GSV Capital Corp (GSVC) Director David S. Pottruck Buys 10,000 Shares of Stock
GSV Capital Corp (NASDAQ:GSVC) Director David S. Pottruck purchased 10,000 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was purchased at an average cost of $5.37 per share, for a total transaction of $53,700.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.
GSV Capital Corp (NASDAQ:GSVC) opened at 5.39 on Tuesday. GSV Capital Corp has a 12-month low of $3.83 and a 12-month high of $5.61. The stock has a 50 day moving average of $4.58 and a 200 day moving average of $4.54.
GSV Capital Corp (NASDAQ:GSVC) last released its earnings results on Tuesday, August 8th. The investment management company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.07). GSV Capital Corp had a negative net margin of 1,701.22% and a negative return on equity of 5.43%. The firm had revenue of $370.59 million for the quarter. Analysts predict that GSV Capital Corp will post $0.25 earnings per share for the current fiscal year.
GSV Capital Corp announced that its Board of Directors has initiated a share repurchase plan on Tuesday, August 8th that authorizes the company to repurchase $5.00 million in outstanding shares. This repurchase authorization authorizes the investment management company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
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Separately, ValuEngine raised shares of GSV Capital Corp from a “hold” rating to a “buy” rating in a report on Friday, September 1st.
A number of hedge funds and other institutional investors have recently made changes to their positions in GSVC. UBS Group AG increased its holdings in GSV Capital Corp by 7.3% in the 1st quarter. UBS Group AG now owns 26,138 shares of the investment management company’s stock valued at $117,000 after acquiring an additional 1,780 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in GSV Capital Corp in the 1st quarter valued at $142,000. Wells Fargo & Company MN increased its holdings in GSV Capital Corp by 9.1% in the 1st quarter. Wells Fargo & Company MN now owns 82,401 shares of the investment management company’s stock valued at $370,000 after acquiring an additional 6,858 shares during the last quarter. Intrinsic Edge Capital Management LLC bought a new stake in GSV Capital Corp in the 2nd quarter valued at $389,000. Finally, Oppenheimer & Co. Inc. increased its holdings in GSV Capital Corp by 42.9% in the 1st quarter. Oppenheimer & Co. Inc. now owns 247,457 shares of the investment management company’s stock valued at $1,109,000 after acquiring an additional 74,300 shares during the last quarter. Institutional investors own 29.67% of the company’s stock.
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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