Gladstone Investment Co. (NASDAQ:GAIN) CEO David Gladstone Buys 20,581 Shares
Gladstone Investment Co. (NASDAQ:GAIN) CEO David Gladstone purchased 20,581 shares of Gladstone Investment stock in a transaction dated Monday, September 9th. The shares were acquired at an average cost of $11.99 per share, for a total transaction of $246,766.19. Following the transaction, the chief executive officer now directly owns 666,554 shares of the company’s stock, valued at approximately $7,991,982.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of NASDAQ GAIN traded up $0.23 during mid-day trading on Wednesday, hitting $12.35. The company had a trading volume of 164,305 shares, compared to its average volume of 132,307. The company has a market capitalization of $394.20 million, a PE ratio of 16.04 and a beta of 0.83. Gladstone Investment Co. has a 1-year low of $8.70 and a 1-year high of $12.70. The business’s 50-day simple moving average is $11.50 and its 200 day simple moving average is $11.68.
Gladstone Investment (NASDAQ:GAIN) last released its earnings results on Wednesday, July 31st. The investment management company reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.05. Gladstone Investment had a return on equity of 6.84% and a net margin of 89.98%. The firm had revenue of $17.31 million during the quarter, compared to analysts’ expectations of $13.69 million. As a group, analysts expect that Gladstone Investment Co. will post 0.86 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Winslow Evans & Crocker Inc. grew its position in shares of Gladstone Investment by 65.0% during the second quarter. Winslow Evans & Crocker Inc. now owns 2,600 shares of the investment management company’s stock worth $30,000 after buying an additional 1,024 shares in the last quarter. Advisory Services Network LLC lifted its stake in Gladstone Investment by 44.5% in the first quarter. Advisory Services Network LLC now owns 3,020 shares of the investment management company’s stock worth $35,000 after acquiring an additional 930 shares during the last quarter. AE Wealth Management LLC purchased a new position in Gladstone Investment in the second quarter worth approximately $124,000. Advisor Group Inc. grew its holdings in Gladstone Investment by 48.1% during the 2nd quarter. Advisor Group Inc. now owns 17,006 shares of the investment management company’s stock worth $191,000 after acquiring an additional 5,524 shares in the last quarter. Finally, Bank of Montreal Can acquired a new position in Gladstone Investment during the 1st quarter worth approximately $244,000. Institutional investors and hedge funds own 12.97% of the company’s stock.
Several research analysts have recently commented on GAIN shares. ValuEngine raised shares of Gladstone Investment from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Zacks Investment Research raised shares of Gladstone Investment from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Thursday, August 8th. LADENBURG THALM/SH SH lowered shares of Gladstone Investment from a “buy” rating to a “neutral” rating in a report on Wednesday, May 15th. Finally, BidaskClub cut shares of Gladstone Investment from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th.
About Gladstone Investment
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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