Maven Securities LTD Purchases 759,833 Shares of Elme Communities $ELME

Key Points

• Maven Securities increased its Elme Communities stake by 607.9% in the second quarter, acquiring 759,833 additional shares for a total of 884,833 shares, or roughly 1% of the company.
• Other institutional investors also increased their positions, and institutional ownership now stands at 87.88% of Elme Communities’ shares.
• Analyst sentiment remains cautious: the stock has a consensus rating of “Reduce” and a target price of $18.00. Shares opened at $1.69, near the lower end of their 52-week range.

Maven Securities LTD increased its holdings in Elme Communities (NYSE:ELME - Free Report) by 607.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 884,833 shares of the company's stock after acquiring an additional 759,833 shares during the quarter. Maven Securities LTD owned approximately 1.00% of Elme Communities worth $1,310,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ELME. AXQ Capital LP bought a new stake in shares of Elme Communities in the 2nd quarter valued at about $703,000. Newtyn Management LLC boosted its stake in shares of Elme Communities by 705.8% during the second quarter. Newtyn Management LLC now owns 2,500,000 shares of the company's stock valued at $3,700,000 after purchasing an additional 2,189,739 shares in the last quarter. Militia Capital Management LLC purchased a new position in Elme Communities during the first quarter valued at approximately $46,000. NewEdge Advisors LLC increased its holdings in Elme Communities by 25,923.4% during the first quarter. NewEdge Advisors LLC now owns 45,541 shares of the company's stock valued at $92,000 after buying an additional 45,366 shares during the period. Finally, Rangeley Capital LLC purchased a new position in Elme Communities during the first quarter valued at approximately $1,323,000. 87.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on ELME shares. Wall Street Zen upgraded Elme Communities from a "strong sell" rating to a "hold" rating in a report on Saturday, July 25th. Weiss Ratings reiterated a "sell (d)" rating on shares of Elme Communities in a report on Wednesday, July 8th. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus target price of $18.00.

Elme Communities Stock Down 0.3%

Shares of Elme Communities stock opened at $1.69 on Wednesday. The company has a market cap of $149.73 million, a P/E ratio of -1.11 and a beta of 0.72. The firm's 50 day moving average price is $1.61 and its 200-day moving average price is $1.90. Elme Communities has a 52-week low of $1.26 and a 52-week high of $17.68.

Elme Communities Profile

Elme Communities, Inc is a real estate investment trust (REIT) specializing in senior living real estate. The company focuses on acquiring and strategically partnering in a diversified portfolio of senior housing communities, providing real estate solutions across the spectrum of independent living, assisted living and memory care facilities. Elme Communities leases properties to experienced operators under long-term contractual arrangements designed to generate stable rental income and align incentives for both landlord and operator.

The company’s core activities include identifying acquisition opportunities, underwriting property performance, structuring lease agreements and overseeing asset management functions.

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