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. (NASDAQ: GEG) operates as a holding company with a focus on building a diversified portfolio of long-duration, permanent capital vehicles. The company's core operations span across corporate credit, specialty finance, real estate, and other alternative asset classes. Great Elm Group's segmentation is centered on investment management, conducted by an experienced team with over 100 years of combined experience in funding leveraged middle market companies.
Great Elm Group's pioneering investment vehicle is Great Elm Capital Corp. (GECC), a business development company, which exemplifies the firm's strategic approach to capital deployment. The investment team at Great Elm Capital Management has a rich history of managing substantial investments, having deployed over $17 billion into credit investments across more than 550 issuers in 20+ jurisdictions over a 14-year period under Mast Capital Management, LLC.
In addition to GECC, Great Elm Group manages Monomoy Properties REIT, LLC, an industrial-focused real estate investment trust. The company continues to expand its portfolio, focusing on long-term growth and scalability. Recent initiatives highlight the company's commitment to maintaining a strong financial condition and expanding its investment reach.
Latest updates include announcements for their upcoming conference calls and webcasts where they will discuss fiscal year performance and financial results. These events are key opportunities for investors and stakeholders to gain insights into the company's operations and future prospects.
For more information, please visit the official website www.greatelmgroup.com. Investors can also reach out through the provided contact details for media and investor relations queries.
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.
Great Elm Group, Inc. (NASDAQ: GEG) announced it will release its fiscal 2023 second quarter results on February 2, 2023, after market close. The company will host a conference call and webcast on February 3, 2023, at 9:00 a.m. ET to discuss these results. Interested parties can participate by calling +1 (888) 440-4537 or 1 (646) 960-0669 for international callers, entering Conference ID 2595129. Great Elm is engaged in managing a diversified portfolio across corporate credit, specialty finance, and real estate through its subsidiaries, including Great Elm Capital Corp. and Monomoy Properties REIT.
Great Elm Group, Inc. (NASDAQ: GEG) has successfully closed the sale of its Durable Medical Equipment (DME) business to QHM Holdings, Inc., a subsidiary of Quipt Home Medical Corp., for a total consideration of $80 million. This includes approximately $73 million in cash and shares of Quipt stock. The transaction is expected to simplify GEG’s operational structure and provide approximately $26 million in net cash proceeds, allowing the company to focus on its Investment Management business. The deal is anticipated to enhance resources for strategic growth initiatives.
Great Elm Group (NASDAQ: GEG) has sold 61% of its ownership interest in Forest Investments, Inc. to J.P. Morgan for approximately $18 million. This transaction is expected to raise about $45 million in total cash proceeds for Great Elm, enhancing its investment management capabilities. Post-transaction, J.P. Morgan holds 81% of Forest, while Great Elm retains a 19% stake with the option to sell for $27 million. This strategic move aligns with Great Elm's focus on its core investment management strategy.
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