Acadian Asset Management LLC Cuts Stock Holdings in Great Elm Capital Corp. (NASDAQ:GECC)

Acadian Asset Management LLC reduced its stake in Great Elm Capital Corp. (NASDAQ:GECC) by 29.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,768 shares of the financial services provider’s stock after selling 7,570 shares during the period. Acadian Asset Management LLC owned approximately 0.17% of Great Elm Capital worth $189,000 at the end of the most recent reporting period.

Separately, O Shaughnessy Asset Management LLC increased its holdings in Great Elm Capital by 13.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 27,730 shares of the financial services provider’s stock worth $307,000 after purchasing an additional 3,214 shares during the period. 38.75% of the stock is owned by institutional investors and hedge funds.

Great Elm Capital Price Performance

GECC stock opened at $10.01 on Friday. Great Elm Capital Corp. has a 1 year low of $8.38 and a 1 year high of $11.82. The firm has a market capitalization of $94.61 million, a P/E ratio of 4.55 and a beta of 1.60. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.30 and a quick ratio of 0.30. The business’s 50-day moving average is $10.36 and its two-hundred day moving average is $10.38.

Great Elm Capital (NASDAQ:GECC) last issued its earnings results on Thursday, August 1st. The financial services provider reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.01). Great Elm Capital had a net margin of 27.61% and a return on equity of 11.40%. The firm had revenue of $9.55 million during the quarter, compared to analyst estimates of $9.77 million. During the same period last year, the business earned $0.44 EPS. Analysts anticipate that Great Elm Capital Corp. will post 1.42 earnings per share for the current fiscal year.

Great Elm Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.40 annualized dividend and a dividend yield of 13.99%. Great Elm Capital’s dividend payout ratio (DPR) is currently 63.64%.

Insider Buying and Selling

In other Great Elm Capital news, Director Matthew A. Drapkin acquired 9,600 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were acquired at an average price of $9.92 per share, for a total transaction of $95,232.00. Following the acquisition, the director now owns 75,716 shares in the company, valued at approximately $751,102.72. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Matthew A. Drapkin bought 3,189 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were purchased at an average cost of $10.01 per share, with a total value of $31,921.89. Following the transaction, the director now directly owns 64,806 shares of the company’s stock, valued at approximately $648,708.06. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Matthew A. Drapkin purchased 9,600 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were bought at an average price of $9.92 per share, for a total transaction of $95,232.00. Following the completion of the purchase, the director now directly owns 75,716 shares in the company, valued at $751,102.72. The disclosure for this purchase can be found here. Insiders own 10.20% of the company’s stock.

Great Elm Capital Profile

Great Elm Capital Corp. is a business development company which specializes in loan and mezzanine, middle market investments. It invests in the debt instruments of middle market companies. The fund prefers to invest in media, commercial services and supplies, healthcare, telecommunication services, communications equipment.