Gladstone Investment Corporation (GAIN) Given “Hold” Rating at Jefferies Group LLC
Gladstone Investment Corporation (NASDAQ:GAIN)‘s stock had its “hold” rating reaffirmed by equities researchers at Jefferies Group LLC in a research report issued on Wednesday. They presently have a $9.00 price target on the investment management company’s stock. Jefferies Group LLC’s target price points to a potential downside of 3.23% from the stock’s previous close.
A number of other equities research analysts also recently commented on the company. Zacks Investment Research downgraded Gladstone Investment Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. BidaskClub downgraded Gladstone Investment Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, Wedbush initiated coverage on Gladstone Investment Corporation in a research report on Wednesday, June 14th. They set an “outperform” rating and a $10.00 price target for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Gladstone Investment Corporation currently has an average rating of “Hold” and an average target price of $9.50.
Gladstone Investment Corporation (NASDAQ:GAIN) traded down 2.11% during mid-day trading on Wednesday, hitting $9.30. The stock had a trading volume of 251,925 shares. The firm’s 50-day moving average price is $9.51 and its 200 day moving average price is $9.26. Gladstone Investment Corporation has a one year low of $7.16 and a one year high of $9.84.
Gladstone Investment Corporation (NASDAQ:GAIN) last issued its quarterly earnings data on Tuesday, August 1st. The investment management company reported $0.17 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.17. Gladstone Investment Corporation had a return on equity of 6.95% and a net margin of 55.52%. The firm had revenue of $13.62 million during the quarter, compared to analysts’ expectations of $13.01 million. Analysts predict that Gladstone Investment Corporation will post $0.70 earnings per share for the current fiscal year.
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In related news, CEO David Gladstone bought 24,000 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was bought 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 of the company’s stock, valued at $5,790,250.25. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.40% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL boosted its position in Gladstone Investment Corporation by 10.7% in the second quarter. Tudor Investment Corp ET AL now owns 11,952 shares of the investment management company’s stock valued at $112,000 after buying an additional 1,152 shares during the period. Stratos Wealth Partners LTD. boosted its position in Gladstone Investment Corporation by 19.5% in the second quarter. Stratos Wealth Partners LTD. now owns 14,614 shares of the investment management company’s stock valued at $137,000 after buying an additional 2,382 shares during the period. Crow Point Partners LLC acquired a new position in Gladstone Investment Corporation during the second quarter valued at approximately $140,000. Parametric Portfolio Associates LLC boosted its position in Gladstone Investment Corporation by 0.8% in the second quarter. Parametric Portfolio Associates LLC now owns 18,727 shares of the investment management company’s stock valued at $176,000 after buying an additional 148 shares during the period. Finally, Eagle Global Advisors LLC boosted its position in Gladstone Investment Corporation by 34.9% in the first quarter. Eagle Global Advisors LLC now owns 19,973 shares of the investment management company’s stock valued at $181,000 after buying an additional 5,170 shares during the period. Institutional investors and hedge funds own 20.22% of the company’s stock.
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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