Analysts expect Gladstone Investment Corporation (NASDAQ:GAIN) to report sales of $12.22 million for the current quarter, Zacks reports. Three analysts have made estimates for Gladstone Investment Corporation’s earnings, with the highest sales estimate coming in at $12.83 million and the lowest estimate coming in at $11.80 million. Gladstone Investment Corporation posted sales of $11.74 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.1%. The business is scheduled to issue its next quarterly earnings results on Wednesday, November 1st.
According to Zacks, analysts expect that Gladstone Investment Corporation will report full-year sales of $12.22 million for the current fiscal year, with estimates ranging from $51.59 million to $54.30 million. For the next financial year, analysts anticipate that the business will post sales of $58.31 million per share, with estimates ranging from $57.50 million to $59.11 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Gladstone Investment Corporation.
Gladstone Investment Corporation (NASDAQ:GAIN) last announced its quarterly earnings results on Tuesday, August 1st. The investment management company reported $0.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.17. Gladstone Investment Corporation had a net margin of 55.52% and a return on equity of 6.95%. The firm had revenue of $13.62 million during the quarter, compared to analysts’ expectations of $13.01 million.
GAIN has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Gladstone Investment Corporation from a “sell” rating to a “hold” rating in a report on Friday, September 1st. ValuEngine upgraded shares of Gladstone Investment Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub downgraded shares of Gladstone Investment Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. 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. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $9.50.
Shares of Gladstone Investment Corporation (NASDAQ GAIN) opened at 9.81 on Friday. Gladstone Investment Corporation has a 12 month low of $7.16 and a 12 month high of $9.98. The company’s 50-day moving average is $9.45 and its 200-day moving average is $9.39.
The firm also recently declared a special dividend, which will be paid on Friday, December 15th. Stockholders of record on Tuesday, December 5th will be issued a dividend of $0.06 per share. The ex-dividend date is Monday, December 4th. This represents a dividend yield of 7.93%. Gladstone Investment Corporation’s dividend payout ratio is currently 82.80%.
Several institutional investors have recently added to or reduced their stakes in GAIN. Tudor Investment Corp ET AL raised its holdings in shares of Gladstone Investment Corporation by 10.7% during the 2nd quarter. Tudor Investment Corp ET AL now owns 11,952 shares of the investment management company’s stock valued at $112,000 after purchasing an additional 1,152 shares in the last quarter. Stratos Wealth Partners LTD. grew its stake in Gladstone Investment Corporation by 19.5% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 14,614 shares of the investment management company’s stock valued at $137,000 after buying an additional 2,382 shares during the last quarter. Crow Point Partners LLC acquired a new position in Gladstone Investment Corporation in the 2nd quarter valued at $140,000. Parametric Portfolio Associates LLC grew its stake in Gladstone Investment Corporation by 0.8% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 18,727 shares of the investment management company’s stock valued at $176,000 after buying an additional 148 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in Gladstone Investment Corporation by 0.4% in the 2nd quarter. Royal Bank of Canada now owns 24,110 shares of the investment management company’s stock valued at $227,000 after buying an additional 106 shares during the last quarter. Institutional investors and hedge funds own 17.97% of the company’s stock.
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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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