Gladstone Investment Corp. (GAIN) Rating Lowered to Hold at Zacks Investment Research
Gladstone Investment Corp. (NASDAQ:GAIN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
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. “
Separately, Jefferies Group restated a “hold” rating on shares of Gladstone Investment Corp. in a research report on Friday, August 5th.
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Shares of Gladstone Investment Corp. (NASDAQ:GAIN) traded down 1.22% on Tuesday, reaching $8.91. 105,215 shares of the company traded hands. Gladstone Investment Corp. has a one year low of $6.40 and a one year high of $9.30. The firm has a 50-day moving average price of $8.93 and a 200 day moving average price of $7.71.
Gladstone Investment Corp. (NASDAQ:GAIN) last issued its quarterly earnings results on Monday, August 1st. The investment management company reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.05. Gladstone Investment Corp. had a net margin of 77.56% and a return on equity of 8.04%. Analysts forecast that Gladstone Investment Corp. will post $0.78 EPS for the current fiscal year.
The business also recently disclosed a monthly dividend, which was paid on Friday, September 30th. Stockholders of record on Wednesday, September 21st were paid a $0.0625 dividend. The ex-dividend date of this dividend was Monday, September 19th. This represents a $0.75 annualized dividend and a dividend yield of 8.42%. Gladstone Investment Corp.’s dividend payout ratio is currently 54.74%.
In other news, COO Terry Lee Brubaker sold 49,414 shares of Gladstone Investment Corp. stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $8.73, for a total value of $431,384.22. Following the completion of the sale, the chief operating officer now owns 232,598 shares in the company, valued at approximately $2,030,580.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.10% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in GAIN. Royal Bank of Canada raised its stake in Gladstone Investment Corp. by 1.3% in the first quarter. Royal Bank of Canada now owns 17,451 shares of the investment management company’s stock valued at $123,000 after buying an additional 222 shares in the last quarter. Raymond James & Associates raised its stake in Gladstone Investment Corp. by 31.1% in the second quarter. Raymond James & Associates now owns 21,614 shares of the investment management company’s stock valued at $155,000 after buying an additional 5,124 shares in the last quarter. KCG Holdings Inc. raised its stake in Gladstone Investment Corp. by 12.1% in the second quarter. KCG Holdings Inc. now owns 23,400 shares of the investment management company’s stock valued at $168,000 after buying an additional 2,521 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Gladstone Investment Corp. by 88.5% in the second quarter. JPMorgan Chase & Co. now owns 59,158 shares of the investment management company’s stock valued at $424,000 after buying an additional 27,778 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its stake in Gladstone Investment Corp. by 6.5% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 78,059 shares of the investment management company’s stock valued at $548,000 after buying an additional 4,771 shares in the last quarter. Institutional investors own 15.37% of the company’s stock.
Gladstone Investment Corp. 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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