Gladstone Investment (GAIN) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Gladstone Investment (NASDAQ:GAIN) from a hold rating to a buy rating in a research note released on Thursday morning. The firm currently has $12.00 target price on the investment management company’s stock.

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 recently issued reports about the company. Jefferies Group increased their price target on Gladstone Investment from $9.00 to $10.00 and gave the stock a hold rating in a report on Friday, November 3rd. ValuEngine upgraded Gladstone Investment from a buy rating to a strong-buy rating in a report on Sunday, December 31st. Finally, Wedbush cut Gladstone Investment from an outperform rating to a neutral rating and increased their price target for the stock from $10.50 to $11.00 in a report on Monday, November 20th. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Gladstone Investment currently has a consensus rating of Buy and an average price target of $11.00.

Gladstone Investment (GAIN) remained flat at $$11.00 during trading on Thursday. The company had a trading volume of 165,300 shares, compared to its average volume of 231,833. The stock has a market capitalization of $358.22, a P/E ratio of 8.15 and a beta of 0.74. Gladstone Investment has a twelve month low of $8.45 and a twelve month high of $11.50.

Gladstone Investment (NASDAQ:GAIN) last posted its quarterly earnings results on Wednesday, November 1st. The investment management company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $13.13 million for the quarter, compared to analysts’ expectations of $12.22 million. Gladstone Investment had a return on equity of 6.95% and a net margin of 80.07%. equities analysts forecast that Gladstone Investment will post 0.71 EPS for the current year.

The firm also recently declared a special dividend, which was paid on Friday, December 15th. Shareholders of record on Tuesday, December 5th were issued a dividend of $0.06 per share. This represents a dividend yield of 7.93%. The ex-dividend date of this dividend was Monday, December 4th. Gladstone Investment’s payout ratio is 57.78%.

In other news, Director Walter H. Wilkinson bought 5,730 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The shares were bought at an average cost of $10.84 per share, for a total transaction of $62,113.20. Following the acquisition, the director now directly owns 14,416 shares in the company, valued at $156,269.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 modified their holdings of the stock. Royal Bank of Canada lifted its holdings in shares of Gladstone Investment by 0.4% in the 2nd quarter. Royal Bank of Canada now owns 24,110 shares of the investment management company’s stock worth $227,000 after purchasing an additional 106 shares in the last quarter. Parametric Portfolio Associates LLC lifted its holdings in shares of Gladstone Investment by 0.8% in 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 in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Gladstone Investment by 2.6% in the 2nd quarter. Wells Fargo & Company MN now owns 41,031 shares of the investment management company’s stock worth $386,000 after purchasing an additional 1,048 shares in the last quarter. Tudor Investment Corp ET AL lifted its holdings in shares of Gladstone Investment by 10.7% in the 2nd quarter. Tudor Investment Corp ET AL now owns 11,952 shares of the investment management company’s stock worth $112,000 after purchasing an additional 1,152 shares in the last quarter. Finally, LSV Asset Management lifted its holdings in shares of Gladstone Investment by 1.1% in the 2nd quarter. LSV Asset Management now owns 501,916 shares of the investment management company’s stock worth $4,718,000 after purchasing an additional 5,417 shares in the last quarter. Institutional investors own 17.36% of the company’s stock.

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Gladstone Investment 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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