Gladstone Investment Corporation (NASDAQ:GAIN) Expected to Post Quarterly Sales of $12.22 Million
Equities analysts forecast that Gladstone Investment Corporation (NASDAQ:GAIN) will post sales of $12.22 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Gladstone Investment Corporation’s earnings, with estimates ranging from $11.82 million to $12.83 million. Gladstone Investment Corporation reported sales of $11.74 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.1%. The company is scheduled to announce its next earnings report on Wednesday, November 1st.
On average, analysts expect that Gladstone Investment Corporation will report full-year sales of $12.22 million for the current financial year, with estimates ranging from $51.59 million to $54.51 million. For the next fiscal year, analysts forecast that the business will report sales of $58.23 million per share, with estimates ranging from $57.35 million to $59.11 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Gladstone Investment Corporation.
Gladstone Investment Corporation (NASDAQ:GAIN) last announced its earnings results on Tuesday, August 1st. The investment management company reported $0.17 EPS for the quarter, meeting analysts’ consensus estimates of $0.17. Gladstone Investment Corporation had a return on equity of 6.95% and a net margin of 55.52%. The company had revenue of $13.62 million during the quarter, compared to analysts’ expectations of $13.01 million.
GAIN has been the subject of a number of analyst reports. BidaskClub downgraded Gladstone Investment Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research cut Gladstone Investment Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, May 18th. Wedbush began coverage on Gladstone Investment Corporation in a research note on Wednesday, June 14th. They set an “outperform” rating and a $10.00 price objective on the stock. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $9.00 price target on shares of Gladstone Investment Corporation in a research report on Wednesday, April 12th.
Gladstone Investment Corporation (GAIN) opened at 9.72 on Monday. Gladstone Investment Corporation has a one year low of $7.16 and a one year high of $9.84. The company’s 50-day moving average price is $9.42 and its 200-day moving average price is $9.20.
The business also recently disclosed a monthly dividend, which will be paid on Friday, September 29th. Stockholders of record on Wednesday, September 20th will be paid a dividend of $0.064 per share. This represents a $0.77 annualized dividend and a dividend yield of 7.90%. The ex-dividend date is Tuesday, September 19th. Gladstone Investment Corporation’s dividend payout ratio is presently 82.80%.
In other Gladstone Investment Corporation news, CEO David Gladstone bought 24,000 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was acquired at an average price of $9.25 per share, with a total value of $222,000.00. Following the completion of the transaction, the chief executive officer now directly owns 625,973 shares in the company, valued at approximately $5,790,250.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.40% of the company’s stock.
Several hedge funds have recently modified their holdings of GAIN. Janney Montgomery Scott LLC raised its stake in shares of Gladstone Investment Corporation by 4.8% in the first quarter. Janney Montgomery Scott LLC now owns 168,761 shares of the investment management company’s stock valued at $1,531,000 after buying an additional 7,711 shares in the last quarter. Wells Fargo & Company MN raised its position in Gladstone Investment Corporation by 7.3% in the first quarter. Wells Fargo & Company MN now owns 39,983 shares of the investment management company’s stock valued at $363,000 after buying an additional 2,731 shares during the period. LSV Asset Management raised its position in Gladstone Investment Corporation by 5.3% in the first quarter. LSV Asset Management now owns 496,499 shares of the investment management company’s stock valued at $4,503,000 after buying an additional 24,983 shares during the period. Advisors Asset Management Inc. raised its position in Gladstone Investment Corporation by 7.3% in the first quarter. Advisors Asset Management Inc. now owns 795,167 shares of the investment management company’s stock valued at $7,212,000 after buying an additional 54,169 shares during the period. Finally, Advantage Investment Management LLC bought a new position in Gladstone Investment Corporation during the first quarter valued at $1,102,000. 20.16% of the stock is owned by institutional investors and hedge funds.
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About Gladstone Investment Corporation
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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