Latest news with #MichaelStein
Yahoo
3 days ago
- Business
- Yahoo
PROPEL REPORTS ON VOTING RESULTS FROM ANNUAL GENERAL MEETING OF SHAREHOLDERS
TORONTO, June 5, 2025 /CNW/ - Propel Holdings Inc. ("Propel" or the "Company") (TSX: PRL) the fintech facilitating access to credit for underserved consumers, today announced the voting results from its Annual General Meeting of the Shareholders (the "Meeting"), held on June 5, 2025. A total of 20,743,214 shares were represented in person or by proxy at the Meeting, constituting approximately 53.384% of the Company's total issued and outstanding common shares as of the record date. Each of the matters put forward before shareholders for consideration and approval at the Meeting, as described in the Management Information Circular, was duly approved by the requisite number of votes. The voting results in relation to the election of directors, were as follows: Nominee Votes For Votes Withheld % % Michael Stein 98.792 1.208 Clive Kinross 99.960 0.040 Peter Monaco 99.082 0.918 Poonam Puri 96.232 3.768 Geoff Greenwade 98.218 1.782 Karen Martin 99.440 0.560 Peter Anderson 98.335 1.665 Each of the other matters put forward before shareholders for consideration and approval at the Meeting, as described in the Circular, was duly approved by the requisite number of votes. The Company has filed a report of voting results on all resolutions voted on at the Meeting under its profile on About Propel Propel Holdings (TSX: PRL) is the fintech building a new world of financial opportunity for consumers, partners, and investors. Propel's operating brands — Fora Credit, CreditFresh, MoneyKey and QuidMarket — and its Lending-as-a-Service product line facilitate access to credit for consumers underserved by traditional financial institutions. Through its AI-powered platform, Propel evaluates customers in a more comprehensive way than traditional credit scores can. The result is better products and an expanded credit market for consumers while creating sustainable, profitable growth for Propel. The revolutionary fintech platform has already helped consumers access over one million loans and lines of credit and over two billion dollars in credit. At Propel, we are here to change the way customers, partners and investors succeed together. Learn more at SOURCE Propel Holdings Inc. View original content to download multimedia: Errore nel recupero dei dati Effettua l'accesso per consultare il tuo portafoglio Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati
Yemen Online
08-05-2025
- Politics
- Yemen Online
Yemen : Mounting Pressure on Washington and Tel Aviv as Airstrikes Fail to Deter Houthis… Hodeidah Emerges as Potential Target for Ground Offensive
Paris – (YOL) Exclusive The Yemeni battlefield is witnessing rapid developments amid growing pressure on both the United States and Israel, as Houthi drone and missile attacks toward Israeli territory persist. Despite repeated U.S. airstrikes on Houthi positions, the group's military capabilities remain largely intact, and their threat continues to escalate. While recent precision strikes have targeted Houthi facilities and infrastructure, field indicators suggest the group retains substantial offensive capabilities. This ongoing resilience has placed Western powers in a difficult position, challenging the effectiveness of their current military strategy. According to overlapping diplomatic and security sources, advanced discussions are underway between Washington, London, and Tel Aviv to support a limited ground operation led by local Yemeni forces, with Western logistical and intelligence assistance. Analysts believe the strategic port city of Hodeidah, located on Yemen's western coast, is being considered as the primary target for this potential campaign, due to its logistical significance and its suspected role in facilitating Houthi aerial and maritime operations. In this context, a senior U.S. Department of Defense official—speaking on condition of anonymity—stated: 'Airstrikes alone will not be sufficient to dismantle the Houthis' complex infrastructure, especially in heavily fortified coastal areas. A serious debate is currently underway about the need to support localized ground operations executed by trained Yemeni units with direct international backing.' For his part, regional security expert Dr. Michael Stein noted: 'Hodeidah serves as a logistical stronghold for the Houthis. Gaining control of the city would deal a significant blow to their ability to threaten maritime routes and sustain military supply chains.' Should this plan be implemented, it would mark a significant shift in the rules of engagement with the Iran-backed group and could trigger broader regional ramifications at a time of heightened tensions across multiple fronts in the Middle East.
