Gladstone Investment Corp. (GAIN) Downgraded by Zacks Investment Research
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. “
Separately, Jefferies Group reissued a hold rating on shares of Gladstone Investment Corp. in a research report on Friday, August 5th.
Shares of Gladstone Investment Corp. (NASDAQ:GAIN) opened at 9.10 on Tuesday. Gladstone Investment Corp. has a 1-year low of $6.40 and a 1-year high of $9.30. The firm’s 50 day moving average is $8.93 and its 200-day moving average is $7.73.
Gladstone Investment Corp. (NASDAQ:GAIN) last released its earnings results on Monday, August 1st. The investment management company reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.05. Gladstone Investment Corp. had a net margin of 77.56% and a return on equity of 8.04%. Analysts predict that Gladstone Investment Corp. will post $0.78 earnings per share for the current fiscal year.
The firm also recently declared a monthly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, October 21st will be paid a dividend of $0.0625 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 8.24%. The ex-dividend date is Wednesday, October 19th. Gladstone Investment Corp.’s payout ratio is currently 54.74%.
In related news, COO Terry Lee Brubaker sold 49,414 shares of the company’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $8.73, for a total transaction of $431,384.22. Following the sale, the chief operating officer now directly owns 232,598 shares in the company, valued at approximately $2,030,580.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.10% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Janney Montgomery Scott LLC boosted its stake in Gladstone Investment Corp. by 111.5% in the second quarter. Janney Montgomery Scott LLC now owns 322,946 shares of the investment management company’s stock valued at $2,312,000 after buying an additional 170,249 shares in the last quarter. Algert Global LLC purchased a new stake in Gladstone Investment Corp. during the third quarter valued at about $1,157,000. Nuveen Fund Advisors LLC purchased a new stake in Gladstone Investment Corp. during the second quarter valued at about $874,000. JPMorgan Chase & Co. boosted its stake in Gladstone Investment Corp. by 88.5% in the second quarter. JPMorgan Chase & Co. now owns 59,158 shares of the investment management company’s stock valued at $424,000 after buying an additional 27,778 shares in the last quarter. Finally, BlackRock Group LTD boosted its stake in Gladstone Investment Corp. by 14.6% in the second quarter. BlackRock Group LTD now owns 162,379 shares of the investment management company’s stock valued at $1,163,000 after buying an additional 20,652 shares in the last quarter. Institutional investors own 15.37% of the company’s stock.
About Gladstone Investment Corp.
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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