Wedbush Analysts Increase Earnings Estimates for Gladstone Investment Co. (NASDAQ:GAIN)

Gladstone Investment Co. (NASDAQ:GAIN) – Equities researchers at Wedbush lifted their Q3 2020 EPS estimates for Gladstone Investment in a research report issued to clients and investors on Tuesday, November 5th. Wedbush analyst H. Coffey now expects that the investment management company will earn $0.18 per share for the quarter, up from their previous estimate of $0.17. Wedbush also issued estimates for Gladstone Investment’s Q4 2020 earnings at $0.19 EPS and FY2020 earnings at $0.85 EPS.

Several other research firms have also commented on GAIN. ValuEngine raised Gladstone Investment from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. BidaskClub raised Gladstone Investment from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 23rd. Finally, Zacks Investment Research lowered Gladstone Investment from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th.

Shares of GAIN traded up $0.29 during trading hours on Friday, hitting $13.58. The company had a trading volume of 265,600 shares, compared to its average volume of 130,904. The company has a market capitalization of $435.23 million, a PE ratio of 17.64 and a beta of 0.82. Gladstone Investment has a one year low of $8.70 and a one year high of $13.69. The company’s fifty day moving average price is $12.58 and its two-hundred day moving average price is $11.87.

The firm also recently announced a monthly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 22nd were given a dividend of $0.068 per share. This represents a $0.82 annualized dividend and a yield of 6.01%. The ex-dividend date was Monday, October 21st. Gladstone Investment’s dividend payout ratio is currently 106.49%.

In related news, COO Terry Lee Brubaker sold 21,502 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $11.38, for a total transaction of $244,692.76. Following the transaction, the chief operating officer now directly owns 30,235 shares of the company’s stock, valued at approximately $344,074.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David Gladstone bought 20,581 shares of Gladstone Investment stock in a transaction that occurred on Monday, September 9th. The shares were acquired at an average cost of $11.99 per share, for a total transaction of $246,766.19. Following the completion of the transaction, the chief executive officer now directly owns 666,554 shares in the company, valued at $7,991,982.46. The disclosure for this purchase can be found here. Corporate insiders own 2.56% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Virtus ETF Advisers LLC purchased a new stake in Gladstone Investment during the 2nd quarter valued at about $2,630,000. Atlantic Union Bankshares Corp purchased a new stake in Gladstone Investment during the 2nd quarter valued at about $1,785,000. Bank of America Corp DE grew its stake in Gladstone Investment by 3,877.3% during the 2nd quarter. Bank of America Corp DE now owns 46,932 shares of the investment management company’s stock valued at $527,000 after purchasing an additional 45,752 shares during the last quarter. Van ECK Associates Corp grew its stake in Gladstone Investment by 10.1% during the 2nd quarter. Van ECK Associates Corp now owns 307,817 shares of the investment management company’s stock valued at $3,457,000 after purchasing an additional 28,326 shares during the last quarter. Finally, Morgan Stanley grew its stake in Gladstone Investment by 25.9% during the 2nd quarter. Morgan Stanley now owns 119,627 shares of the investment management company’s stock valued at $1,343,000 after purchasing an additional 24,625 shares during the last quarter. 12.62% of the stock is currently owned by institutional investors.

Gladstone Investment Company Profile

Gladstone Investment Corporation is a private equity fund specializing in lower middle market, acquisitions, mature stage, buyouts; recapitalizations; refinancing existing debt; senior debt securities such as senior loans, senior term loans, lines of credit, and senior notes; senior subordinated debt securities such as senior subordinated loans and senior subordinated notes; junior subordinated debt securities such as subordinated notes and mezzanine loans; limited liability company interests, and warrants or options.

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Earnings History and Estimates for Gladstone Investment (NASDAQ:GAIN)

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