ValuEngine cut shares of Gladstone Investment Corporation (NASDAQ:GAIN) from a buy rating to a hold rating in a research report report published on Thursday morning.
GAIN has been the subject of several other reports. Zacks Investment Research downgraded shares of Gladstone Investment Corporation from a hold rating to a sell rating in a report on Thursday, May 18th. Jefferies Group LLC restated a hold rating and set a $9.00 target price on shares of Gladstone Investment Corporation in a report on Friday, May 12th. BidaskClub downgraded shares of Gladstone Investment Corporation from a strong-buy rating to a buy rating in a report on Tuesday, July 25th. Finally, Wedbush started coverage on shares of Gladstone Investment Corporation in a report on Wednesday, June 14th. They set an outperform rating and a $10.00 target price for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The company presently has an average rating of Hold and an average target price of $9.50.
Shares of Gladstone Investment Corporation (NASDAQ GAIN) opened at 9.30 on Thursday. Gladstone Investment Corporation has a 1-year low of $7.16 and a 1-year high of $9.84. The stock’s 50 day moving average is $9.51 and its 200-day moving average is $9.26.
Gladstone Investment Corporation (NASDAQ:GAIN) last posted its earnings results on Tuesday, August 1st. The investment management company reported $0.17 earnings per share 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. Equities analysts anticipate that Gladstone Investment Corporation will post $0.70 earnings per share for the current fiscal year.
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The firm also recently announced a monthly dividend, which will be paid on Friday, September 29th. Shareholders of record on Wednesday, September 20th will be issued a dividend of $0.064 per share. The ex-dividend date is Tuesday, September 19th. This represents a $0.77 annualized dividend and a yield of 8.26%. Gladstone Investment Corporation’s dividend payout ratio (DPR) is currently 82.80%.
In other Gladstone Investment Corporation news, CEO David Gladstone bought 24,000 shares of the company’s stock in a transaction on Wednesday, June 14th. The stock was purchased at an average cost of $9.25 per share, for a total transaction of $222,000.00. Following the acquisition, the chief executive officer now owns 625,973 shares of the company’s stock, valued at approximately $5,790,250.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.40% of the company’s stock.
A number of institutional investors have recently bought and sold shares of GAIN. KCG Holdings Inc. acquired a new position in Gladstone Investment Corporation during the first quarter valued at $407,000. Wells Fargo & Company MN increased its position in Gladstone Investment Corporation by 7.3% in the first quarter. Wells Fargo & Company MN now owns 39,983 shares of the investment management company’s stock valued at $363,000 after buying an additional 2,731 shares during the period. Crow Point Partners LLC acquired a new position in Gladstone Investment Corporation during the second quarter valued at $140,000. Eagle Global Advisors LLC increased its position in Gladstone Investment Corporation by 34.9% in the first quarter. Eagle Global Advisors LLC now owns 19,973 shares of the investment management company’s stock valued at $181,000 after buying an additional 5,170 shares during the period. Finally, Van ECK Associates Corp increased 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 valued at $2,100,000 after buying an additional 52,066 shares during the period. Hedge funds and other institutional investors own 20.22% 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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