Gladstone Investment (NASDAQ:GAIN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday, Zacks.com reports. The brokerage currently has a $14.00 price target on the investment management company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 10.50% 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 firms also recently commented on GAIN. BidaskClub downgraded Gladstone Investment from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 16th. ValuEngine upgraded Gladstone Investment from a “hold” rating to a “buy” rating in a report on Thursday, August 1st.
Gladstone Investment (NASDAQ:GAIN) last released its quarterly earnings data on Wednesday, July 31st. The investment management company reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.05. The firm had revenue of $17.31 million during the quarter, compared to the consensus estimate of $13.69 million. Gladstone Investment had a return on equity of 6.84% and a net margin of 89.98%. As a group, equities research analysts expect that Gladstone Investment will post 0.86 EPS for the current fiscal year.
In related news, CEO David Gladstone purchased 20,581 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was acquired at an average price of $11.99 per share, for a total transaction of $246,766.19. Following the completion of the acquisition, the chief executive officer now owns 666,554 shares of the company’s stock, valued at approximately $7,991,982.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Terry Lee Brubaker sold 21,502 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $11.52, for a total value of $247,703.04. Following the sale, the chief operating officer now owns 8,733 shares of the company’s stock, valued at approximately $100,604.16. The disclosure for this sale can be found here. Insiders own 2.56% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Aperio Group LLC grew its holdings in Gladstone Investment by 136.5% during the second quarter. Aperio Group LLC now owns 32,895 shares of the investment management company’s stock worth $369,000 after buying an additional 18,988 shares in the last quarter. Advisor Group Inc. grew its holdings in Gladstone Investment by 48.1% during the second quarter. Advisor Group Inc. now owns 17,006 shares of the investment management company’s stock worth $191,000 after buying an additional 5,524 shares in the last quarter. AE Wealth Management LLC bought a new stake in Gladstone Investment during the second quarter worth $124,000. Commonwealth Equity Services LLC grew its holdings in Gladstone Investment by 17.5% during the second quarter. Commonwealth Equity Services LLC now owns 27,521 shares of the investment management company’s stock worth $309,000 after buying an additional 4,107 shares in the last quarter. Finally, Atlantic Union Bankshares Corp bought a new stake in Gladstone Investment during the second quarter worth $1,785,000. Institutional investors and hedge funds own 12.60% of the company’s stock.
Gladstone Investment Company Profile
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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