Great Elm Capital (NASDAQ:GECC) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “Great Elm Capital Corp. is a diversified investment company. Its business line consists of investment management, financial products and merchant banking. Great Elm Capital Corp. is based in Baltimore, Maryland. “
Separately, Janney Montgomery Scott began coverage on Great Elm Capital in a report on Monday, November 6th. They issued a “neutral” rating and a $12.00 target price for the company.
In related news, insider Peter A. Reed bought 3,807 shares of the company’s stock in a transaction dated Friday, November 17th. The stock was acquired at an average cost of $9.85 per share, with a total value of $37,498.95. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael C. Speller bought 5,000 shares of the company’s stock in a transaction dated Monday, November 13th. The stock was bought at an average cost of $9.40 per share, with a total value of $47,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders bought 11,095 shares of company stock valued at $106,139 and sold 100,901 shares valued at $1,020,723.
Several institutional investors and hedge funds have recently modified their holdings of the company. Quantum Capital Management acquired a new position in shares of Great Elm Capital in the 3rd quarter worth approximately $512,000. Royal Bank of Canada acquired a new stake in Great Elm Capital during the 2nd quarter valued at $512,000. Finally, GRT Capital Partners L.L.C. acquired a new stake in Great Elm Capital during the 2nd quarter valued at $237,000. 21.49% of the stock is owned by institutional investors and hedge funds.
TRADEMARK VIOLATION NOTICE: “Great Elm Capital (GECC) Stock Rating Lowered by Zacks Investment Research” was first reported by Markets Daily and is the property of of Markets Daily. If you are accessing this piece on another site, it was stolen and republished in violation of U.S. & international trademark and copyright law. The legal version of this piece can be viewed at https://www.themarketsdaily.com/2018/01/11/great-elm-capital-gecc-stock-rating-lowered-by-zacks-investment-research.html.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Great Elm Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Great Elm Capital and related companies with MarketBeat.com's FREE daily email newsletter.