Microvast Holdings announces departure of chief financial officer
Richard Cohen, a director at Great Elm Capital Corp . (NASDAQ:GECC), recently purchased shares of the company, as disclosed in a filing with the Securities and Exchange Commission. The transactions took place over two consecutive days. The company, currently valued at $126 million, has been trading near its 52-week high of $11.39.
On June 11, Cohen acquired 5,000 shares of common stock at a weighted average price of $11.1817 per share. The purchase was made through multiple transactions, with share prices ranging from $11.1150 to $11.2000. The following day, June 12, he bought an additional 3,100 shares at $10.95 each. These acquisitions brought Cohen’s direct holdings to 18,100 shares. According to InvestingPro, GECC offers an impressive 13.9% dividend yield and has maintained dividend payments for 10 consecutive years.
Additionally, the report notes an indirect ownership of 2,612 shares by Cohen’s spouse, although he disclaims beneficial ownership of these shares except for his pecuniary interest.
The total value of Cohen’s recent acquisitions amounts to $89,853, based on the reported transaction prices.
In other recent news, Great Elm Capital Corp reported its Q1 2025 earnings, surpassing analyst expectations. The company achieved an earnings per share (EPS) of $0.37, slightly above the forecasted $0.36. Revenue also exceeded projections, reaching $12.5 million compared to the anticipated $10.9 million, marking a 40% year-over-year increase. Additionally, Great Elm Capital launched a $100 million at-the-market equity program. Despite these positive financial results, the company’s Net Asset Value (NAV) per share decreased to $11.46 from $11.79. The company also increased its quarterly distribution by 5.7% to $0.37 per share. Looking forward, Great Elm Capital anticipates its Q2 2025 net investment income to exceed Q1 levels. The company remains confident in its ability to cover its 2025 dividend and expects the first CLO joint venture distribution in October 2025.
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