Short Interest in Great Elm Group, Inc. (NASDAQ:GEG) Drops By 41.1%

Great Elm Group, Inc. (NASDAQ:GEG - Get Free Report) saw a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 11,600 shares, a decrease of 41.1% from the March 15th total of 19,700 shares. Based on an average trading volume of 10,000 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.0% of the company's shares are short sold.

Insider Activity at Great Elm Group

In related news, insider Jason W. Reese bought 120,000 shares of the company's stock in a transaction that occurred on Tuesday, February 27th. The stock was bought at an average cost of $1.92 per share, for a total transaction of $230,400.00. Following the acquisition, the insider now directly owns 6,280,346 shares of the company's stock, valued at approximately $12,058,264.32. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Great Elm Group news, insider Jason W. Reese acquired 120,000 shares of the company's stock in a transaction on Tuesday, February 27th. The stock was acquired at an average price of $1.92 per share, for a total transaction of $230,400.00. Following the acquisition, the insider now owns 6,280,346 shares in the company, valued at approximately $12,058,264.32. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jason W. Reese acquired 16,200 shares of the company's stock in a transaction on Wednesday, March 13th. The stock was acquired at an average price of $1.94 per share, with a total value of $31,428.00. Following the acquisition, the insider now owns 6,318,549 shares in the company, valued at approximately $12,257,985.06. The disclosure for this purchase can be found here. Insiders purchased 169,701 shares of company stock worth $327,681 in the last ninety days. 43.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Great Elm Group

Institutional investors and hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. purchased a new position in shares of Great Elm Group in the 4th quarter worth $49,000. Royal Bank of Canada boosted its stake in shares of Great Elm Group by 41.9% in the 1st quarter. Royal Bank of Canada now owns 67,678 shares of the company's stock worth $122,000 after buying an additional 20,000 shares during the last quarter. Clayton Partners LLC boosted its stake in shares of Great Elm Group by 172.9% in the 1st quarter. Clayton Partners LLC now owns 144,649 shares of the company's stock worth $328,000 after buying an additional 91,649 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Great Elm Group by 2.4% in the 2nd quarter. Renaissance Technologies LLC now owns 732,876 shares of the company's stock worth $1,502,000 after buying an additional 17,076 shares during the last quarter. Finally, Cove Street Capital LLC boosted its stake in shares of Great Elm Group by 1.3% in the 4th quarter. Cove Street Capital LLC now owns 1,021,646 shares of the company's stock worth $1,982,000 after buying an additional 13,200 shares during the last quarter. 52.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, TheStreet lowered Great Elm Group from a "c" rating to a "d" rating in a research report on Tuesday, February 13th.

Great Elm Group Price Performance

GEG stock remained flat at $1.94 on Thursday. The company had a trading volume of 690 shares, compared to its average volume of 9,859. Great Elm Group has a one year low of $1.59 and a one year high of $2.30. The company has a quick ratio of 19.51, a current ratio of 19.51 and a debt-to-equity ratio of 0.86. The firm's 50 day simple moving average is $1.93 and its two-hundred day simple moving average is $1.93.

Great Elm Group (NASDAQ:GEG - Get Free Report) last posted its earnings results on Tuesday, February 13th. The company reported ($0.01) EPS for the quarter. The business had revenue of $2.82 million during the quarter. Great Elm Group had a negative return on equity of 4.66% and a net margin of 81.66%.

Great Elm Group Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.