Shares of Gladstone Investment Co. (NASDAQ:GAIN) have earned a consensus rating of “Buy” from the six ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $11.33.
Several analysts recently issued reports on GAIN shares. BidaskClub cut Gladstone Investment from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 23rd. Wedbush upgraded Gladstone Investment from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $9.56 to $11.00 in a research report on Tuesday, March 6th. Zacks Investment Research cut Gladstone Investment from a “buy” rating to a “hold” rating in a research report on Friday, March 2nd. Ladenburg Thalmann upgraded Gladstone Investment from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 7th. Finally, ValuEngine upgraded Gladstone Investment from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 1st.
Shares of GAIN opened at $11.35 on Friday. The stock has a market capitalization of $375.16 million, a price-to-earnings ratio of 13.84 and a beta of 0.51. Gladstone Investment has a 52 week low of $9.00 and a 52 week high of $11.50.
Gladstone Investment (NASDAQ:GAIN) last issued its quarterly earnings results on Tuesday, May 15th. The investment management company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. Gladstone Investment had a return on equity of 7.64% and a net margin of 104.00%. The business had revenue of $15.42 million during the quarter, compared to analysts’ expectations of $13.88 million. sell-side analysts expect that Gladstone Investment will post 0.79 EPS for the current year.
The firm also recently announced a special dividend, which will be paid on Friday, June 15th. Investors of record on Wednesday, June 6th will be given a dividend of $0.06 per share. This represents a dividend yield of 7.69%. The ex-dividend date is Tuesday, June 5th. Gladstone Investment’s dividend payout ratio is currently 97.56%.
In other Gladstone Investment news, President David A. R. Dullum bought 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The stock was purchased at an average price of $9.56 per share, for a total transaction of $47,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Outfitter Advisors LTD. grew its holdings in 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 in the last quarter. Royal Bank of Canada grew its holdings in Gladstone Investment by 24.1% during the 1st quarter. Royal Bank of Canada now owns 36,272 shares of the investment management company’s stock valued at $366,000 after buying an additional 7,054 shares in the last quarter. Blair William & Co. IL grew its holdings in Gladstone Investment by 13.6% during the 1st quarter. Blair William & Co. IL now owns 85,817 shares of the investment management company’s stock valued at $867,000 after buying an additional 10,251 shares in the last quarter. Stockman Wealth Management Inc. purchased a new position in Gladstone Investment during the 4th quarter valued at approximately $269,000. Finally, Aperio Group LLC purchased a new position in Gladstone Investment during the 1st quarter valued at approximately $113,000. Institutional investors and hedge funds own 15.34% 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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