Zacks Investment Research downgrades Great Elm Capital (NASDAQ:GECC) to a strong sell-off



Zacks Investment Research cut shares by Great Elm Capital (NASDAQ:GECC – Get a rating) from a hold rating to a strong sell rating in a research note released Tuesday to investors, Zacks.com reports.

According to Zacks, “Great Elm Capital Corp. is a diversified investment company. Its segment includes investment management, financial products and merchant banking. Great Elm Capital Corp. is based in Baltimore, Maryland. “

Separately, TheStreet downgraded Great Elm Capital from a c- rating to an advertising rating in a Wednesday, April 6 research note.

Shares of GECC opened at $14.58 on Tuesday. The company has a quick ratio of 0.07, a current ratio of 0.07 and a leverage ratio of 1.90. The company has a 50-day moving average of $15.46 and a two-hundred-day moving average of $18.28. Great Elm Capital has a 52-week low of $13.57 and a 52-week high of $23.10. The company has a market capitalization of $67.08 million, a P/E ratio of 30.38 and a beta of 1.83.

Several hedge funds and other institutional investors have recently changed their holdings in the company. Citadel Advisors LLC acquired a new position in shares of Great Elm Capital during the fourth quarter worth approximately $33,000. Virtu Financial LLC acquired a new position in shares of Great Elm Capital during the fourth quarter worth approximately $50,000. Susquehanna International Group LLP acquired a new position in shares of Great Elm Capital during the fourth quarter worth approximately $55,000. Acadian Asset Management LLC increased its position in Great Elm Capital shares by 60.1% during the fourth quarter. Acadian Asset Management LLC now owns 50,354 shares of the financial services provider worth $154,000 after purchasing an additional 18,903 shares during the period. Finally, Morgan Stanley increased its position in Great Elm Capital by 51.1% in the second quarter. Morgan Stanley now owns 419,711 shares of the financial services provider worth $1,473,000 after purchasing an additional 141,970 shares during the period. Institutional investors and hedge funds own 45.69% of the company’s shares.

Great Elm Capital Company Profile (Get a rating)

Great Elm Capital Corp. is a business development firm that specializes in middle-market mezzanine lending and investment. It invests in middle market corporate debt securities. The fund prefers to invest in media, business services and supplies, healthcare, telecommunications services and communications equipment.

Further reading

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