Gladstone Investment Co. (NASDAQ:GAIN)’s share price traded up 20.5% on Wednesday . The company traded as high as $7.48 and last traded at $8.70, 21,605 shares were traded during mid-day trading. A decline of 95% from the average session volume of 456,340 shares. The stock had previously closed at $7.22.
A number of analysts recently weighed in on the stock. ValuEngine raised shares of Gladstone Investment from a “sell” rating to a “hold” rating in a research report on Thursday, January 16th. BidaskClub lowered shares of Gladstone Investment from a “sell” rating to a “strong sell” rating in a research report on Friday, March 20th. National Securities assumed coverage on shares of Gladstone Investment in a research report on Thursday, March 5th. They issued a “neutral” rating and a $11.50 price objective on the stock. Zacks Investment Research raised shares of Gladstone Investment from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Monday, February 10th. Finally, Wedbush lowered shares of Gladstone Investment from an “outperform” rating to a “neutral” rating and increased their price objective for the stock from $13.75 to $14.00 in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $13.50.
The company has a market capitalization of $276.79 million, a PE ratio of 8.49 and a beta of 0.91. The stock’s 50-day moving average is $11.46 and its two-hundred day moving average is $12.86.
Gladstone Investment (NASDAQ:GAIN) last posted its quarterly earnings data on Tuesday, February 4th. The investment management company reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.01). Gladstone Investment had a return on equity of 7.16% and a net margin of 49.63%. The firm had revenue of $16.00 million during the quarter, compared to analysts’ expectations of $14.08 million. Equities research analysts anticipate that Gladstone Investment Co. will post 0.91 earnings per share for the current fiscal year.
The business also recently announced a dividend, which was paid on Friday, February 28th. Stockholders of record on Wednesday, February 19th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This is a positive change from Gladstone Investment’s previous dividend of $0.07. Gladstone Investment’s dividend payout ratio (DPR) is 109.09%.
In related news, President David A. R. Dullum bought 10,000 shares of Gladstone Investment stock in a transaction dated Wednesday, March 11th. The shares were acquired at an average cost of $10.49 per share, with a total value of $104,900.00. Following the completion of the transaction, the president now owns 110,916 shares in the company, valued at approximately $1,163,508.84. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, President David A. R. Dullum bought 8,000 shares of Gladstone Investment stock in a transaction dated Wednesday, March 18th. The shares were bought at an average cost of $7.96 per share, for a total transaction of $63,680.00. Over the last ninety days, insiders have bought 26,500 shares of company stock worth $234,735. Corporate insiders own 2.56% of the company’s stock.
Large investors have recently modified their holdings of the company. Sofos Investments Inc. increased its position in shares of Gladstone Investment by 41.8% during the fourth quarter. Sofos Investments Inc. now owns 3,826 shares of the investment management company’s stock worth $51,000 after acquiring an additional 1,128 shares during the period. Stelac Advisory Services LLC bought a new position in shares of Gladstone Investment during the fourth quarter valued at approximately $101,000. Advisory Services Network LLC boosted its stake in shares of Gladstone Investment by 198.2% during the fourth quarter. Advisory Services Network LLC now owns 9,211 shares of the investment management company’s stock valued at $122,000 after purchasing an additional 6,122 shares in the last quarter. Great West Life Assurance Co. Can bought a new position in shares of Gladstone Investment during the fourth quarter valued at approximately $142,000. Finally, Belpointe Asset Management LLC boosted its stake in shares of Gladstone Investment by 7.2% during the fourth quarter. Belpointe Asset Management LLC now owns 12,659 shares of the investment management company’s stock valued at $168,000 after purchasing an additional 850 shares in the last quarter. 16.59% of the stock is currently owned by institutional investors and hedge funds.
About Gladstone Investment (NASDAQ:GAIN)
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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