) last announced its earnings results on Wednesday, March 13th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.02). Great Elm Capital had a positive return on equity of 12.54% and a negative net margin of 32.44%. The company had revenue of $6.91 million for the quarter, compared to analyst estimates of $6.57 million. Equities research analysts anticipate that Great Elm Capital Corp will post 1.02 earnings per share for the current year.

The business also recently announced a monthly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.083 per share. The ex-dividend date is Thursday, June 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.91%. Great Elm Capital’s payout ratio is 69.44%.

Several hedge funds have recently made changes to their positions in GECC. Stilwell Value LLC acquired a new position in shares of Great Elm Capital during the fourth quarter worth approximately $141,000. Two Sigma Investments LP acquired a new position in shares of Great Elm Capital during the fourth quarter worth approximately $155,000. Acadian Asset Management LLC lifted its position in shares of Great Elm Capital by 30.1% during the fourth quarter. Acadian Asset Management LLC now owns 21,968 shares of the financial services provider’s stock worth $173,000 after purchasing an additional 5,083 shares in the last quarter. B. Riley Financial Inc. acquired a new position in shares of Great Elm Capital during the fourth quarter worth approximately $261,000. Finally, Monarch Partners Asset Management LLC acquired a new position in shares of Great Elm Capital during the fourth quarter worth approximately $365,000. Institutional investors own 13.01% of the company’s stock.

Separately, Zacks Investment Research cut shares of Great Elm Capital from a “hold” rating to a “sell” rating in a research note on Monday, March 18th.

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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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