Wall Street analysts expect that Gladstone Investment Co. (NASDAQ:GAIN) will post sales of $14.20 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Gladstone Investment’s earnings, with estimates ranging from $14.14 million to $14.25 million. Gladstone Investment reported sales of $12.36 million in the same quarter last year, which indicates a positive year over year growth rate of 14.9%. The business is expected to report its next earnings results on Monday, May 21st.
On average, analysts expect that Gladstone Investment will report full-year sales of $14.20 million for the current year, with estimates ranging from $57.08 million to $57.19 million. For the next financial year, analysts anticipate that the business will report sales of $60.43 million per share, with estimates ranging from $57.19 million to $63.67 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Gladstone Investment.
Gladstone Investment (NASDAQ:GAIN) last posted its quarterly earnings data on Tuesday, February 6th. The investment management company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.05. Gladstone Investment had a return on equity of 7.46% and a net margin of 87.19%. The company had revenue of $16.18 million during the quarter, compared to analysts’ expectations of $13.42 million.
In other news, Director Walter H. Wilkinson bought 5,730 shares of the stock in a transaction on Tuesday, November 28th. The stock was acquired at an average cost of $10.84 per share, for a total transaction of $62,113.20. Following the acquisition, the director now owns 14,416 shares of the company’s stock, valued at $156,269.44. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.40% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of the business. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Gladstone Investment by 4.0% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 358,542 shares of the investment management company’s stock worth $3,403,000 after buying an additional 13,932 shares during the period. Outfitter Advisors LTD. lifted its holdings in shares of Gladstone Investment by 2.8% in the 4th quarter. Outfitter Advisors LTD. now owns 249,915 shares of the investment management company’s stock worth $2,789,000 after buying an additional 6,750 shares during the period. BlackRock Inc. lifted its holdings in shares of Gladstone Investment by 9.0% in the 4th quarter. BlackRock Inc. now owns 208,736 shares of the investment management company’s stock worth $2,329,000 after buying an additional 17,156 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Gladstone Investment by 3.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 185,444 shares of the investment management company’s stock worth $1,760,000 after buying an additional 6,583 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in shares of Gladstone Investment by 49.5% in the 4th quarter. California Public Employees Retirement System now owns 122,600 shares of the investment management company’s stock worth $1,368,000 after buying an additional 40,600 shares during the period. Institutional investors and hedge funds own 17.16% of the company’s stock.
Gladstone Investment (GAIN) traded down $0.06 on Thursday, reaching $9.99. The company had a trading volume of 154,759 shares, compared to its average volume of 321,851. Gladstone Investment has a one year low of $8.45 and a one year high of $11.50. The stock has a market cap of $324.93, a PE ratio of 6.57 and a beta of 0.55.
The company also recently announced a monthly dividend, which will be paid on Friday, March 30th. Shareholders of record on Tuesday, March 20th will be issued a $0.065 dividend. This represents a $0.78 annualized dividend and a dividend yield of 7.81%. The ex-dividend date of this dividend is Monday, March 19th. Gladstone Investment’s dividend payout ratio is 51.32%.
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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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