Jefferies Group LLC reissued their hold rating on shares of Gladstone Investment Co. (NASDAQ:GAIN) in a research report report published on Friday morning. The firm currently has a $9.00 target price on the investment management company’s stock.
Separately, Zacks Investment Research upgraded Gladstone Investment from a sell rating to a hold rating in a report on Friday, March 31st.
Gladstone Investment (NASDAQ:GAIN) opened at 9.112 on Friday. Gladstone Investment has a 1-year low of $6.70 and a 1-year high of $9.84. The firm has a market capitalization of $275.82 million, a price-to-earnings ratio of 4.756 and a beta of 0.60. The company has a 50-day moving average price of $9.32 and a 200 day moving average price of $8.79.
Gladstone Investment (NASDAQ:GAIN) last issued its earnings results on Monday, May 15th. The investment management company reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The business had revenue of $12.36 million during the quarter, compared to analyst estimates of $12.94 million. Gladstone Investment had a return on equity of 7.55% and a net margin of 111.65%. Equities analysts anticipate that Gladstone Investment will post $0.71 earnings per share for the current year.
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The company also recently disclosed a special dividend, which will be paid on Thursday, June 15th. Investors of record on Monday, June 5th will be issued a dividend of $0.06 per share. This represents a dividend yield of 8.26%. This is a positive change from Gladstone Investment’s previous special dividend of $0.05. The ex-dividend date of this dividend is Thursday, June 1st. Gladstone Investment’s dividend payout ratio (DPR) is currently 38.66%.
In other news, President David A. R. Dullum acquired 9,000 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The stock was acquired at an average cost of $8.65 per share, for a total transaction of $77,850.00. Following the completion of the acquisition, the president now owns 75,316 shares in the company, valued at $651,483.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Gladstone acquired 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The shares were purchased at an average price of $8.70 per share, with a total value of $43,500.00. Following the completion of the acquisition, the chief executive officer now owns 621,973 shares of the company’s stock, valued at approximately $5,411,165.10. The disclosure for this purchase can be found here. 3.10% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in GAIN. Acrospire Investment Management LLC purchased a new stake in shares of Gladstone Investment during the third quarter valued at about $110,000. Eagle Global Advisors LLC purchased a new stake in shares of Gladstone Investment during the third quarter valued at about $118,000. Two Sigma Securities LLC purchased a new stake in shares of Gladstone Investment during the third quarter valued at about $134,000. Mackenzie Financial Corp raised its stake in shares of Gladstone Investment 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 in the last quarter. Finally, Oxford Asset Management purchased a new stake in shares of Gladstone Investment during the first quarter valued at about $303,000. Institutional investors and hedge funds own 19.39% of the company’s stock.
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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