Gladstone Investment Corporation (NASDAQ:GAIN) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Friday.
GAIN has been the topic of a number of other research 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. Wedbush began coverage on shares of Gladstone Investment Corporation in a report on Wednesday, June 14th. They set an “outperform” rating and a $10.00 price target on the stock. Finally, Jefferies Group LLC restated a “hold” rating and set a $9.00 price target on shares of Gladstone Investment Corporation in a report on Friday, July 14th.
Gladstone Investment Corporation (NASDAQ GAIN) traded down 0.95% during midday trading on Friday, reaching $9.35. The company had a trading volume of 98,806 shares. Gladstone Investment Corporation has a 52-week low of $7.16 and a 52-week high of $9.84. The company’s 50 day moving average is $9.49 and its 200-day moving average is $9.23.
Gladstone Investment Corporation (NASDAQ:GAIN) last released its quarterly earnings results on Tuesday, August 1st. The investment management company reported $0.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.17. The business had revenue of $13.62 million for the quarter, compared to the consensus estimate of $13.01 million. Gladstone Investment Corporation had a net margin of 55.52% and a return on equity of 6.95%. Analysts anticipate that Gladstone Investment Corporation will post $0.70 EPS for the current fiscal year.
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In other Gladstone Investment Corporation news, CEO David Gladstone purchased 24,000 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were acquired at an average price 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 $5,790,250.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.40% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GAIN. Stratos Wealth Partners LTD. increased its position in Gladstone Investment Corporation by 19.5% in the second quarter. Stratos Wealth Partners LTD. now owns 14,614 shares of the investment management company’s stock worth $137,000 after buying an additional 2,382 shares in the last quarter. Crow Point Partners LLC purchased a new position in shares of Gladstone Investment Corporation during the second quarter valued at approximately $140,000. Eagle Global Advisors LLC increased its position in shares of 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. Mackenzie Financial Corp increased its position in shares of Gladstone Investment Corporation by 75.2% in the first quarter. Mackenzie Financial Corp now owns 28,025 shares of the investment management company’s stock valued at $254,000 after buying an additional 12,025 shares during the period. Finally, Oxford Asset Management purchased a new position in shares of Gladstone Investment Corporation during the first quarter valued at approximately $303,000. Institutional investors and hedge funds own 20.16% of the company’s stock.
Gladstone Investment Corporation 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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