Gladstone Investment (NASDAQ:GAIN) Stock Rating Upgraded by Zacks Investment Research

Gladstone Investment (NASDAQ:GAIN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday, Zacks.com reports. The firm presently has a $14.00 price objective on the investment management company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 11.02% from the company’s previous close.

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 analysts have also recently commented on GAIN. ValuEngine raised shares of Gladstone Investment from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. BidaskClub cut shares of Gladstone Investment from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 16th.

Shares of GAIN traded down $0.06 during mid-day trading on Monday, hitting $12.61. 153,293 shares of the company’s stock were exchanged, compared to its average volume of 130,141. Gladstone Investment has a 52 week low of $8.70 and a 52 week high of $12.78. The stock’s 50-day simple moving average is $12.26 and its 200-day simple moving average is $11.81. The firm has a market cap of $411.59 million, a price-to-earnings ratio of 16.38 and a beta of 0.81.

Gladstone Investment (NASDAQ:GAIN) last announced its earnings results on Wednesday, July 31st. The investment management company reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.05. Gladstone Investment had a net margin of 89.98% and a return on equity of 6.84%. The company had revenue of $17.31 million for the quarter, compared to analysts’ expectations of $13.69 million. Sell-side analysts forecast that Gladstone Investment will post 0.86 earnings per share for the current year.

In other news, CEO David Gladstone acquired 20,581 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were acquired at an average cost of $11.99 per share, with a total value of $246,766.19. Following the completion of the purchase, the chief executive officer now directly owns 666,554 shares of the company’s stock, valued at approximately $7,991,982.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Terry Lee Brubaker sold 21,502 shares of Gladstone Investment stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $11.38, for a total transaction of $244,692.76. Following the completion of the transaction, the chief operating officer now directly owns 30,235 shares in the company, valued at $344,074.30. The disclosure for this sale can be found here. 2.56% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the stock. Aperio Group LLC increased its stake in Gladstone Investment by 136.5% in the second quarter. Aperio Group LLC now owns 32,895 shares of the investment management company’s stock valued at $369,000 after acquiring an additional 18,988 shares during the last quarter. Advisor Group Inc. increased its stake in Gladstone Investment by 48.1% in the second quarter. Advisor Group Inc. now owns 17,006 shares of the investment management company’s stock valued at $191,000 after acquiring an additional 5,524 shares during the last quarter. AE Wealth Management LLC bought a new position in Gladstone Investment in the second quarter valued at approximately $124,000. Commonwealth Equity Services LLC boosted its position in Gladstone Investment by 17.5% in the second quarter. Commonwealth Equity Services LLC now owns 27,521 shares of the investment management company’s stock valued at $309,000 after buying an additional 4,107 shares in the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new stake in Gladstone Investment in the second quarter valued at approximately $1,785,000. 12.60% of the stock is currently owned by institutional investors and hedge funds.

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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