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Great Elm Capital Corp (GECC) stock has reached a new 52-week high, hitting $11.32 on the trading floor, with a market capitalization of $130 million. This milestone reflects a period of robust performance for the company, which has seen its stock price surge nearly 20% over the past year. According to InvestingPro, the company maintains an impressive 13.7% dividend yield. Investors have been closely monitoring GECC’s progress, as the company’s strategic initiatives appear to be paying off, translating into tangible gains in the market. With a beta of 1.58 and a P/E ratio of 17.2, the stock shows notable volatility while maintaining profitability. This 52-week high serves as a testament to GECC’s resilience and growth potential in a competitive economic landscape. Discover more insights with InvestingPro’s comprehensive Research Report, featuring additional ProTips and detailed analysis.
In other recent news, Lucid (NASDAQ:LCID) Capital Markets has initiated coverage on Great Elm Capital Corp. with a Buy rating and set a price target of $11.00. This development follows Great Elm Capital’s strategic turnaround efforts that began in 2022, with a focus on middle market secured debt lending and equity investments in specialty finance companies and collateralized loan obligations. The analyst from Lucid Capital Markets expressed optimism about the company’s progress under its new strategy, which aims to address previous management challenges. The firm anticipates lower nonaccruals and realized losses, which could improve the stock’s trading multiple in the near to mid-term. Currently, Great Elm Capital’s stock trades at a price to net asset value (P/NAV) of 84%, compared to the median level of its peers at 94%. Lucid Capital Markets projects a 12.7% dividend yield for the fiscal year 2024, based on expected regular dividends of $1.40. This projection is set against the current dividend yield of 13.8%. The firm’s analysis suggests confidence in Great Elm Capital’s strategic direction and potential for stock appreciation as the company continues its turnaround efforts.
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