Gladstone Investment (NASDAQ:GAIN) Raised to Hold at Wall Street Zen
by Amy Steele · The Cerbat GemGladstone Investment (NASDAQ:GAIN – Get Free Report) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday, Wall Street Zen reports.
Other equities research analysts also recently issued research reports about the stock. Weiss Ratings downgraded shares of Gladstone Investment from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, September 1st. Zacks Research raised shares of Gladstone Investment from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $16.75.
Get Our Latest Stock Report on Gladstone Investment
Gladstone Investment Stock Performance
Shares of NASDAQ GAIN opened at $15.81 on Friday. The stock has a fifty day moving average price of $16.26 and a 200 day moving average price of $15.73. Gladstone Investment has a 12-month low of $13.11 and a 12-month high of $17.14. The company has a market cap of $629.55 million, a P/E ratio of 3.78 and a beta of 0.77.
Gladstone Investment (NASDAQ:GAIN – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The investment management company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.04. Gladstone Investment had a net margin of 158.95% and a return on equity of 5.90%. The firm had revenue of $28.36 million for the quarter, compared to the consensus estimate of $25.75 million. On average, sell-side analysts forecast that Gladstone Investment will post 1 EPS for the current fiscal year.
Institutional Investors Weigh In On Gladstone Investment
A number of hedge funds and other institutional investors have recently modified their holdings of GAIN. Van ECK Associates Corp raised its holdings in Gladstone Investment by 35.8% during the second quarter. Van ECK Associates Corp now owns 804,098 shares of the investment management company’s stock worth $12,431,000 after purchasing an additional 212,170 shares in the last quarter. Confluence Investment Management LLC bought a new position in Gladstone Investment during the 2nd quarter valued at $572,000. Cetera Investment Advisers increased its position in shares of Gladstone Investment by 2.3% during the 1st quarter. Cetera Investment Advisers now owns 31,653 shares of the investment management company’s stock valued at $449,000 after purchasing an additional 717 shares during the period. Independent Financial Group LLC acquired a new position in shares of Gladstone Investment during the 1st quarter valued at $355,000. Finally, Greenwood Gearhart LLC bought a new stake in shares of Gladstone Investment in the 1st quarter worth $254,000. 11.85% of the stock is currently owned by institutional investors.
About Gladstone Investment
Gladstone Investment Corporation (NASDAQ: GAIN) is a business development company that provides financing and equity capital to established lower middle-market businesses in the United States. The company invests in companies across a range of industries and generally seeks businesses with stable operations, experienced management teams and opportunities for growth or operational improvement.
Gladstone Investment’s activities include originating and investing in secured debt, subordinated debt and equity securities.