Gladstone Investment Corporation (NASDAQ:GAIN) Rating Increased to Hold at Zacks Investment Research
Gladstone Investment Corporation (NASDAQ:GAIN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday, October 3rd.
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. “
Other equities analysts have also issued research reports about the stock. Jefferies Group LLC reaffirmed a “hold” rating and set a $9.00 price objective on shares of Gladstone Investment Corporation in a research report on Wednesday, August 16th. BidaskClub lowered shares of Gladstone Investment Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. ValuEngine downgraded Gladstone Investment Corporation from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. Finally, Wedbush started coverage on Gladstone Investment Corporation in a report on Wednesday, June 14th. They set an “outperform” rating and a $10.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $9.50.
Gladstone Investment Corporation (NASDAQ GAIN) traded up 0.61% during midday trading on Tuesday, reaching $9.84. 171,609 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $9.37 and its 200-day moving average price is $9.36. Gladstone Investment Corporation has a 1-year low of $7.16 and a 1-year high of $9.87.
Gladstone Investment Corporation (NASDAQ:GAIN) last announced its earnings results on Tuesday, August 1st. The investment management company reported $0.17 EPS for the quarter, hitting the consensus estimate of $0.17. The company had revenue of $13.62 million during the quarter, compared to analysts’ expectations of $13.01 million. Gladstone Investment Corporation had a net margin of 55.52% and a return on equity of 6.95%. Analysts anticipate that Gladstone Investment Corporation will post $0.70 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently modified their holdings of GAIN. Bank of Montreal Can bought a new position in shares of Gladstone Investment Corporation during the second quarter valued at $3,422,000. UBS Group AG raised its holdings in shares of Gladstone Investment Corporation by 21.9% in the first quarter. UBS Group AG now owns 746,477 shares of the investment management company’s stock valued at $6,770,000 after buying an additional 134,165 shares during the last quarter. GSA Capital Partners LLP raised its holdings in shares of Gladstone Investment Corporation by 72.6% in the second quarter. GSA Capital Partners LLP now owns 242,700 shares of the investment management company’s stock valued at $2,281,000 after buying an additional 102,100 shares during the last quarter. Garner Asset Management Corp bought a new position in shares of Gladstone Investment Corporation in the second quarter valued at about $521,000. Finally, Van ECK Associates Corp raised its holdings in shares of Gladstone Investment Corporation by 29.0% in the first quarter. Van ECK Associates Corp now owns 231,482 shares of the investment management company’s stock valued at $2,100,000 after buying an additional 52,066 shares during the last quarter. 18.09% of the stock is owned by institutional investors.
About Gladstone Investment Corporation
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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