Zacks Investment Research Downgrades Gladstone Investment Corp. (GAIN) to Hold
Gladstone Investment Corp. (NASDAQ:GAIN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released 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 reissued a “hold” rating on shares of Gladstone Investment Corp. in a research note on Friday, August 5th.
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Gladstone Investment Corp. (NASDAQ:GAIN) traded down 1.22% during mid-day trading on Tuesday, reaching $8.91. The company’s stock had a trading volume of 105,215 shares. The firm has a 50-day moving average of $8.93 and a 200 day moving average of $7.71. Gladstone Investment Corp. has a 1-year low of $6.40 and a 1-year high of $9.30.
Gladstone Investment Corp. (NASDAQ:GAIN) last released its quarterly earnings results on Monday, August 1st. The investment management company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.05. Gladstone Investment Corp. had a return on equity of 8.04% and a net margin of 77.56%. On average, equities research analysts predict that Gladstone Investment Corp. will post $0.78 EPS for the current fiscal year.
The company also recently disclosed a monthly dividend, which was paid on Friday, September 30th. Stockholders of record on Wednesday, September 21st were issued a $0.0625 dividend. The ex-dividend date 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 (DPR) is 54.74%.
In other news, COO Terry Lee Brubaker sold 49,414 shares of the company’s stock in a transaction on Tuesday, August 16th. The stock was 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 $2,030,580.54. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.10% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Janney Montgomery Scott LLC raised its stake in shares of Gladstone Investment Corp. by 111.5% in the second quarter. Janney Montgomery Scott LLC now owns 322,946 shares of the investment management company’s stock valued at $2,312,000 after buying an additional 170,249 shares during the period. Nuveen Fund Advisors LLC purchased a new stake in shares of Gladstone Investment Corp. during the second quarter valued at $874,000. JPMorgan Chase & Co. raised its stake in shares of 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 during the period. BlackRock Group LTD raised its stake in shares of Gladstone Investment Corp. by 14.6% in the second quarter. BlackRock Group LTD now owns 162,379 shares of the investment management company’s stock valued at $1,163,000 after buying an additional 20,652 shares during the period. Finally, UBS Group AG raised its stake in shares of Gladstone Investment Corp. by 2.9% in the first quarter. UBS Group AG now owns 549,901 shares of the investment management company’s stock valued at $3,860,000 after buying an additional 15,355 shares during the period. Institutional investors and hedge funds own 15.37% of the company’s stock.
About Gladstone Investment Corp.
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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