Zacks: Brokerages Anticipate Gladstone Investment Co. (GAIN) Will Post Quarterly Sales of $13.42 Million
Wall Street analysts forecast that Gladstone Investment Co. (NASDAQ:GAIN) will post sales of $13.42 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Gladstone Investment’s earnings. The highest sales estimate is $13.65 million and the lowest is $13.19 million. Gladstone Investment reported sales of $13.37 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 0.4%. The company is expected to announce its next quarterly earnings results after the market closes on Tuesday, February 6th.
On average, analysts expect that Gladstone Investment will report full-year sales of $13.42 million for the current year, with estimates ranging from $53.90 million to $54.45 million. For the next fiscal year, analysts anticipate that the firm will report sales of $61.76 million per share. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Gladstone Investment.
Gladstone Investment (NASDAQ:GAIN) last announced its quarterly earnings data on Wednesday, November 1st. The investment management company reported $0.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.01. The company had revenue of $13.13 million for the quarter, compared to the consensus estimate of $12.22 million. Gladstone Investment had a return on equity of 6.95% and a net margin of 80.07%.
Shares of Gladstone Investment (GAIN) traded down $0.03 during trading on Friday, reaching $11.18. The company’s stock had a trading volume of 69,138 shares, compared to its average volume of 199,998. The company has a market cap of $363.64, a P/E ratio of 8.28 and a beta of 0.74. Gladstone Investment has a 12 month low of $8.45 and a 12 month high of $11.50.
The company also recently declared a monthly dividend, which will be paid on Friday, March 30th. Stockholders of record on Tuesday, March 20th will be given a dividend of $0.065 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 6.98%. The ex-dividend date of this dividend is Monday, March 19th. Gladstone Investment’s payout ratio is 57.78%.
In other news, Director Walter H. Wilkinson purchased 5,730 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were acquired at an average price of $10.84 per share, with a total value of $62,113.20. Following the transaction, the director now owns 14,416 shares of the company’s stock, valued at $156,269.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.40% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of GAIN. Legal & General Group Plc grew its position in shares of Gladstone Investment by 11.7% during the 2nd quarter. Legal & General Group Plc now owns 80,258 shares of the investment management company’s stock worth $754,000 after buying an additional 8,415 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Gladstone Investment by 2.6% during the 2nd quarter. Wells Fargo & Company MN now owns 41,031 shares of the investment management company’s stock worth $386,000 after buying an additional 1,048 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Gladstone Investment by 21.3% during the 2nd quarter. Van ECK Associates Corp now owns 280,855 shares of the investment management company’s stock worth $2,640,000 after buying an additional 49,373 shares in the last quarter. GSA Capital Partners LLP lifted its stake in shares of Gladstone Investment by 72.6% during the 2nd quarter. GSA Capital Partners LLP now owns 242,700 shares of the investment management company’s stock worth $2,281,000 after purchasing an additional 102,100 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its stake in shares of Gladstone Investment by 0.8% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 18,727 shares of the investment management company’s stock worth $176,000 after purchasing an additional 148 shares during the last quarter. 17.36% of the stock is currently owned by institutional investors and hedge funds.
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About Gladstone Investment
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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