Gladstone Investment Corporation Expected to Post FY2018 Earnings of $0.72 Per Share (NASDAQ:GAIN)
Gladstone Investment Corporation (NASDAQ:GAIN) – Analysts at Jefferies Group dropped their FY2018 earnings per share (EPS) estimates for shares of Gladstone Investment Corporation in a research note issued to investors on Wednesday. Jefferies Group analyst K. Joseph now expects that the investment management company will earn $0.72 per share for the year, down from their previous forecast of $0.73. Jefferies Group has a “Hold” rating and a $9.00 price objective on the stock. Jefferies Group also issued estimates for Gladstone Investment Corporation’s Q1 2019 earnings at $0.19 EPS and Q4 2019 earnings at $0.20 EPS.
Gladstone Investment Corporation (NASDAQ:GAIN) last posted its quarterly earnings results on Tuesday, August 1st. The investment management company reported $0.17 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.17. Gladstone Investment Corporation had a net margin of 55.52% and a return on equity of 6.95%. The business had revenue of $13.62 million for the quarter, compared to the consensus estimate of $13.01 million. WARNING: “Gladstone Investment Corporation Expected to Post FY2018 Earnings of $0.72 Per Share (NASDAQ:GAIN)” was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this report on another website, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright law. The correct version of this report can be read at https://www.thecerbatgem.com/2017/08/04/gladstone-investment-corporation-expected-to-post-fy2018-earnings-of-0-72-per-share-nasdaqgain.html.
Several other research analysts have also weighed in on GAIN. Zacks Investment Research lowered shares of Gladstone Investment Corporation from a “hold” rating to a “sell” rating in a research note on Thursday. BidaskClub downgraded shares of Gladstone Investment Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Wedbush assumed coverage on shares of Gladstone Investment Corporation in a report on Wednesday, June 14th. They issued an “outperform” rating and a $10.00 price objective for the company.
Shares of Gladstone Investment Corporation (NASDAQ:GAIN) traded up 0.52% during midday trading on Thursday, reaching $9.72. 186,480 shares of the company were exchanged. The stock has a 50-day moving average price of $9.42 and a 200 day moving average price of $9.20. Gladstone Investment Corporation has a 52-week low of $7.16 and a 52-week high of $9.84.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. KCG Holdings Inc. acquired a new position in Gladstone Investment Corporation during the first quarter worth $407,000. Wells Fargo & Company MN increased 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 valued at $363,000 after buying an additional 2,731 shares in the last quarter. Eagle Global Advisors LLC increased 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 valued at $181,000 after buying an additional 5,170 shares in the last quarter. Crow Point Partners LLC purchased a new stake in shares of Gladstone Investment Corporation during the second quarter valued at approximately $140,000. Finally, Van ECK Associates Corp increased its stake in shares of Gladstone Investment Corporation by 29.0% in the first quarter. Van ECK Associates Corp now owns 231,482 shares of the investment management company’s stock valued at $2,100,000 after buying an additional 52,066 shares in the last quarter. 20.16% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO David Gladstone acquired 24,000 shares of Gladstone Investment Corporation stock in a transaction dated Wednesday, June 14th. The shares were bought at an average cost of $9.25 per share, with a total value of $222,000.00. Following the purchase, the chief executive officer now owns 625,973 shares in the company, valued at approximately $5,790,250.25. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.40% of the company’s stock.
The company also recently disclosed a monthly dividend, which will be paid on Friday, September 29th. Stockholders of record on Wednesday, September 20th will be paid a $0.064 dividend. This represents a $0.77 dividend on an annualized basis and a dividend yield of 7.90%. The ex-dividend date is Tuesday, September 19th. Gladstone Investment Corporation’s dividend payout ratio is currently 82.80%.
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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