Welcome to our dedicated page for GEC news (Ticker: GEC), a resource for investors and traders seeking the latest updates and insights on GEC stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect GEC's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of GEC's position in the market.
Great Elm Capital Group (NASDAQ: GEC) announced a $37.7 million financing transaction with J.P. Morgan to refinance its Durable Medical Equipment (DME) business and provide growth capital. The transaction will increase cash at the holding company by $5 million and facilitate an internal reorganization. Following this, the company will change its name to Great Elm Group and its ticker symbol to GEG on December 29, 2020. Existing GEC stockholders will exchange shares in a 1:1 ratio for GEG shares, which will begin trading the next day.
Great Elm Capital Group reported fiscal Q1 results, highlighting a 10.4% year-over-year revenue growth to $14.6 million, despite challenges from COVID-19. The net loss narrowed to $0.5 million from $0.8 million the previous year. Adjusted EBITDA decreased to $2.8 million from $3.0 million, reflecting increased operational costs due to the pandemic. The successful completion of a $31.7 million rights offering positions the Investment Management segment for future growth in assets under management and revenue. The company remains focused on organic growth and potential acquisitions.
Great Elm Capital Group (NASDAQ: GEC) reported a fiscal Q4 revenue increase of 7.9% year-over-year, despite COVID-19 challenges. The net income reached $2.8 million, with adjusted EBITDA at $7.0 million, up from a net loss in the prior year. Consolidated net income for the quarter stood at $4.1 million, compared to a loss of $1.0 million in the same period last year. The company emphasizes growth potential in its Investment Management segment following a rights offering aimed at boosting assets under management (AUM) and revenue.
Great Elm Capital Group (GEC) announced its fiscal third quarter 2020 results on May 11, 2020. The company will discuss these outcomes in a conference call scheduled for May 12, 2020, at 8:00 a.m. ET. Great Elm focuses on operating companies, investment management, and real estate sectors as a publicly-traded holding company. For more details, the company invites stakeholders to join the call or access the presentation via their official website.