Gladstone Investment (NASDAQ:GAIN) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Gladstone Investment (NASDAQ:GAIN) from a hold rating to a buy rating in a report issued on Thursday, Zacks.com reports. Zacks Investment Research currently has $13.00 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. “

Several other research firms have also issued reports on GAIN. ValuEngine upgraded Gladstone Investment from a hold rating to a buy rating in a research report on Thursday, August 1st. BidaskClub upgraded Gladstone Investment from a sell rating to a hold rating in a research report on Saturday, August 3rd. Finally, LADENBURG THALM/SH SH lowered Gladstone Investment from a buy rating to a neutral rating in a research report on Wednesday, May 15th.

Shares of NASDAQ:GAIN traded down $0.05 during midday trading on Thursday, hitting $11.52. The company had a trading volume of 58,656 shares, compared to its average volume of 111,118. Gladstone Investment has a 12 month low of $8.70 and a 12 month high of $12.70. The company has a market cap of $379.76 million, a PE ratio of 14.11 and a beta of 0.85. The business has a fifty day moving average of $11.30.

Gladstone Investment (NASDAQ:GAIN) last posted its quarterly earnings results on Monday, May 13th. The investment management company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.03. Gladstone Investment had a return on equity of 6.84% and a net margin of 89.98%. The business had revenue of $16.10 million for the quarter, compared to analyst estimates of $13.93 million. On average, analysts expect that Gladstone Investment will post 0.86 earnings per share for the current year.

The firm also recently announced a dividend, which will be paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th will be issued a dividend of $0.068 per share. The ex-dividend date is Monday, August 19th. Gladstone Investment’s dividend payout ratio is presently 106.49%.

A number of hedge funds have recently bought and sold shares of GAIN. Advisor Group Inc. lifted its holdings in Gladstone Investment by 40.2% during the fourth quarter. Advisor Group Inc. now owns 11,521 shares of the investment management company’s stock worth $107,000 after acquiring an additional 3,306 shares in the last quarter. Legal & General Group Plc lifted its holdings in Gladstone Investment by 16.4% during the fourth quarter. Legal & General Group Plc now owns 148,377 shares of the investment management company’s stock worth $1,384,000 after acquiring an additional 20,863 shares in the last quarter. Wedbush Securities Inc. lifted its holdings in Gladstone Investment by 24.0% during the first quarter. Wedbush Securities Inc. now owns 21,692 shares of the investment management company’s stock worth $252,000 after acquiring an additional 4,196 shares in the last quarter. Bank of Montreal Can bought a new position in Gladstone Investment during the first quarter worth about $244,000. Finally, Stratos Wealth Partners LTD. lifted its holdings in Gladstone Investment by 4.8% during the first quarter. Stratos Wealth Partners LTD. now owns 34,907 shares of the investment management company’s stock worth $405,000 after acquiring an additional 1,600 shares in the last quarter. Hedge funds and other institutional investors own 12.56% of the company’s stock.

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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