Wedbush Comments on Gladstone Investment Corporation’s Q1 2018 Earnings (GAIN)
Gladstone Investment Corporation (NASDAQ:GAIN) – Research analysts at Wedbush issued their Q1 2018 earnings per share (EPS) estimates for Gladstone Investment Corporation in a report issued on Tuesday. Wedbush analyst H. Coffey forecasts that the investment management company will post earnings of $0.16 per share for the quarter. Wedbush has a “Outperform” rating and a $10.00 price objective on the stock. Wedbush also issued estimates for Gladstone Investment Corporation’s Q2 2018 earnings at $0.16 EPS, Q3 2018 earnings at $0.17 EPS, Q4 2018 earnings at $0.23 EPS, FY2018 earnings at $0.73 EPS, Q1 2019 earnings at $0.17 EPS, Q2 2019 earnings at $0.17 EPS, Q3 2019 earnings at $0.18 EPS, Q4 2019 earnings at $0.22 EPS and FY2019 earnings at $0.75 EPS.
Gladstone Investment Corporation (NASDAQ:GAIN) last posted its earnings results on Monday, May 15th. The investment management company reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The company had revenue of $12.36 million for the quarter, compared to the consensus estimate of $12.94 million. Gladstone Investment Corporation had a net margin of 86.29% and a return on equity of 7.55%.
A number of other equities research analysts have also weighed in on the company. Zacks Investment Research lowered Gladstone Investment Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, May 18th. Jefferies Group LLC restated a “hold” rating and set a $9.00 price target on shares of Gladstone Investment Corporation in a research note on Friday, May 12th.
Gladstone Investment Corporation (NASDAQ:GAIN) opened at 9.45 on Friday. The company has a market cap of $305.90 million, a PE ratio of 6.39 and a beta of 0.71. Gladstone Investment Corporation has a 1-year low of $7.00 and a 1-year high of $9.84. The firm’s 50-day moving average is $9.29 and its 200 day moving average is $8.97.
The firm also recently declared a special dividend, which was paid on Thursday, June 15th. Stockholders of record on Monday, June 5th were paid a dividend of $0.06 per share. This is a positive change from Gladstone Investment Corporation’s previous special dividend of $0.05. The ex-dividend date was Thursday, June 1st. This represents a dividend yield of 8.26%. Gladstone Investment Corporation’s payout ratio is presently 51.33%.
In other news, CEO David Gladstone bought 24,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The shares were purchased at an average price of $9.25 per share, for a total transaction of $222,000.00. Following the completion of the transaction, the chief executive officer now directly owns 625,973 shares in the company, valued at $5,790,250.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.10% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of the stock. Eagle Global Advisors LLC raised its stake in shares of Gladstone Investment Corporation by 34.9% in the first quarter. Eagle Global Advisors LLC now owns 19,973 shares of the investment management company’s stock worth $181,000 after buying an additional 5,170 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of Gladstone Investment Corporation by 75.2% in the first quarter. Mackenzie Financial Corp now owns 28,025 shares of the investment management company’s stock worth $254,000 after buying an additional 12,025 shares in the last quarter. Oxford Asset Management purchased a new stake in shares of Gladstone Investment Corporation during the first quarter worth approximately $303,000. Goldman Sachs Group Inc. raised its stake in shares of Gladstone Investment Corporation by 10.7% in the first quarter. Goldman Sachs Group Inc. now owns 39,927 shares of the investment management company’s stock worth $362,000 after buying an additional 3,867 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Gladstone Investment Corporation by 7.3% in the first quarter. Wells Fargo & Company MN now owns 39,983 shares of the investment management company’s stock worth $363,000 after buying an additional 2,731 shares in the last quarter. Hedge funds and other institutional investors own 19.39% of the company’s stock.
Gladstone Investment Corporation Company Profile
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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