Gladstone Investment (NASDAQ:GAIN) Upgraded at BidaskClub

BidaskClub upgraded shares of Gladstone Investment (NASDAQ:GAIN) from a hold rating to a buy rating in a report issued on Friday morning, BidAskClub reports.

GAIN has been the topic of several other reports. ValuEngine upgraded Gladstone Investment from a hold rating to a buy rating in a report on Thursday, August 1st. Zacks Investment Research upgraded Gladstone Investment from a hold rating to a buy rating and set a $13.00 price target on the stock in a report on Thursday, August 8th.

NASDAQ:GAIN opened at $12.42 on Friday. The stock has a market cap of $405.03 million, a P/E ratio of 16.13 and a beta of 0.83. The stock’s 50-day moving average is $11.61 and its 200-day moving average is $11.69. Gladstone Investment has a 1-year low of $8.70 and a 1-year high of $12.70.

Gladstone Investment (NASDAQ:GAIN) last released its quarterly earnings results on Wednesday, July 31st. The investment management company reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.05. The company had revenue of $17.31 million for the quarter, compared to analysts’ expectations of $13.69 million. Gladstone Investment had a return on equity of 6.84% and a net margin of 89.98%. Equities analysts forecast that Gladstone Investment will post 0.86 earnings per share for the current fiscal year.

The company also recently declared a dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 17th will be issued a dividend of $0.068 per share. This is a boost from Gladstone Investment’s previous dividend of $0.03. The ex-dividend date of this dividend is Monday, September 16th. Gladstone Investment’s payout ratio is 106.49%.

In related news, President David A. R. Dullum bought 2,400 shares of Gladstone Investment stock in a transaction that occurred on Friday, September 13th. The shares were acquired at an average cost of $12.44 per share, for a total transaction of $29,856.00. Following the completion of the acquisition, the president now directly owns 97,616 shares of the company’s stock, valued at approximately $1,214,343.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Terry Lee Brubaker sold 21,502 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $11.52, for a total value of $247,703.04. Following the completion of the sale, the chief operating officer now owns 8,733 shares in the company, valued at $100,604.16. The disclosure for this sale can be found here. Insiders own 2.56% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp boosted its holdings in Gladstone Investment by 10.1% in the second quarter. Van ECK Associates Corp now owns 307,817 shares of the investment management company’s stock valued at $3,457,000 after acquiring an additional 28,326 shares during the last quarter. Virtus ETF Advisers LLC bought a new stake in Gladstone Investment in the second quarter valued at approximately $2,630,000. Janney Montgomery Scott LLC boosted its holdings in Gladstone Investment by 0.6% in the second quarter. Janney Montgomery Scott LLC now owns 166,374 shares of the investment management company’s stock valued at $1,868,000 after acquiring an additional 960 shares during the last quarter. Atlantic Union Bankshares Corp bought a new stake in Gladstone Investment in the second quarter valued at approximately $1,785,000. Finally, Morgan Stanley boosted its holdings in Gladstone Investment by 25.9% in the second quarter. Morgan Stanley now owns 119,627 shares of the investment management company’s stock valued at $1,343,000 after acquiring an additional 24,625 shares during the last quarter. Institutional investors and hedge funds own 12.97% of the company’s stock.

Gladstone Investment Company Profile

Gladstone Investment Corporation is a private equity fund specializing in lower middle market, acquisitions, mature stage, buyouts; recapitalizations; 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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