$12.22 Million in Sales Expected for Gladstone Investment Corporation (GAIN) This Quarter
Equities research analysts expect Gladstone Investment Corporation (NASDAQ:GAIN) to announce sales of $12.22 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Gladstone Investment Corporation’s earnings. The highest sales estimate is $12.83 million and the lowest is $11.82 million. Gladstone Investment Corporation reported sales of $11.74 million during the same quarter last year, which would suggest a positive year over year growth rate of 4.1%. The business is scheduled to announce its next quarterly earnings report on Wednesday, November 1st.
According to Zacks, 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 company will report sales of $58.23 million per share, with estimates ranging from $57.35 million to $59.11 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Gladstone Investment Corporation.
Gladstone Investment Corporation (NASDAQ:GAIN) last posted its quarterly earnings results on Tuesday, August 1st. The investment management company reported $0.17 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.17. The business had revenue of $13.62 million for the quarter, compared to analyst estimates of $13.01 million. Gladstone Investment Corporation had a net margin of 55.52% and a return on equity of 6.95%.
GAIN has been the topic of a number of analyst reports. BidaskClub lowered shares of Gladstone Investment Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Jefferies Group LLC reaffirmed a “hold” rating and set a $9.00 target price on shares of Gladstone Investment Corporation in a report on Friday, May 12th. Wedbush initiated coverage on shares of Gladstone Investment Corporation in a report on Wednesday, June 14th. They set an “outperform” rating and a $10.00 target price on the stock. Finally, Zacks Investment Research lowered shares of Gladstone Investment Corporation from a “hold” rating to a “sell” rating in a report on Thursday.
In related news, CEO David Gladstone purchased 24,000 shares of the business’s stock in a transaction on 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 purchase, the chief executive officer now directly owns 625,973 shares in the company, valued at $5,790,250.25. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.40% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. 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 worth $137,000 after buying an additional 2,382 shares in the last quarter. Crow Point Partners LLC bought a new position in Gladstone Investment Corporation during the second quarter worth approximately $140,000. 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 worth $181,000 after buying an additional 5,170 shares in the last quarter. Mackenzie Financial Corp boosted its position in Gladstone Investment Corporation by 75.2% in the first quarter. Mackenzie Financial Corp now owns 28,025 shares of the investment management company’s stock worth $254,000 after buying an additional 12,025 shares in the last quarter. Finally, Oxford Asset Management bought a new position in Gladstone Investment Corporation during the first quarter worth approximately $303,000. 20.16% of the stock is owned by institutional investors and hedge funds.
Shares of Gladstone Investment Corporation (NASDAQ GAIN) opened at 9.72 on Monday. Gladstone Investment Corporation has a 52-week low of $7.16 and a 52-week high of $9.84. The company’s 50 day moving average is $9.42 and its 200 day moving average is $9.20.
The business also recently declared a monthly dividend, which will be paid on Friday, September 29th. Shareholders of record on Wednesday, September 20th will be paid a $0.064 dividend. The ex-dividend date of this dividend is Tuesday, September 19th. This represents a $0.77 dividend on an annualized basis and a yield of 7.90%. Gladstone Investment Corporation’s dividend payout ratio is presently 82.80%.
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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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