Welcome to our dedicated page for Great Elm Group news (Ticker: GEG), a resource for investors and traders seeking the latest updates and insights on Great Elm Group stock.
Great Elm Group, Inc. reports developments as a publicly traded alternative asset manager with credit and real estate platforms. Its updates commonly cover fee-paying assets under management, management and incentive fees, investment gains and losses, balance-sheet liquidity, common-stock repurchases, and capital raised at the company or its managed vehicles.
Recurring company news also centers on Great Elm Capital Corp., the business development company managed by Great Elm Capital Management, and the Monomoy real estate platform. Those items include GECC portfolio and dividend commentary, Monomoy REIT acquisition activity, build-to-suit industrial development projects, real estate asset management, procurement and construction services, and the consolidation of real estate subsidiaries under Great Elm Real Estate Ventures.
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Great Elm Group reported significant financial developments for the fiscal second quarter ending December 31, 2022. Total revenue surged 84% to $1.9 million, driven by the management agreement acquisition for Monomoy Properties REIT. The company achieved a net income of $29.7 million, recovering from a $4.2 million net loss the previous year, mainly due to substantial investment gains. Strategic asset sales included an $80 million divestiture of its Durable Medical Equipment business and a $45 million stake sale in Forest Investments, increasing cash resources for further investments. GEG's assets under management stood at $619 million.
Great Elm Group, Inc. (NASDAQ: GEG) announced a conference call and webcast scheduled for February 14, 2023, at 9:00 AM ET. This event aims to discuss the financial results for the second quarter of fiscal 2023, ending December 31, 2022. Interested participants can join by calling +1 (888) 440-4537 or 1 (646) 960-0669 for international callers, using Conference ID 2595129. A slide presentation will also be available on their website for reference during the call.
Great Elm is an alternative asset manager with a focus on diversified investments across various sectors, including credit and real estate.
Great Elm Group, Inc. (NASDAQ: GEG) announced a postponement of its earnings release and conference call for the fiscal second quarter ending December 31, 2022, originally set for February 3, 2023. The delay, determined by management on February 2, 2023, is aimed at finalizing accounting related to recent transactions. A new date for the earnings release will be communicated via a press release. GEG is an alternative asset manager focused on diversified portfolio growth across various sectors, including credit and real estate.