Gladstone Investment (GAIN) Cut to Neutral at Wedbush

Gladstone Investment (NASDAQ:GAIN) was downgraded by investment analysts at Wedbush from an “outperform” rating to a “neutral” rating in a research report issued on Monday, November 20th, Marketbeat.com reports. They presently have a $11.00 price objective on the investment management company’s stock, up from their prior price objective of $10.50. Wedbush’s target price would suggest a potential upside of 2.04% from the company’s current price.

Several other research firms also recently weighed in on GAIN. Zacks Investment Research upgraded Gladstone Investment from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Monday, November 6th. ValuEngine upgraded Gladstone Investment from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 4th. BidaskClub downgraded Gladstone Investment from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Finally, Jefferies Group restated a “hold” rating and issued a $9.00 price objective on shares of Gladstone Investment in a report on Wednesday, August 16th. Four investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. Gladstone Investment currently has a consensus rating of “Hold” and a consensus target price of $11.00.

Gladstone Investment (NASDAQ:GAIN) traded down $0.09 during mid-day trading on Monday, hitting $10.78. 111,717 shares of the company were exchanged, compared to its average volume of 167,674. Gladstone Investment has a 1 year low of $8.10 and a 1 year high of $11.17. The stock has a market capitalization of $352.91, a price-to-earnings ratio of 15.73 and a beta of 0.72.

Gladstone Investment (NASDAQ:GAIN) last posted its earnings results on Wednesday, November 1st. The investment management company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $13.13 million during the quarter, compared to analyst estimates of $12.22 million. Gladstone Investment had a net margin of 80.07% and a return on equity of 6.95%. sell-side analysts expect that Gladstone Investment will post 0.71 EPS for the current fiscal year.

In other Gladstone Investment news, Director Walter H. Wilkinson purchased 5,730 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were acquired at an average price of $10.84 per share, for a total transaction of $62,113.20. Following the completion of the purchase, the director now owns 14,416 shares of the company’s stock, valued at $156,269.44. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 2.40% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tudor Investment Corp ET AL boosted its position in Gladstone Investment by 10.7% in the second quarter. Tudor Investment Corp ET AL now owns 11,952 shares of the investment management company’s stock valued at $112,000 after buying an additional 1,152 shares during the last quarter. Doyle Wealth Management purchased a new stake in Gladstone Investment in the third quarter valued at approximately $113,000. Stratos Wealth Partners LTD. lifted its holdings in Gladstone Investment by 19.5% in the second quarter. Stratos Wealth Partners LTD. now owns 14,614 shares of the investment management company’s stock valued at $137,000 after acquiring an additional 2,382 shares during the period. Yellowstone Partners LLC acquired a new position in Gladstone Investment in the third quarter valued at approximately $162,000. Finally, Parametric Portfolio Associates LLC lifted its holdings in Gladstone Investment by 0.8% in the second quarter. Parametric Portfolio Associates LLC now owns 18,727 shares of the investment management company’s stock valued at $176,000 after acquiring an additional 148 shares during the period. Hedge funds and other institutional investors own 17.58% of the company’s stock.

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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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