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.
Great Elm Group, Inc. (NASDAQ: GEG) has sold its entire ownership interest in two Class A office buildings in Fort Myers, Florida for $4.6 million to an affiliate of Monomoy Properties, LLC. The sale, which enhances GEG's capitalization by eliminating associated debt, allows for improved operating and leverage ratios. GEG previously acquired the properties for $2.7 million in March 2018. The proceeds from this sale will be reinvested into Monomoy's diversified industrial properties REIT portfolio, offering greater cash flow and liquidity through ongoing dividend payments.
Great Elm Group (GEG) announced its fiscal 2021 third-quarter results, reporting consolidated revenue of $15.1 million, down from $16.2 million. The consolidated net loss improved to $2.9 million from $11.9 million year-over-year, while Adjusted EBITDA rose to $3.6 million from $2.6 million. Key developments included the acquisition of AMPM and signs of business recovery in Durable Medical Equipment (DME) operations despite a revenue decline. Investment Management (IM) reported a net loss of $0.3 million. GEG remains optimistic about future growth opportunities.
Great Elm Group, Inc. (NASDAQ: GEG) will release its fiscal 2021 third quarter results for the period ending March 31, 2021, on May 14, 2021, before market opening. A conference call and webcast will follow at 4:30 p.m. ET on the same day to discuss these financial results. Interested participants can join the call via phone or through a live webcast. Great Elm is focused on investment management and operating companies, positioning itself for future growth. For more details, please refer to the company’s website.
Great Elm Group, Inc. (NASDAQ: GEG) announced its Annual Stockholders’ Meeting is scheduled for May 28, 2021. The proxy statement detailing the meeting will be available by the third week of April for stockholders of record as of April 5, 2021. Great Elm Group operates in investment management and operating companies, aiming to build a diversified business model.
Great Elm Group (GEG) announced a strategic agreement with MAST Capital Management to simplify its capital structure. GEG will issue $2.25 million in 5% Convertible Senior PIK Notes due 2030 to MAST, which will settle existing obligations and relinquish MAST's board appointment rights. This transaction allows GEG to enhance its ownership of GP Corp to over 90%. CEO Peter A. Reed expressed that these moves benefit GEG by acquiring GP Corp notes at a discount and increasing potential future profits for shareholders.
Great Elm Group has expanded its operating footprint in the Midwest by acquiring Advanced Medical DME and PM Sleep Lab, adding over 2,500 patients and nine locations in Kansas and Missouri. The combined entities reported approximately $5 million in pro forma unaudited revenues in 2020. This acquisition allows Great Elm to enhance its service offerings, including potential ventilator and oxygen services, while aiming for operational efficiencies and cost savings.
Great Elm Group, a diversified holding company trading as GEG, reported mixed results for its fiscal 2021 second quarter ending December 31, 2020. Total revenue for DME rose 1% to $14.5 million, but net loss increased to $2.9 million from $0.7 million. Adjusted EBITDA for DME decreased to $1.9 million. Investment Management revenue fell to $0.8 million with a net loss of $0.3 million. A strategic financing transaction with J.P. Morgan resulted in a $37.7 million investment, enhancing DME’s growth potential. The company holds a strong alignment of interest with insiders owning 27% of outstanding shares.
Great Elm Group, Inc. (NASDAQ: GEG) announced it will release its fiscal 2021 second quarter results for the period ending December 31, 2020, on February 16, 2021, before market opening. The company will hold a conference call at 8:30 AM ET on the same day to discuss the financial results, and interested parties can participate via phone or through a webcast. Great Elm operates in investment management and operating companies sectors, aiming for growth and development in these areas.