Zacks Investment Research Downgrades Gladstone Investment Corp. (GAIN) to Hold
Gladstone Investment Corp. (NASDAQ:GAIN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Gladstone Investment Corporation is an investment company that seeks to make equity-type investments in small and mid-sized private businesses in the U.S. “
Separately, Jefferies Group reaffirmed a “hold” rating on shares of Gladstone Investment Corp. in a research note on Friday, August 5th.
Gladstone Investment Corp. (NASDAQ:GAIN) traded down 1.22% on Tuesday, reaching $8.91. 105,215 shares of the company’s stock were exchanged. Gladstone Investment Corp. has a 1-year low of $6.40 and a 1-year high of $9.30. The company has a 50 day moving average price of $8.93 and a 200-day moving average price of $7.71.
Gladstone Investment Corp. (NASDAQ:GAIN) last released its quarterly earnings results on Monday, August 1st. The investment management company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.05. Gladstone Investment Corp. had a return on equity of 8.04% and a net margin of 77.56%. On average, analysts expect that Gladstone Investment Corp. will post $0.78 EPS for the current fiscal year.
The business also recently disclosed a monthly dividend, which was paid on Friday, September 30th. Investors of record on Wednesday, September 21st were given a dividend of $0.0625 per share. This represents a $0.75 dividend on an annualized basis and a yield of 8.42%. The ex-dividend date of this dividend was Monday, September 19th. Gladstone Investment Corp.’s dividend payout ratio is presently 54.74%.
In related news, COO Terry Lee Brubaker sold 49,414 shares of Gladstone Investment Corp. stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $8.73, for a total transaction of $431,384.22. Following the completion of the sale, the chief operating officer now owns 232,598 shares in the company, valued at approximately $2,030,580.54. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 3.10% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada boosted its stake in Gladstone Investment Corp. by 1.3% in the first quarter. Royal Bank of Canada now owns 17,451 shares of the investment management company’s stock worth $123,000 after buying an additional 222 shares in the last quarter. Raymond James & Associates boosted its stake in Gladstone Investment Corp. by 31.1% in the second quarter. Raymond James & Associates now owns 21,614 shares of the investment management company’s stock valued at $155,000 after buying an additional 5,124 shares during the period. KCG Holdings Inc. boosted its stake in Gladstone Investment Corp. by 12.1% in the second quarter. KCG Holdings Inc. now owns 23,400 shares of the investment management company’s stock valued at $168,000 after buying an additional 2,521 shares during the period. JPMorgan Chase & Co. boosted its stake in Gladstone Investment Corp. by 88.5% in the second quarter. JPMorgan Chase & Co. now owns 59,158 shares of the investment management company’s stock valued at $424,000 after buying an additional 27,778 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. boosted its stake in Gladstone Investment Corp. by 6.5% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 78,059 shares of the investment management company’s stock valued at $548,000 after buying an additional 4,771 shares during the period. Hedge funds and other institutional investors own 15.37% of the company’s stock.
About Gladstone Investment Corp.
Gladstone Investment Corporation is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objectives are to achieve and grow current income by investing in debt securities of established businesses that it believes will provide stable earnings and cash flow to pay expenses, make principal and interest payments on its outstanding indebtedness and make distributions to stockholders that grow over time, and provide its stockholders with long-term capital appreciation in the value of its assets by investing in equity securities, generally in combination with the aforementioned debt securities, of businesses that it believes can grow over time to permit it to sell its equity investments for capital gains.
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