$13.01 Million in Sales Expected for Gladstone Investment Corporation (GAIN) This Quarter
Equities research analysts expect Gladstone Investment Corporation (NASDAQ:GAIN) to report sales of $13.01 million for the current quarter, according to Zacks. Three analysts have issued estimates for Gladstone Investment Corporation’s earnings, with estimates ranging from $12.79 million to $13.22 million. Gladstone Investment Corporation reported sales of $14.39 million during the same quarter last year, which would suggest a negative year over year growth rate of 9.6%. The company is expected to issue its next quarterly earnings report after the market closes on Tuesday, August 1st.
According to Zacks, analysts expect that Gladstone Investment Corporation will report full-year sales of $13.01 million for the current year, with estimates ranging from $51.88 million to $54.51 million. For the next fiscal year, analysts expect that the firm will post sales of $55.39 million per share, with estimates ranging from $53.44 million to $57.35 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Gladstone Investment Corporation.
Gladstone Investment Corporation (NASDAQ:GAIN) last posted its earnings results on Monday, May 15th. The investment management company reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.01. Gladstone Investment Corporation had a net margin of 86.29% and a return on equity of 7.55%. The firm had revenue of $12.36 million for the quarter, compared to analysts’ expectations of $12.94 million.
GAIN has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Gladstone Investment Corporation from a “sell” rating to a “hold” rating in a report on Friday, April 7th. Jefferies Group LLC reiterated a “hold” rating and set a $9.00 price target on shares of Gladstone Investment Corporation in a report on Friday, May 12th. Finally, Wedbush initiated coverage on shares of Gladstone Investment Corporation in a report on Wednesday, June 14th. They set an “outperform” rating and a $10.00 price target for the company.
In other news, CEO David Gladstone purchased 24,000 shares of the stock in a transaction on Wednesday, June 14th. The stock was bought at an average price of $9.25 per share, for a total transaction of $222,000.00. Following the acquisition, the chief executive officer now directly owns 625,973 shares of the company’s stock, valued at approximately $5,790,250.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.40% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its stake in shares of Gladstone Investment Corporation by 10.7% in the first quarter. Goldman Sachs Group Inc. now owns 39,927 shares of the investment management company’s stock valued at $362,000 after buying an additional 3,867 shares in the last quarter. KCG Holdings Inc. bought a new stake in shares of Gladstone Investment Corporation during the first quarter valued at $407,000. UBS Group AG increased its stake in shares of Gladstone Investment Corporation by 21.9% in the first quarter. UBS Group AG now owns 746,477 shares of the investment management company’s stock valued at $6,770,000 after buying an additional 134,165 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of Gladstone Investment Corporation by 75.2% in the first quarter. Mackenzie Financial Corp now owns 28,025 shares of the investment management company’s stock valued at $254,000 after buying an additional 12,025 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Gladstone Investment Corporation by 10.6% in the first quarter. Legal & General Group Plc now owns 71,843 shares of the investment management company’s stock valued at $651,000 after buying an additional 6,884 shares in the last quarter. Institutional investors and hedge funds own 19.30% of the company’s stock.
Shares of Gladstone Investment Corporation (NASDAQ:GAIN) opened at 9.44 on Friday. The company’s 50-day moving average is $9.24 and its 200-day moving average is $9.04. Gladstone Investment Corporation has a 52-week low of $7.16 and a 52-week high of $9.84.
The company also recently declared a monthly dividend, which will be paid on Friday, September 29th. Shareholders of record on Wednesday, September 20th will be issued a dividend of $0.064 per share. This represents a $0.77 annualized dividend and a yield of 8.14%. The ex-dividend date is Tuesday, September 19th. Gladstone Investment Corporation’s dividend payout ratio (DPR) is presently 51.33%.
Gladstone Investment Corporation 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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