Brokerages forecast that Gladstone Investment Corporation (NASDAQ:GAIN) will post $0.18 earnings per share for the current quarter, Zacks reports. Three analysts have issued estimates for Gladstone Investment Corporation’s earnings. The highest EPS estimate is $0.19 and the lowest is $0.16. Gladstone Investment Corporation posted earnings of $0.23 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 21.7%. The company is scheduled to issue its next quarterly earnings report after the market closes on Tuesday, August 1st.
On average, analysts expect that Gladstone Investment Corporation will report full-year earnings of $0.72 per share for the current fiscal year, with EPS estimates ranging from $0.69 to $0.74. For the next year, analysts forecast that the company will post earnings of $0.74 per share, with EPS estimates ranging from $0.73 to $0.75. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Gladstone Investment Corporation.
Gladstone Investment Corporation (NASDAQ:GAIN) last released its earnings results on Monday, May 15th. The investment management company reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.01. Gladstone Investment Corporation had a return on equity of 7.55% and a net margin of 86.29%. The business had revenue of $12.36 million for the quarter, compared to analysts’ expectations of $12.94 million.
Several analysts have recently commented on GAIN shares. Zacks Investment Research raised Gladstone Investment Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, March 22nd. Jefferies Group LLC reaffirmed a “hold” rating and issued a $9.00 target price on shares of Gladstone Investment Corporation in a research report on Wednesday, April 12th. Finally, Wedbush started coverage on Gladstone Investment Corporation in a research report on Wednesday, June 14th. They issued an “outperform” rating and a $10.00 target price for the company.
Gladstone Investment Corporation (GAIN) traded up 0.11% during trading on Friday, reaching $9.45. The company had a trading volume of 123,751 shares. The stock has a 50 day moving average price of $9.24 and a 200 day moving average price of $9.04. Gladstone Investment Corporation has a 12 month low of $7.16 and a 12 month high of $9.84.
The firm also recently announced a monthly dividend, which will be paid on Friday, September 29th. Stockholders of record on Wednesday, September 20th will be given a $0.064 dividend. The ex-dividend date is Tuesday, September 19th. This represents a $0.77 annualized dividend and a dividend yield of 8.13%. Gladstone Investment Corporation’s dividend payout ratio (DPR) is presently 51.33%.
In other Gladstone Investment Corporation news, CEO David Gladstone bought 24,000 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was acquired at an average price 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 approximately $5,790,250.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.40% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can purchased a new stake in Gladstone Investment Corporation during the second quarter worth about $3,422,000. UBS Group AG boosted 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 last quarter. Advantage Investment Management LLC purchased a new stake in Gladstone Investment Corporation during the first quarter worth about $1,102,000. Advisors Asset Management Inc. boosted 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 last quarter. Finally, Van ECK Associates Corp boosted 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 last quarter. 20.05% of the stock is owned by hedge funds and other institutional investors.
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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