GSV Capital Corp (GSVC) Board Declares Share Buyback Plan

GSV Capital Corp (NASDAQ:GSVC) announced that its board has initiated a share buyback plan, which allows the company to repurchase $5.00 million in shares on Tuesday, August 8th, EventVestor reports. This repurchase authorization allows the investment management company to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Shares of GSV Capital Corp (NASDAQ:GSVC) opened at 4.42 on Thursday. GSV Capital Corp has a 12-month low of $3.83 and a 12-month high of $5.80. The firm has a 50-day moving average of $4.20 and a 200-day moving average of $4.69.

GSV Capital Corp (NASDAQ:GSVC) last posted its quarterly earnings data on Tuesday, August 8th. The investment management company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by $0.07. The company had revenue of $370.59 million for the quarter. On average, analysts anticipate that GSV Capital Corp will post $0.25 earnings per share for the current year.

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About GSV Capital Corp

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.