Gladstone Investment Corporation (NASDAQ:GAIN – Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $15.38 and traded as high as $16.59. Gladstone Investment shares last traded at $16.39, with a volume of 94,755 shares.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the company. Wall Street Zen upgraded Gladstone Investment from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Oppenheimer raised their target price on Gladstone Investment from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Thursday, May 14th. Zacks Research raised shares of Gladstone Investment from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 12th. Weiss Ratings cut shares of Gladstone Investment from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, August 17th. Finally, B. Riley Financial raised shares of Gladstone Investment from a “neutral” rating to a “buy” rating and increased their price target for the stock from $14.50 to $16.50 in a research report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $16.75.
View Our Latest Stock Analysis on GAIN
Gladstone Investment Price Performance
Gladstone Investment (NASDAQ:GAIN – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The investment management company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. Gladstone Investment had a net margin of 158.95% and a return on equity of 5.90%. The company had revenue of $28.36 million during the quarter, compared to analyst estimates of $25.75 million. As a group, analysts forecast that Gladstone Investment Corporation will post 1 earnings per share for the current year.
Gladstone Investment Dividend Announcement
The company also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st will be paid a dividend of $0.08 per share. This represents a c) dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend is Monday, September 21st. Gladstone Investment’s dividend payout ratio (DPR) is presently 22.97%.
Institutional Trading of Gladstone Investment
Hedge funds and other institutional investors have recently modified their holdings of the company. Kestra Advisory Services LLC acquired a new stake in shares of Gladstone Investment in the fourth quarter valued at $26,000. International Assets Investment Management LLC bought a new stake in Gladstone Investment in the fourth quarter worth about $31,000. JPMorgan Chase & Co. raised its position in Gladstone Investment by 960.8% in the second quarter. JPMorgan Chase & Co. now owns 5,304 shares of the investment management company’s stock worth $76,000 after acquiring an additional 4,804 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Gladstone Investment in the 2nd quarter valued at about $105,000. Finally, Bank of America Corp DE lifted its holdings in Gladstone Investment by 272.1% in the 3rd quarter. Bank of America Corp DE now owns 8,946 shares of the investment management company’s stock valued at $124,000 after acquiring an additional 6,542 shares during the last quarter. Institutional investors own 11.85% of the company’s stock.
Gladstone Investment Company Profile
Gladstone Investment (NASDAQ: GAIN) is a publicly traded business development company (BDC) that focuses on providing debt and equity financing to U.S. middle-market companies. As an externally managed closed-end fund, Gladstone Investment seeks to generate current income and capital appreciation for its shareholders by originating senior secured debt, subordinated debt and equity investments. The firm typically targets established businesses with revenues between $10 million and $150 million, across a range of industry sectors including business services, health care, industrials and specialty manufacturing.
The company’s investment strategy centers on deploying capital through first-lien and second-lien term loans, mezzanine debt and equity co-investments, often including warrants or other equity kickers.
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