GSV Capital Corp (GSVC) to Buyback $5.00 million in Stock
GSV Capital Corp (NASDAQ:GSVC) declared that its board has approved a share repurchase program, which allows the company to repurchase $5.00 million in outstanding shares on Wednesday, November 8th, EventVestor reports. This repurchase authorization allows the investment management company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
Separately, ValuEngine upgraded GSV Capital Corp from a “hold” rating to a “buy” rating in a research note on Friday, September 1st.
GSV Capital Corp (NASDAQ:GSVC) opened at $6.33 on Tuesday. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.36. GSV Capital Corp has a 12 month low of $3.83 and a 12 month high of $6.57.
In other GSV Capital Corp news, Director Leonard Potter acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were acquired at an average cost of $5.17 per share, for a total transaction of $51,700.00. Following the completion of the purchase, the director now owns 34,333 shares of the company’s stock, valued at approximately $177,501.61. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders bought 71,772 shares of company stock worth $365,902 over the last quarter. 0.70% of the stock is currently owned by corporate insiders.
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GSV Capital Corp Company Profile
GSV Capital Corp. (GSV Capital) is an externally managed, non-diversified closed-end management investment company. The Company’s investment objective is to maximize its portfolio’s total return, principally by seeking capital gains on its equity and equity-related investments. The Company invests principally in the equity securities, which are venture-capital-backed emerging companies.
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