Gladstone Investment Corporation (GAIN) Upgraded to “Buy” at ValuEngine
Gladstone Investment Corporation (NASDAQ:GAIN) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.
Other analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Gladstone Investment Corporation from a “sell” rating to a “hold” rating in a research note on Friday. 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 Wednesday, August 16th. BidaskClub lowered shares of Gladstone Investment Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Finally, Wedbush began coverage on shares of Gladstone Investment Corporation in a research note on Wednesday, June 14th. They set an “outperform” rating and a $10.00 price target for the company. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $9.50.
Shares of Gladstone Investment Corporation (NASDAQ GAIN) traded up 0.54% on Friday, reaching $9.26. 137,734 shares of the company traded hands. Gladstone Investment Corporation has a one year low of $7.16 and a one year high of $9.84. The firm has a 50-day moving average price of $9.46 and a 200 day moving average price of $9.28.
Gladstone Investment Corporation (NASDAQ:GAIN) last announced its quarterly earnings results on Tuesday, August 1st. The investment management company reported $0.17 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.17. The business had revenue of $13.62 million during the quarter, compared to analyst estimates of $13.01 million. Gladstone Investment Corporation had a net margin of 55.52% and a return on equity of 6.95%. Analysts forecast that Gladstone Investment Corporation will post $0.70 EPS for the current fiscal year.
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In other news, CEO David Gladstone bought 24,000 shares of Gladstone Investment Corporation stock in a transaction dated Wednesday, June 14th. The stock was purchased at an average price of $9.25 per share, for a total transaction of $222,000.00. Following the purchase, the chief executive officer now directly owns 625,973 shares in the company, valued at approximately $5,790,250.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.40% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Bank of Montreal Can purchased a new stake in Gladstone Investment Corporation during the second quarter valued at about $3,422,000. UBS Group AG raised 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 about $1,102,000. GSA Capital Partners LLP raised 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 about $521,000. Hedge funds and other institutional investors own 18.09% of the company’s stock.
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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