Short Interest in Great Elm Group, Inc. (NASDAQ:GEG) Increases By 429.4%

Great Elm Group, Inc. (NASDAQ:GEG) was the target of a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 27,000 shares, an increase of 429.4% from the June 15th total of 5,100 shares. Based on an average daily volume of 32,300 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.1% of the shares of the stock are sold short.

Insider Transactions at Great Elm Group

In related news, Director Matthew A. Drapkin acquired 20,001 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were purchased at an average price of $1.76 per share, with a total value of $35,201.76. Following the completion of the acquisition, the director now owns 1,958,675 shares in the company, valued at $3,447,268. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Jason W. Reese acquired 24,984 shares of Great Elm Group stock in a transaction dated Tuesday, May 21st. The shares were acquired at an average cost of $1.77 per share, for a total transaction of $44,221.68. Following the completion of the transaction, the insider now directly owns 6,354,630 shares of the company’s stock, valued at $11,247,695.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Matthew A. Drapkin bought 20,001 shares of Great Elm Group stock in a transaction on Wednesday, May 22nd. The stock was purchased at an average price of $1.76 per share, for a total transaction of $35,201.76. Following the completion of the acquisition, the director now owns 1,958,675 shares in the company, valued at approximately $3,447,268. The disclosure for this purchase can be found here. Insiders have purchased a total of 52,041 shares of company stock valued at $91,828 in the last ninety days. 43.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Great Elm Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. increased its stake in Great Elm Group by 31.8% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 50,868 shares of the company’s stock worth $98,000 after buying an additional 12,265 shares during the period. Clayton Partners LLC grew its stake in shares of Great Elm Group by 7.5% during the fourth quarter. Clayton Partners LLC now owns 348,994 shares of the company’s stock valued at $677,000 after acquiring an additional 24,204 shares in the last quarter. Cove Street Capital LLC increased its position in shares of Great Elm Group by 1.3% during the fourth quarter. Cove Street Capital LLC now owns 1,021,646 shares of the company’s stock worth $1,982,000 after acquiring an additional 13,200 shares during the last quarter. Finally, Kingdon Capital Management L.L.C. lifted its stake in shares of Great Elm Group by 0.7% in the fourth quarter. Kingdon Capital Management L.L.C. now owns 1,388,907 shares of the company’s stock worth $2,694,000 after acquiring an additional 9,858 shares in the last quarter. Hedge funds and other institutional investors own 52.83% of the company’s stock.

Great Elm Group Trading Up 1.1 %

Shares of GEG traded up $0.02 during mid-day trading on Thursday, hitting $1.79. The company had a trading volume of 4,160 shares, compared to its average volume of 20,983. Great Elm Group has a 1-year low of $1.59 and a 1-year high of $2.20. The business’s 50-day simple moving average is $1.80 and its 200-day simple moving average is $1.88. The company has a debt-to-equity ratio of 0.89, a current ratio of 12.44 and a quick ratio of 12.44.

Great Elm Group (NASDAQ:GEG) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.10) EPS for the quarter. Great Elm Group had a negative return on equity of 8.39% and a negative net margin of 48.75%. The firm had revenue of $2.79 million for the quarter.

About Great Elm Group

Great Elm Group, Inc operates as a asset management company. The company engages in credit, real estate, and finance businesses. It is also involved in business development related activities and offers investment management services. The company was formerly known as Great Elm Capital Group, Inc and changed its name to Great Elm Group, Inc in December 2020.