Gladstone Investment (NASDAQ:GAIN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday, February 15th. The firm currently has a $12.00 target price on the investment management company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 20.12% from the stock’s previous close.
According to Zacks, “Gladstone Investment Corporation is an investment company that seeks to make equity-type investments in small and mid-sized private businesses in the U.S. “
Several other equities research analysts have also recently commented on the company. Ladenburg Thalmann Financial Services upgraded Gladstone Investment from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 7th. BidaskClub cut Gladstone Investment from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. ValuEngine upgraded Gladstone Investment from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Wedbush cut Gladstone Investment from an “outperform” rating to a “neutral” rating and increased their price objective for the stock from $10.50 to $11.00 in a research report on Monday, November 20th. Finally, Jefferies Group increased their price objective on Gladstone Investment from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, November 3rd. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $11.00.
Gladstone Investment (GAIN) traded down $0.06 during mid-day trading on Thursday, hitting $9.99. The stock had a trading volume of 154,759 shares, compared to its average volume of 321,851. Gladstone Investment has a 1-year low of $8.45 and a 1-year high of $11.50. The firm has a market capitalization of $326.89, a P/E ratio of 6.57 and a beta of 0.55.
Gladstone Investment (NASDAQ:GAIN) last released its quarterly earnings results on Tuesday, February 6th. The investment management company reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.05. Gladstone Investment had a return on equity of 7.46% and a net margin of 87.19%. The business had revenue of $16.18 million during the quarter, compared to analysts’ expectations of $13.42 million. equities analysts anticipate that Gladstone Investment will post 0.76 earnings per share for the current fiscal year.
In other news, Director Walter H. Wilkinson acquired 5,730 shares of Gladstone Investment stock in a transaction dated Tuesday, November 28th. The shares were acquired at an average cost of $10.84 per share, with a total value of $62,113.20. Following the purchase, the director now directly owns 14,416 shares of the company’s stock, valued at approximately $156,269.44. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.40% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Gladstone Investment by 4.0% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 358,542 shares of the investment management company’s stock valued at $3,403,000 after buying an additional 13,932 shares during the period. Outfitter Advisors LTD. raised its holdings in shares of Gladstone Investment by 2.8% during the 4th quarter. Outfitter Advisors LTD. now owns 249,915 shares of the investment management company’s stock valued at $2,789,000 after buying an additional 6,750 shares during the period. BlackRock Inc. raised its holdings in shares of Gladstone Investment by 9.0% during the 4th quarter. BlackRock Inc. now owns 208,736 shares of the investment management company’s stock valued at $2,329,000 after buying an additional 17,156 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of Gladstone Investment by 3.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 185,444 shares of the investment management company’s stock valued at $1,760,000 after buying an additional 6,583 shares during the period. Finally, California Public Employees Retirement System raised its holdings in shares of Gladstone Investment by 49.5% during the 4th quarter. California Public Employees Retirement System now owns 122,600 shares of the investment management company’s stock valued at $1,368,000 after buying an additional 40,600 shares during the period. Institutional investors and hedge funds own 17.16% 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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