Gladstone Investment (NASDAQ:GAIN) Upgraded at StockNews.com
by Amy Steele · The Cerbat GemStockNews.com upgraded shares of Gladstone Investment (NASDAQ:GAIN – Free Report) from a sell rating to a hold rating in a report released on Monday.
Separately, B. Riley dropped their target price on Gladstone Investment from $14.00 to $13.00 and set a neutral rating on the stock in a research note on Wednesday, August 7th.
Get Our Latest Stock Analysis on Gladstone Investment
Gladstone Investment Stock Performance
GAIN stock opened at $13.59 on Monday. Gladstone Investment has a one year low of $12.25 and a one year high of $14.96. The firm has a market cap of $498.60 million, a price-to-earnings ratio of 5.48 and a beta of 1.33. The firm has a 50-day simple moving average of $13.27 and a two-hundred day simple moving average of $13.78.
Gladstone Investment (NASDAQ:GAIN – Get Free Report) last posted its earnings results on Monday, August 5th. The investment management company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). Gladstone Investment had a net margin of 78.48% and a return on equity of 7.20%. The firm had revenue of $22.18 million for the quarter, compared to analysts’ expectations of $24.27 million. During the same period in the previous year, the company earned $0.25 EPS. As a group, equities analysts predict that Gladstone Investment will post 0.99 earnings per share for the current fiscal year.
Gladstone Investment Cuts Dividend
The business also recently disclosed a Variable dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, October 4th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, October 4th. Gladstone Investment’s payout ratio is currently 38.71%.
Hedge Funds Weigh In On Gladstone Investment
Several hedge funds have recently made changes to their positions in the company. Quarry LP purchased a new stake in Gladstone Investment during the 4th quarter valued at about $84,000. Creekmur Asset Management LLC purchased a new stake in Gladstone Investment in the fourth quarter valued at approximately $105,000. Drive Wealth Management LLC acquired a new position in Gladstone Investment in the 2nd quarter worth approximately $174,000. Virtu Financial LLC purchased a new position in Gladstone Investment during the 1st quarter worth approximately $198,000. Finally, United Advisor Group LLC acquired a new stake in Gladstone Investment during the 4th quarter valued at approximately $502,000. 11.85% of the stock is owned by institutional investors and hedge funds.
About Gladstone Investment
Gladstone Investment Corporation is business development company, specializes in lower middle market, mature stage, buyouts; refinancing existing debt; senior debt securities such as senior loans, senior term loans, lines of credit, and senior notes; senior subordinated debt securities such as senior subordinated loans and senior subordinated notes; junior subordinated debt securities such as subordinated notes and mezzanine loans; limited liability company interests, and warrants or options.
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