Zacks Investment Research Upgrades Gladstone Investment Corporation (GAIN) to “Hold”
Gladstone Investment Corporation (NASDAQ:GAIN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
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. “
Other equities research analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Gladstone Investment Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. ValuEngine upgraded shares of Gladstone Investment Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Jefferies Group LLC reiterated a “hold” rating and issued a $9.00 price target on shares of Gladstone Investment Corporation in a report on Wednesday, August 16th. Finally, 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 price target for the company. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Gladstone Investment Corporation has an average rating of “Hold” and an average target price of $9.50.
Shares of Gladstone Investment Corporation (NASDAQ:GAIN) opened at 9.53 on Tuesday. The company’s 50-day moving average is $9.31 and its 200-day moving average is $9.32. Gladstone Investment Corporation has a one year low of $7.16 and a one year high of $9.84.
Gladstone Investment Corporation (NASDAQ:GAIN) last issued its earnings results on Tuesday, August 1st. The investment management company reported $0.17 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.17. Gladstone Investment Corporation had a net margin of 55.52% and a return on equity of 6.95%. The firm had revenue of $13.62 million during the quarter, compared to the consensus estimate of $13.01 million. On average, analysts forecast that Gladstone Investment Corporation will post $0.70 EPS for the current fiscal year.
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A number of institutional investors and hedge funds have recently made changes to their positions in the stock. WFG Advisors LP boosted its holdings in Gladstone Investment Corporation by 97.7% during the second quarter. WFG Advisors LP now owns 60,928 shares of the investment management company’s stock worth $573,000 after purchasing an additional 30,102 shares during the last quarter. Susquehanna International Group LLP acquired a new stake in Gladstone Investment Corporation in the second quarter valued at $293,000. Royal Bank of Canada lifted its stake in Gladstone Investment Corporation by 0.4% in the second quarter. Royal Bank of Canada now owns 24,110 shares of the investment management company’s stock valued at $227,000 after acquiring an additional 106 shares during the last quarter. Garner Asset Management Corp acquired a new stake in Gladstone Investment Corporation in the second quarter valued at $521,000. Finally, Tudor Investment Corp ET AL lifted its stake in Gladstone Investment Corporation by 10.7% in the second quarter. Tudor Investment Corp ET AL now owns 11,952 shares of the investment management company’s stock valued at $112,000 after acquiring an additional 1,152 shares during the last quarter. Institutional investors and hedge funds own 18.09% 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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