Gladstone Investment Co. (NASDAQ:GAIN) – Stock analysts at Jefferies Group upped their FY2019 earnings per share estimates for shares of Gladstone Investment in a note issued to investors on Wednesday, May 16th. Jefferies Group analyst K. Joseph now expects that the investment management company will post earnings per share of $0.80 for the year, up from their prior estimate of $0.78.
Gladstone Investment (NASDAQ:GAIN) last announced its quarterly earnings results on Tuesday, May 15th. The investment management company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The business had revenue of $15.42 million for the quarter, compared to the consensus estimate of $13.88 million. Gladstone Investment had a net margin of 104.00% and a return on equity of 7.64%.
A number of other analysts also recently weighed in on GAIN. BidaskClub downgraded shares of Gladstone Investment from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 23rd. Ladenburg Thalmann upgraded shares of Gladstone Investment from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 7th. Zacks Investment Research upgraded shares of Gladstone Investment from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Thursday, February 15th. ValuEngine upgraded shares of Gladstone Investment from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 1st. Finally, Wedbush upgraded shares of Gladstone Investment from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $9.56 to $11.00 in a report on Tuesday, March 6th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $11.33.
Shares of NASDAQ:GAIN opened at $11.43 on Friday. The company has a market capitalization of $369.25 million, a P/E ratio of 13.94 and a beta of 0.51. Gladstone Investment has a fifty-two week low of $9.00 and a fifty-two week high of $11.50.
The business also recently announced a special dividend, which will be paid on Friday, June 15th. Shareholders of record on Wednesday, June 6th will be issued a dividend of $0.06 per share. The ex-dividend date is Tuesday, June 5th. This represents a yield of 7.69%. Gladstone Investment’s dividend payout ratio (DPR) is currently 97.56%.
In related news, President David A. R. Dullum bought 5,000 shares of the company’s stock in a transaction on Monday, March 5th. The shares were purchased at an average cost of $9.56 per share, for a total transaction of $47,800.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.40% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Millennium Management LLC raised its holdings in shares of Gladstone Investment by 143.0% in the first quarter. Millennium Management LLC now owns 256,230 shares of the investment management company’s stock valued at $2,588,000 after purchasing an additional 150,774 shares during the last quarter. LPL Financial LLC raised its holdings in shares of Gladstone Investment by 103.9% in the first quarter. LPL Financial LLC now owns 141,409 shares of the investment management company’s stock valued at $1,428,000 after purchasing an additional 72,060 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Gladstone Investment by 353.7% in the first quarter. JPMorgan Chase & Co. now owns 89,187 shares of the investment management company’s stock valued at $901,000 after purchasing an additional 69,529 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Gladstone Investment in the fourth quarter valued at approximately $678,000. Finally, Alps Advisors Inc. acquired a new stake in shares of Gladstone Investment in the first quarter valued at approximately $468,000. Hedge funds and other institutional investors own 15.83% of the company’s stock.
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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