Analysts expect Gladstone Investment Co. (NASDAQ:GAIN) to report sales of $13.42 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Gladstone Investment’s earnings. The lowest sales estimate is $13.19 million and the highest is $13.65 million. Gladstone Investment reported sales of $13.37 million during the same quarter last year, which suggests a positive year-over-year growth rate of 0.4%. The business is expected to announce its next earnings results after the market closes on Tuesday, February 6th.
According to Zacks, analysts expect that Gladstone Investment will report full year sales of $13.42 million for the current year, with estimates ranging from $53.90 million to $54.45 million. For the next fiscal year, analysts forecast that the firm will post sales of $61.76 million per share. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Gladstone Investment.
GAIN has been the topic of a number of recent research reports. BidaskClub cut shares of Gladstone Investment from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 23rd. Zacks Investment Research raised shares of Gladstone Investment from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Monday, November 6th. ValuEngine raised shares of Gladstone Investment from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Wedbush cut shares of Gladstone Investment from an “outperform” rating to a “neutral” rating and lifted their price target for the company from $10.50 to $11.00 in a research report on Monday, November 20th. Finally, Jefferies Group lifted their price target on shares of Gladstone Investment from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Friday, November 3rd. Four equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $11.00.
In other news, Director Walter H. Wilkinson bought 5,730 shares of Gladstone Investment stock in a transaction dated Tuesday, November 28th. The shares were acquired at an average cost of $10.84 per share, with a total value of $62,113.20. Following the completion of the transaction, the director now owns 14,416 shares in the company, valued at approximately $156,269.44. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.40% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada lifted its position in shares of Gladstone Investment by 0.4% during the second quarter. Royal Bank of Canada now owns 24,110 shares of the investment management company’s stock worth $227,000 after purchasing an additional 106 shares in the last quarter. Parametric Portfolio Associates LLC lifted its position in shares of Gladstone Investment by 0.8% during the second quarter. Parametric Portfolio Associates LLC now owns 18,727 shares of the investment management company’s stock worth $176,000 after purchasing an additional 148 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Gladstone Investment by 2.6% during the second quarter. Wells Fargo & Company MN now owns 41,031 shares of the investment management company’s stock worth $386,000 after purchasing an additional 1,048 shares in the last quarter. Tudor Investment Corp ET AL lifted its position in shares of Gladstone Investment by 10.7% during the second quarter. Tudor Investment Corp ET AL now owns 11,952 shares of the investment management company’s stock worth $112,000 after purchasing an additional 1,152 shares in the last quarter. Finally, Archford Capital Strategies LLC lifted its position in shares of Gladstone Investment by 13.1% during the third quarter. Archford Capital Strategies LLC now owns 51,779 shares of the investment management company’s stock worth $491,000 after purchasing an additional 6,000 shares in the last quarter. 17.09% of the stock is currently owned by institutional investors and hedge funds.
Gladstone Investment (GAIN) opened at $9.66 on Monday. The firm has a market cap of $314.20, a P/E ratio of 7.16 and a beta of 0.54. Gladstone Investment has a 12-month low of $8.45 and a 12-month high of $11.50.
The company also recently announced a monthly dividend, which will be paid on Friday, March 30th. Stockholders of record on Tuesday, March 20th will be given a dividend of $0.065 per share. The ex-dividend date of this dividend is Monday, March 19th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 8.07%. Gladstone Investment’s payout ratio is currently 57.78%.
Gladstone Investment 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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