Zacks Investment Research Upgrades Gladstone Investment (NASDAQ:GAIN) 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 Monday morning, Zacks.com reports. Zacks Investment Research currently has $15.00 price objective 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. “
A number of other research analysts also recently issued reports on GAIN. Wedbush downgraded Gladstone Investment from an outperform rating to a neutral rating and lifted their price target for the company from $13.75 to $14.00 in a report on Thursday, February 6th. ValuEngine upgraded Gladstone Investment from a sell rating to a hold rating in a report on Thursday, January 16th. Finally, BidaskClub downgraded Gladstone Investment from a hold rating to a sell rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $14.50.
Gladstone Investment (NASDAQ:GAIN) last announced its quarterly earnings results on Tuesday, February 4th. The investment management company reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.01). Gladstone Investment had a net margin of 49.63% and a return on equity of 7.16%. The company had revenue of $16.00 million during the quarter, compared to analysts’ expectations of $14.08 million. As a group, equities analysts expect that Gladstone Investment will post 0.91 EPS for the current year.
The firm also recently disclosed a dividend, which will be paid on Friday, February 28th. Stockholders of record on Wednesday, February 19th will be given a $0.07 dividend. This is a boost from Gladstone Investment’s previous dividend of $0.07. The ex-dividend date is Tuesday, February 18th. Gladstone Investment’s dividend payout ratio (DPR) is presently 109.09%.
Several institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp boosted its position in shares of Gladstone Investment by 22.3% in the 4th quarter. Van ECK Associates Corp now owns 386,273 shares of the investment management company’s stock worth $5,118,000 after purchasing an additional 70,360 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Gladstone Investment in the 4th quarter worth $2,522,000. Driehaus Capital Management LLC acquired a new stake in shares of Gladstone Investment in the 4th quarter worth $2,336,000. PFG Advisors boosted its position in shares of Gladstone Investment by 3.6% in the 4th quarter. PFG Advisors now owns 171,495 shares of the investment management company’s stock worth $2,267,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Blair William & Co. IL boosted its position in shares of Gladstone Investment by 5.1% in the 4th quarter. Blair William & Co. IL now owns 132,958 shares of the investment management company’s stock worth $1,762,000 after purchasing an additional 6,392 shares in the last quarter. 13.31% of the stock is owned by hedge funds and other institutional investors.
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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