Gladstone Investment Corporation (NASDAQ:GAIN)‘s stock had its “hold” rating reaffirmed by equities researchers at Jefferies Group LLC in a research note issued on Friday, July 14th. They presently have a $9.00 target price on the investment management company’s stock. Jefferies Group LLC’s price objective indicates a potential downside of 5.96% from the stock’s current price.
Other analysts also recently issued reports about the company. Zacks Investment Research upgraded Gladstone Investment Corporation from a “sell” rating to a “hold” rating in a research report on Friday, March 31st. Wedbush began coverage on Gladstone Investment Corporation in a research report on Wednesday, June 14th. They set an “outperform” rating and a $10.00 target price for the company.
Gladstone Investment Corporation (NASDAQ:GAIN) traded up 0.63% on Friday, reaching $9.57. The company’s stock had a trading volume of 369,992 shares. Gladstone Investment Corporation has a 12 month low of $7.16 and a 12 month high of $9.84. The company has a 50-day moving average price of $9.39 and a 200 day moving average price of $9.17.
Gladstone Investment Corporation (NASDAQ:GAIN) last released its earnings results on Monday, May 15th. The investment management company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by $0.01. The company had revenue of $12.36 million for the quarter, compared to the consensus estimate of $12.94 million. Gladstone Investment Corporation had a net margin of 86.29% and a return on equity of 7.55%. On average, analysts forecast that Gladstone Investment Corporation will post $0.72 earnings per share for the current fiscal year.
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In other Gladstone Investment Corporation news, CEO David Gladstone purchased 24,000 shares of the stock in a transaction dated Wednesday, June 14th. The stock was bought at an average price of $9.25 per share, with a total value of $222,000.00. Following the acquisition, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.40% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of GAIN. Advisors Asset Management Inc. boosted its position in Gladstone Investment Corporation by 7.3% in the first quarter. Advisors Asset Management Inc. now owns 795,167 shares of the investment management company’s stock worth $7,212,000 after buying an additional 54,169 shares during the period. UBS Group AG boosted its position 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 worth $6,770,000 after buying an additional 134,165 shares during the period. LSV Asset Management boosted its position in Gladstone Investment Corporation by 5.3% in the first quarter. LSV Asset Management now owns 496,499 shares of the investment management company’s stock worth $4,503,000 after buying an additional 24,983 shares during the period. Bank of Montreal Can acquired a new position in Gladstone Investment Corporation during the second quarter worth approximately $3,422,000. Finally, Van ECK Associates Corp boosted its position in 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 worth $2,100,000 after buying an additional 52,066 shares during the period. 20.17% of the stock is owned by 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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