Gladstone Investment Corporation (GAIN) Upgraded at Zacks Investment Research
Gladstone Investment Corporation (NASDAQ:GAIN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday. The brokerage currently has a $12.00 target price on the investment management company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 11.84% from the company’s previous close.
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. “
A number of other equities research analysts have also issued reports on the stock. ValuEngine lowered shares of Gladstone Investment Corporation from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $9.00 target price on shares of Gladstone Investment Corporation in a research report on Wednesday, August 16th. Finally, BidaskClub cut shares of Gladstone Investment Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Gladstone Investment Corporation currently has an average rating of “Buy” and an average target price of $10.67.
Shares of Gladstone Investment Corporation (GAIN) traded up $0.18 during mid-day trading on Monday, hitting $10.73. 277,602 shares of the company were exchanged, compared to its average volume of 175,618. The stock has a market cap of $346.73, a PE ratio of 15.29 and a beta of 0.73. Gladstone Investment Corporation has a 12 month low of $7.50 and a 12 month high of $10.74.
Gladstone Investment Corporation (NASDAQ:GAIN) last posted its earnings results on Wednesday, November 1st. The investment management company reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.01. The business had revenue of $13.13 million for the quarter, compared to analysts’ expectations of $12.22 million. Gladstone Investment Corporation had a net margin of 80.07% and a return on equity of 6.95%. equities research analysts forecast that Gladstone Investment Corporation will post 0.71 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN grew its stake in Gladstone Investment Corporation by 7.3% in the 1st quarter. Wells Fargo & Company MN now owns 39,983 shares of the investment management company’s stock valued at $363,000 after acquiring an additional 2,731 shares during the period. Legal & General Group Plc raised its holdings in shares of Gladstone Investment Corporation by 10.6% during the 1st quarter. Legal & General Group Plc now owns 71,843 shares of the investment management company’s stock worth $651,000 after acquiring an additional 6,884 shares during the period. KCG Holdings Inc. purchased a new position in shares of Gladstone Investment Corporation during the 1st quarter worth $407,000. Goldman Sachs Group Inc. raised its holdings in shares of Gladstone Investment Corporation by 10.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 39,927 shares of the investment management company’s stock worth $362,000 after acquiring an additional 3,867 shares during the period. Finally, Bank of Montreal Can purchased a new position in shares of Gladstone Investment Corporation during the 2nd quarter worth $3,422,000. 18.15% of the stock is currently owned by institutional investors and hedge funds.
Gladstone Investment Corporation 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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