GSV Capital Corp (NASDAQ:GSVC) announced its quarterly earnings results on Tuesday, August 8th. The investment management company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by $0.07, Morningstar.com reports. The business had revenue of $370.59 million during the quarter. GSV Capital Corp had a negative return on equity of 5.43% and a negative net margin of 6.40%.
GSV Capital Corp (NASDAQ GSVC) traded up 1.91% during trading on Friday, hitting $4.54. The stock had a trading volume of 70,494 shares. The stock’s 50-day moving average is $4.19 and its 200-day moving average is $4.62. GSV Capital Corp has a 52-week low of $3.83 and a 52-week high of $5.61.
GSV Capital Corp declared that its board has initiated a stock repurchase program on Tuesday, August 8th that authorizes the company to repurchase $5.00 million in shares. This repurchase authorization authorizes the investment management company to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.
A number of hedge funds have recently bought and sold shares of GSVC. Intrinsic Edge Capital Management LLC bought a new stake in GSV Capital Corp during the second quarter valued at approximately $389,000. Wells Fargo & Company MN raised its stake in GSV Capital Corp by 5.9% in the second quarter. Wells Fargo & Company MN now owns 87,301 shares of the investment management company’s stock valued at $379,000 after buying an additional 4,900 shares during the period. Oppenheimer & Co. Inc. raised its stake in GSV Capital Corp by 42.9% in the first quarter. Oppenheimer & Co. Inc. now owns 247,457 shares of the investment management company’s stock valued at $1,109,000 after buying an additional 74,300 shares during the period. UBS Group AG raised its stake in GSV Capital Corp by 7.3% in the first quarter. UBS Group AG now owns 26,138 shares of the investment management company’s stock valued at $117,000 after buying an additional 1,780 shares during the period. Finally, Wellington Management Group LLP raised its stake in GSV Capital Corp by 187.3% in the first quarter. Wellington Management Group LLP now owns 1,257,796 shares of the investment management company’s stock valued at $5,635,000 after buying an additional 820,036 shares during the period. 29.62% of the stock is currently owned by hedge funds and other institutional investors.
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GSV Capital Corp Company Profile
GSV Capital Corp. (GSV Capital) is an externally managed, non-diversified closed-end management investment company. The Company’s investment objective is to maximize its portfolio’s total return, principally by seeking capital gains on its equity and equity-related investments. The Company invests principally in the equity securities, which are venture-capital-backed emerging companies.
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