GSV Capital Corp (NASDAQ:GSVC) Posts Quarterly Earnings Results, Misses Expectations By $0.07 EPS
GSV Capital Corp (NASDAQ:GSVC) announced its quarterly earnings results on Tuesday. The investment management company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by $0.07, Morningstar.com reports. The company had revenue of $370.59 million for the quarter.
Shares of GSV Capital Corp (NASDAQ GSVC) traded up 8.03% during midday trading on Wednesday, hitting $4.17. 144,232 shares of the company traded hands. The stock has a 50 day moving average of $4.20 and a 200-day moving average of $4.69. GSV Capital Corp has a 52 week low of $3.83 and a 52 week high of $5.80.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. UBS Group AG raised its position in GSV Capital Corp by 7.3% in the first quarter. UBS Group AG now owns 26,138 shares of the investment management company’s stock valued at $117,000 after buying an additional 1,780 shares in the last quarter. Wells Fargo & Company MN raised its position in GSV Capital Corp by 9.1% in the first quarter. Wells Fargo & Company MN now owns 82,401 shares of the investment management company’s stock valued at $370,000 after buying an additional 6,858 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in GSV Capital Corp during the first quarter valued at about $142,000. Supplemental Annuity Collective Trust of NJ raised its position in GSV Capital Corp by 94.5% in the first quarter. Supplemental Annuity Collective Trust of NJ now owns 120,000 shares of the investment management company’s stock valued at $538,000 after buying an additional 58,288 shares in the last quarter. Finally, NJ State Employees Deferred Compensation Plan bought a new position in GSV Capital Corp during the first quarter valued at about $291,000. 29.62% of the stock is currently owned by hedge funds and other institutional investors.
GSV Capital Corp announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, August 8th that authorizes the company to buyback $5.00 million in outstanding shares. This buyback authorization authorizes the investment management company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.
About GSV Capital Corp
GSV Capital Corp. (GSV Capital) is an externally managed, non-diversified closed-end management investment company. The Company’s investment objective is to maximize its portfolio’s total return, principally by seeking capital gains on its equity and equity-related investments. The Company invests principally in the equity securities, which are venture-capital-backed emerging companies.
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