Wedbush assumed coverage on shares of Gladstone Investment Corporation (NASDAQ:GAIN) in a report issued on Wednesday, MarketBeat.com reports. The brokerage issued an outperform rating and a $10.00 target price on the investment management company’s stock.
A number of other equities analysts have also commented on the company. Zacks Investment Research lowered Gladstone Investment Corporation from a hold rating to a sell rating in a research note on Thursday, May 18th. Jefferies Group LLC reiterated a hold rating and issued a $9.00 price objective on shares of Gladstone Investment Corporation in a research note on Friday, May 12th.
Gladstone Investment Corporation (NASDAQ:GAIN) opened at 9.35 on Wednesday. Gladstone Investment Corporation has a one year low of $7.00 and a one year high of $9.84. The company has a 50-day moving average price of $9.28 and a 200-day moving average price of $8.99.
Gladstone Investment Corporation (NASDAQ:GAIN) last posted its quarterly earnings data on Monday, May 15th. The investment management company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by $0.01. The business had revenue of $12.36 million during the quarter, compared to the consensus estimate of $12.94 million. Gladstone Investment Corporation had a return on equity of 7.55% and a net margin of 86.29%. Equities analysts anticipate that Gladstone Investment Corporation will post $0.72 earnings per share for the current fiscal year.
The company also recently announced a special dividend, which was paid on Thursday, June 15th. Investors of record on Monday, June 5th were given a dividend of $0.06 per share. The ex-dividend date was Thursday, June 1st. This is an increase from Gladstone Investment Corporation’s previous special dividend of $0.05. This represents a yield of 8.26%. Gladstone Investment Corporation’s dividend payout ratio (DPR) is 51.33%.
In other news, CEO David Gladstone bought 24,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The shares were acquired at an average cost of $9.25 per share, with a total value of $222,000.00. Following the completion of the transaction, the chief executive officer now directly owns 625,973 shares in the company, valued at $5,790,250.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.10% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in GAIN. Advisors Asset Management Inc. increased its stake 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 increased its stake 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 increased its stake 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. Ladenburg Thalmann Financial Services Inc. increased its stake in Gladstone Investment Corporation by 268.2% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 313,758 shares of the investment management company’s stock worth $2,655,000 after buying an additional 228,546 shares during the period. Finally, Van ECK Associates Corp increased its stake 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. 19.39% of the stock is currently owned by institutional investors and hedge funds.
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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