Q2 2018 EPS Estimates for Gladstone Investment Co. (GAIN) Cut by Analyst
Gladstone Investment Co. (NASDAQ:GAIN) – Research analysts at Jefferies Group reduced their Q2 2018 EPS estimates for shares of Gladstone Investment in a research note issued to investors on Tuesday. Jefferies Group analyst K. Joseph now anticipates that the investment management company will post earnings per share of $0.17 for the quarter, down from their prior estimate of $0.19. Jefferies Group has a “Hold” rating and a $9.00 price objective on the stock. Jefferies Group also issued estimates for Gladstone Investment’s Q3 2018 earnings at $0.17 EPS, Q4 2018 earnings at $0.17 EPS, FY2018 earnings at $0.74 EPS, Q1 2019 earnings at $0.18 EPS, Q2 2019 earnings at $0.18 EPS, Q3 2019 earnings at $0.18 EPS, FY2019 earnings at $0.73 EPS and FY2020 earnings at $0.78 EPS.
Separately, Zacks Investment Research downgraded Gladstone Investment from a “hold” rating to a “sell” rating in a research report on Thursday.
Shares of Gladstone Investment (NASDAQ:GAIN) traded up 0.385% on Thursday, reaching $9.135. The company’s stock had a trading volume of 88,311 shares. The company has a 50 day moving average of $9.32 and a 200 day moving average of $8.79. The stock has a market capitalization of $276.52 million, a P/E ratio of 4.768 and a beta of 0.60. Gladstone Investment has a 1-year low of $6.70 and a 1-year high of $9.84.
Gladstone Investment (NASDAQ:GAIN) last announced its quarterly earnings data on Monday, May 15th. The investment management company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by $0.01. The firm had revenue of $12.36 million during the quarter, compared to analysts’ expectations of $12.94 million. Gladstone Investment had a net margin of 111.65% and a return on equity of 7.55%.
Hedge funds have recently bought and sold shares of the company. KCG Holdings Inc. purchased a new stake in Gladstone Investment during the first quarter worth approximately $407,000. UBS Group AG increased its stake in Gladstone Investment by 21.9% in the first quarter. UBS Group AG now owns 746,477 shares of the investment management company’s stock worth $6,770,000 after buying an additional 134,165 shares during the last quarter. Mackenzie Financial Corp increased its stake in Gladstone Investment by 75.2% in the first quarter. Mackenzie Financial Corp now owns 28,025 shares of the investment management company’s stock worth $254,000 after buying an additional 12,025 shares during the last quarter. Legal & General Group Plc increased its stake in Gladstone Investment by 10.6% in the first quarter. Legal & General Group Plc now owns 71,843 shares of the investment management company’s stock worth $651,000 after buying an additional 6,884 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in Gladstone Investment by 29.0% in the first quarter. Van ECK Associates Corp now owns 231,482 shares of the investment management company’s stock worth $2,100,000 after buying an additional 52,066 shares during the last quarter. Institutional investors own 19.39% of the company’s stock.
In other Gladstone Investment news, COO Terry Lee Brubaker sold 59,963 shares of the business’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $9.20, for a total transaction of $551,659.60. Following the sale, the chief operating officer now directly owns 139,915 shares in the company, valued at $1,287,218. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David Gladstone bought 5,000 shares of the firm’s stock in a transaction on Monday, March 13th. The shares were purchased at an average price of $8.70 per share, for a total transaction of $43,500.00. Following the completion of the transaction, the chief executive officer now owns 621,973 shares of the company’s stock, valued at approximately $5,411,165.10. The disclosure for this purchase can be found here. 3.10% of the stock is currently owned by insiders.
The company also recently announced a special dividend, which will be paid on Thursday, June 15th. Shareholders of record on Monday, June 5th will be given a dividend of $0.06 per share. This represents a yield of 8.26%. This is an increase from Gladstone Investment’s previous special dividend of $0.05. The ex-dividend date of this dividend is Thursday, June 1st. Gladstone Investment’s payout ratio is presently 38.66%.
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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