Gladstone Investment (NASDAQ:GAIN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The brokerage presently has a $12.00 price objective on the investment management company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 9.09% from the company’s previous close.
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. “
Other research analysts have also recently issued reports about the stock. Jefferies Group increased their price objective on shares of Gladstone Investment from $9.00 to $10.00 and gave the company a “hold” rating in a report on Friday, November 3rd. ValuEngine upgraded shares of Gladstone Investment from a “buy” rating to a “strong-buy” rating in a report on Sunday. Finally, Wedbush cut shares of Gladstone Investment from an “outperform” rating to a “neutral” rating and increased their price objective for the company from $10.50 to $11.00 in a report on Monday, November 20th. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $11.00.
Gladstone Investment (NASDAQ:GAIN) last posted its quarterly earnings data on Wednesday, November 1st. The investment management company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.01. The business had revenue of $13.13 million during the quarter, compared to analysts’ expectations of $12.22 million. Gladstone Investment had a net margin of 80.07% and a return on equity of 6.95%. equities analysts anticipate that Gladstone Investment will post 0.71 earnings per share for the current year.
In other Gladstone Investment news, Director Walter H. Wilkinson bought 5,730 shares of Gladstone Investment stock in a transaction that occurred on Tuesday, November 28th. The stock was purchased at an average cost of $10.84 per share, for a total transaction of $62,113.20. Following the completion of the acquisition, the director now owns 14,416 shares of the company’s stock, valued at approximately $156,269.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.40% of the company’s stock.
Large investors have recently modified their holdings of the stock. Susquehanna International Group LLP bought a new stake in Gladstone Investment during the second quarter worth approximately $293,000. WFG Advisors LP boosted its holdings in Gladstone Investment by 97.7% during the second quarter. WFG Advisors LP now owns 60,928 shares of the investment management company’s stock worth $573,000 after buying an additional 30,102 shares in the last quarter. Royal Bank of Canada boosted its holdings in Gladstone Investment by 0.4% during the second quarter. Royal Bank of Canada now owns 24,110 shares of the investment management company’s stock worth $227,000 after buying an additional 106 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Gladstone Investment by 21.3% during the second quarter. Van ECK Associates Corp now owns 280,855 shares of the investment management company’s stock worth $2,640,000 after buying an additional 49,373 shares in the last quarter. Finally, Garner Asset Management Corp bought a new stake in Gladstone Investment during the second quarter worth approximately $521,000. Hedge funds and other institutional investors own 17.36% of the company’s stock.
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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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