Gladstone Investment Corporation (GAIN) Upgraded to “Hold” at Zacks Investment Research
Gladstone Investment Corporation (NASDAQ:GAIN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.
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. “
GAIN has been the subject of a number of other reports. Jefferies Group LLC reaffirmed a “hold” rating and issued a $9.00 target price on shares of Gladstone Investment Corporation in a report on Friday, May 12th. BidaskClub cut shares of Gladstone Investment Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Wedbush started coverage on shares of Gladstone Investment Corporation in a report on Wednesday, June 14th. They issued an “outperform” rating and a $10.00 target price for the company. Finally, ValuEngine cut shares of Gladstone Investment Corporation from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $9.50.
Gladstone Investment Corporation (NASDAQ GAIN) traded up 0.54% during midday trading on Friday, reaching $9.26. The company’s stock had a trading volume of 137,734 shares. Gladstone Investment Corporation has a 52 week low of $7.16 and a 52 week high of $9.84. The company’s 50-day moving average is $9.46 and its 200 day moving average is $9.28.
Gladstone Investment Corporation (NASDAQ:GAIN) last issued its earnings results on Tuesday, August 1st. The investment management company reported $0.17 earnings per share (EPS) for the quarter, meeting 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 company had revenue of $13.62 million during the quarter, compared to analysts’ expectations of $13.01 million. Equities research analysts anticipate that Gladstone Investment Corporation will post $0.70 EPS for the current year.
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In other news, CEO David Gladstone bought 24,000 shares of the stock in a transaction on Wednesday, June 14th. The stock was purchased 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 of the company’s stock, 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. Company insiders own 2.40% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in GAIN. Bank of Montreal Can purchased a new stake in Gladstone Investment Corporation during the second quarter valued at approximately $3,422,000. UBS Group AG boosted its stake in Gladstone Investment Corporation by 21.9% in the first quarter. UBS Group AG now owns 746,477 shares of the investment management company’s stock valued at $6,770,000 after buying an additional 134,165 shares during the last quarter. Advantage Investment Management LLC purchased a new stake in Gladstone Investment Corporation during the first quarter valued at approximately $1,102,000. GSA Capital Partners LLP boosted its stake in Gladstone Investment Corporation by 72.6% in the second quarter. GSA Capital Partners LLP now owns 242,700 shares of the investment management company’s stock valued at $2,281,000 after buying an additional 102,100 shares during the last quarter. Finally, Garner Asset Management Corp purchased a new stake in Gladstone Investment Corporation during the second quarter valued at approximately $521,000. 18.09% of the stock is owned by hedge funds and other institutional investors.
About Gladstone Investment Corporation
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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