Zacks Investment Research lowered shares of Gladstone Investment (NASDAQ:GAIN) from a buy rating to a hold rating in a research report report published 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. “
GAIN has been the topic of several other research reports. BidaskClub lowered Gladstone Investment from a strong-buy rating to a buy rating in a report on Tuesday, January 23rd. ValuEngine upgraded Gladstone Investment from a buy rating to a strong-buy rating in a report on Sunday, December 31st. Wedbush upgraded Gladstone Investment from a neutral rating to an outperform rating and increased their price target for the stock from $9.56 to $11.00 in a report on Tuesday, March 6th. Finally, Ladenburg Thalmann upgraded Gladstone Investment from a neutral rating to a buy rating in a report on Wednesday, February 7th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Buy and an average target price of $10.67.
Gladstone Investment (NASDAQ:GAIN) last announced its quarterly earnings results on Tuesday, February 6th. The investment management company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.05. The business had revenue of $16.18 million for the quarter, compared to analyst estimates of $13.42 million. Gladstone Investment had a return on equity of 7.46% and a net margin of 87.19%. equities analysts expect that Gladstone Investment will post 0.77 EPS for the current year.
The company also recently declared a special dividend, which will be paid on Friday, June 15th. Shareholders of record on Wednesday, June 6th will be issued a $0.06 dividend. The ex-dividend date is Tuesday, June 5th. This represents a yield of 7.69%. Gladstone Investment’s payout ratio is currently 105.41%.
In related news, President David A. R. Dullum bought 5,000 shares of the company’s stock in a transaction dated Monday, March 5th. The shares were bought at an average price of $9.56 per share, for a total transaction of $47,800.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.40% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Gladstone Investment by 4.0% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 358,542 shares of the investment management company’s stock valued at $3,403,000 after purchasing an additional 13,932 shares in the last quarter. Outfitter Advisors LTD. lifted its holdings in shares of Gladstone Investment by 2.8% in the fourth quarter. Outfitter Advisors LTD. now owns 249,915 shares of the investment management company’s stock valued at $2,789,000 after purchasing an additional 6,750 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Gladstone Investment by 9.0% in the fourth quarter. BlackRock Inc. now owns 208,736 shares of the investment management company’s stock valued at $2,329,000 after purchasing an additional 17,156 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Gladstone Investment by 3.7% in the third quarter. Janney Montgomery Scott LLC now owns 185,444 shares of the investment management company’s stock valued at $1,760,000 after purchasing an additional 6,583 shares in the last quarter. Finally, California Public Employees Retirement System lifted its holdings in shares of Gladstone Investment by 49.5% in the fourth quarter. California Public Employees Retirement System now owns 122,600 shares of the investment management company’s stock valued at $1,368,000 after purchasing an additional 40,600 shares in the last quarter. Institutional investors own 16.78% of the company’s stock.
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Gladstone Investment 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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