Gladstone Investment Corp. (GAIN) Rating Increased to Hold at Zacks Investment Research
Gladstone Investment Corp. (NASDAQ:GAIN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday.
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 reiterated a “hold” rating on shares of Gladstone Investment Corp. in a report on Friday, August 5th.
Gladstone Investment Corp. (NASDAQ:GAIN) opened at 8.09 on Monday. Gladstone Investment Corp. has a one year low of $6.40 and a one year high of $9.30. The stock’s 50 day moving average price is $8.45 and its 200-day moving average price is $8.01. The firm has a market cap of $244.88 million, a price-to-earnings ratio of 6.00 and a beta of 0.68.
Gladstone Investment Corp. (NASDAQ:GAIN) last posted its earnings results on Thursday, November 3rd. The investment management company reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The business had revenue of $11.74 million for the quarter, compared to the consensus estimate of $13.15 million. Gladstone Investment Corp. had a return on equity of 7.59% and a net margin of 80.63%. Analysts forecast that Gladstone Investment Corp. will post $0.75 earnings per share for the current year.
The company also recently declared a monthly dividend, which was paid on Monday, October 31st. Stockholders of record on Friday, October 21st were issued a $0.0625 dividend. The ex-dividend date was Wednesday, October 19th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 9.27%. Gladstone Investment Corp.’s dividend payout ratio (DPR) is 54.74%.
In other news, President David A. R. Dullum purchased 4,000 shares of the business’s stock in a transaction dated Monday, November 7th. The shares were bought at an average cost of $7.65 per share, for a total transaction of $30,600.00. Following the completion of the acquisition, the president now directly owns 73,565 shares in the company, valued at approximately $562,772.25. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 3.10% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the stock. Morgan Stanley raised its stake in shares of Gladstone Investment Corp. by 108.8% in the third quarter. Morgan Stanley now owns 463,124 shares of the investment management company’s stock worth $4,115,000 after buying an additional 241,363 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Gladstone Investment Corp. by 111.5% in the second quarter. Janney Montgomery Scott LLC now owns 322,946 shares of the investment management company’s stock worth $2,312,000 after buying an additional 170,249 shares during the period. Algert Global LLC purchased a new stake in shares of Gladstone Investment Corp. during the third quarter worth approximately $1,157,000. Nuveen Fund Advisors LLC purchased a new stake in shares of Gladstone Investment Corp. during the second quarter worth approximately $874,000. Finally, Advisors Asset Management Inc. raised its stake in shares of Gladstone Investment Corp. by 22.4% in the third quarter. Advisors Asset Management Inc. now owns 658,627 shares of the investment management company’s stock worth $5,855,000 after buying an additional 120,703 shares during the period. Institutional investors own 17.65% 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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