Yahoo
16-04-2025
- Business
- Yahoo
Institutions own 35% of Genie Energy Ltd. (NYSE:GNE) shares but retail investors control 42% of the company
Significant control over Genie Energy by retail investors implies that the general public has more power to influence management and governance-related decisions A total of 22 investors have a majority stake in the company with 50% ownership 20% of Genie Energy is held by insiders We've discovered 1 warning sign about Genie Energy. View them for free. A look at the shareholders of Genie Energy Ltd. (NYSE:GNE) can tell us which group is most powerful. The group holding the most number of shares in the company, around 42% to be precise, is retail investors. In other words, the group stands to gain the most (or lose the most) from their investment into the company. And institutions on the other hand have a 35% ownership in the company. Institutions will often hold stock in bigger companies, and we expect to see insiders owning a noticeable percentage of the smaller ones. Let's delve deeper into each type of owner of Genie Energy, beginning with the chart below. Check out our latest analysis for Genie Energy Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices. Genie Energy already has institutions on the share registry. Indeed, they own a respectable stake in the company. This implies the analysts working for those institutions have looked at the stock and they like it. But just like anyone else, they could be wrong. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of Genie Energy, (below). Of course, keep in mind that there are other factors to consider, too. Genie Energy is not owned by hedge funds. Looking at our data, we can see that the largest shareholder is Howard Jonas with 16% of shares outstanding. With 4.7% and 4.4% of the shares outstanding respectively, The Vanguard Group, Inc. and BlackRock, Inc. are the second and third largest shareholders. Additionally, the company's CEO Michael Stein directly holds 1.5% of the total shares outstanding. A closer look at our ownership figures suggests that the top 22 shareholders have a combined ownership of 50% implying that no single shareholder has a majority. While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. Our information suggests that there isn't any analyst coverage of the stock, so it is probably little known. While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves. Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances. Our most recent data indicates that insiders own a reasonable proportion of Genie Energy Ltd.. It has a market capitalization of just US$408m, and insiders have US$83m worth of shares in their own names. This may suggest that the founders still own a lot of shares. You can click here to see if they have been buying or selling. With a 42% ownership, the general public, mostly comprising of individual investors, have some degree of sway over Genie Energy. This size of ownership, while considerable, may not be enough to change company policy if the decision is not in sync with other large shareholders. While it is well worth considering the different groups that own a company, there are other factors that are even more important. To that end, you should be aware of the 1 warning sign we've spotted with Genie Energy . Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
Yahoo
16-03-2025
- Business
- Yahoo
Genie Energy Ltd (GNE) Q4 2024 Earnings Call Highlights: Strong Growth in Renewables Amid ...
Release Date: March 10, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Genie Energy Ltd (NYSE:GNE) achieved the high-end of its adjusted EBITDA guidance for 2024. The company added 23,000 net new meters in the fourth quarter and over 60,000 during the full year, marking a 17% increase. GREW, the renewables business, saw gross profit increase by over 120% compared to 2023, surpassing $6 million. Diversegy, the energy procurement business, increased revenue by 70% and gross profit by 130%, generating over $750,000 in income from operations. Genie Solar completed its strategic migration to utility scale project vertical, closing its first solar financing deal, which returned approximately $7 million in cash to the balance sheet. Consolidated revenue in the fourth quarter decreased by 1.9% to $102.9 million. Electricity margins in the fourth quarter were lower than in the year-ago quarter due to a migration toward fixed price meters. Fourth quarter revenue at GREW decreased by 30.1% to $4.5 million. Consolidated adjusted EBITDA decreased by 2.8% to $11.1 million, driven by a reduction at GRE. The consolidated net loss attributable to Genie common shareholders decreased to $0.0058 per share from $0.009 per share a year earlier. Warning! GuruFocus has detected 4 Warning Signs with GNE. Q: Can you provide an overview of Genie Energy's performance in 2024 and expectations for 2025? A: Michael Stein, CEO, highlighted that Genie Energy finished 2024 with a solid fourth quarter across both retail and renewables businesses. The company achieved the high-end of its adjusted EBITDA guidance, adding 23,000 net new meters in Q4 and over 60,000 for the year. Looking ahead, Genie Energy expects to continue building its meter book in 2025, with growth opportunities in Texas and California, among other markets. Q: How did the renewables business, GREW, perform in 2024? A: Michael Stein, CEO, stated that GREW made tremendous progress in 2024, with gross profit increasing by over 120% compared to 2023, surpassing $6 million. The company held SG&A increases to single digits, significantly improving GREW's bottom line performance. The renewables business also includes Roded, an environmental tech recycling business, which began generating its first revenues. Q: What strategic shifts occurred at Genie Solar in 2024? A: Michael Stein, CEO, explained that Genie Solar completed its strategic migration to utility-scale project verticals, allowing the company to capture long-term residual value from power generation. In Q4, Genie Solar closed its first solar financing deal, returning approximately $7 million in cash to the balance sheet. The company plans to use similar asset-backed finance deals to boost returns on equity. Q: Can you discuss the financial results for the fourth quarter of 2024? A: Avraham Goldin, CFO, reported that consolidated revenue decreased by 1.9% to $102.9 million. GRE's revenue remained unchanged at $98.4 million, while GREW's revenue decreased by 30.1% to $4.5 million. Consolidated gross profit was $33.5 million, with a gross margin of 32.5%. The consolidated loss from operations decreased by 39.2% year-over-year to $20.8 million. Q: What are the expectations for Genie Energy's financial performance in 2025? A: Michael Stein, CEO, stated that for 2025, Genie Energy maintains its annual consolidated adjusted EBITDA guidance at $40 million to $50 million. The company expects to continue building cash reserves, opportunistically buy back stock, and pay dividends while investing in growth across both new and established businesses. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
