Gladstone Investment (GAIN) Lifted to Strong-Buy at ValuEngine

ValuEngine upgraded shares of Gladstone Investment (NASDAQ:GAIN) from a buy rating to a strong-buy rating in a research note released on Sunday morning.

Several other research firms have also issued reports on GAIN. Wedbush lowered Gladstone Investment from an outperform rating to a neutral rating and increased their target price for the stock from $10.50 to $11.00 in a research note on Monday, November 20th. Zacks Investment Research lowered Gladstone Investment from a buy rating to a hold rating in a research note on Tuesday, November 7th. Finally, Jefferies Group increased their target price on Gladstone Investment from $9.00 to $10.00 and gave the stock a hold rating in a research note on Friday, November 3rd. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. The company currently has an average rating of Hold and an average price target of $11.00.

Gladstone Investment (GAIN) opened at $11.00 on Friday. The firm has a market capitalization of $357.79, a price-to-earnings ratio of 8.15 and a beta of 0.74. Gladstone Investment has a twelve month low of $8.45 and a twelve month high of $11.50.

Gladstone Investment (NASDAQ:GAIN) last released its quarterly earnings results on Wednesday, November 1st. The investment management company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $13.13 million during the quarter, compared to analysts’ expectations of $12.22 million. Gladstone Investment had a return on equity of 6.95% and a net margin of 80.07%. analysts expect that Gladstone Investment will post 0.71 EPS for the current year.

The company also recently announced a special dividend, which was paid on Friday, December 15th. Investors of record on Tuesday, December 5th were paid a dividend of $0.06 per share. This represents a yield of 7.93%. The ex-dividend date of this dividend was Monday, December 4th. Gladstone Investment’s payout ratio is 57.78%.

In other news, Director Walter H. Wilkinson bought 5,730 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The shares were purchased at an average price of $10.84 per share, with a total value of $62,113.20. Following the purchase, the director now owns 14,416 shares in the company, valued at $156,269.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.40% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of GAIN. Legal & General Group Plc lifted its stake in Gladstone Investment by 11.7% during the 2nd quarter. Legal & General Group Plc now owns 80,258 shares of the investment management company’s stock worth $754,000 after acquiring an additional 8,415 shares in the last quarter. LSV Asset Management raised its position in Gladstone Investment by 1.1% in the 2nd quarter. LSV Asset Management now owns 501,916 shares of the investment management company’s stock valued at $4,718,000 after purchasing an additional 5,417 shares in the last quarter. Wells Fargo & Company MN raised its position in Gladstone Investment by 2.6% in the 2nd quarter. Wells Fargo & Company MN now owns 41,031 shares of the investment management company’s stock valued at $386,000 after purchasing an additional 1,048 shares in the last quarter. Van ECK Associates Corp raised its position in Gladstone Investment by 21.3% in the 2nd quarter. Van ECK Associates Corp now owns 280,855 shares of the investment management company’s stock valued at $2,640,000 after purchasing an additional 49,373 shares in the last quarter. Finally, GSA Capital Partners LLP raised its position in Gladstone Investment by 72.6% in the 2nd quarter. GSA Capital Partners LLP now owns 242,700 shares of the investment management company’s stock valued at $2,281,000 after purchasing an additional 102,100 shares in the last quarter. 17.36% of the stock is currently owned by hedge funds and other institutional investors.

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About Gladstone Investment

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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