Gladstone Investment Corporation (NASDAQ:GAIN) Upgraded to Hold at Zacks Investment Research

Gladstone Investment Corporation (NASDAQ:GAIN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Monday, September 11th.

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 equities research analysts have also issued reports on GAIN. Wedbush started coverage on shares of Gladstone Investment Corporation in a research note on Wednesday, June 14th. They issued an “outperform” rating and a $10.00 price target on the stock. Jefferies Group LLC reiterated a “hold” rating and issued a $9.00 price target on shares of Gladstone Investment Corporation in a research note on Friday, July 14th. BidaskClub downgraded shares of Gladstone Investment Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, ValuEngine downgraded shares of Gladstone Investment Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Gladstone Investment Corporation currently has an average rating of “Hold” and an average price target of $9.50.

Shares of Gladstone Investment Corporation (NASDAQ:GAIN) traded up 0.32% during midday trading on Monday, reaching $9.28. The company’s stock had a trading volume of 18,077 shares. Gladstone Investment Corporation has a 52 week low of $7.16 and a 52 week high of $9.84. The firm’s 50 day moving average is $9.37 and its 200 day moving average is $9.28.

Gladstone Investment Corporation (NASDAQ:GAIN) last announced its quarterly earnings results on Tuesday, August 1st. The investment management company reported $0.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.17. Gladstone Investment Corporation had a net margin of 55.52% and a return on equity of 6.95%. The company had revenue of $13.62 million for the quarter, compared to analysts’ expectations of $13.01 million. On average, equities research analysts anticipate that Gladstone Investment Corporation will post $0.70 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the business. WFG Advisors LP boosted its holdings in Gladstone Investment Corporation by 97.7% in the 2nd quarter. WFG Advisors LP now owns 60,928 shares of the investment management company’s stock valued at $573,000 after purchasing an additional 30,102 shares during the period. Susquehanna International Group LLP acquired a new position in shares of Gladstone Investment Corporation in the 2nd quarter valued at approximately $293,000. Royal Bank of Canada raised its position in shares of Gladstone Investment Corporation by 0.4% in the 2nd quarter. Royal Bank of Canada now owns 24,110 shares of the investment management company’s stock valued at $227,000 after buying an additional 106 shares in the last quarter. Garner Asset Management Corp acquired a new position in Gladstone Investment Corporation during the 2nd quarter worth approximately $521,000. Finally, Tudor Investment Corp ET AL increased its position in Gladstone Investment Corporation by 10.7% during the 2nd quarter. Tudor Investment Corp ET AL now owns 11,952 shares of the investment management company’s stock worth $112,000 after purchasing an additional 1,152 shares in the last quarter. 18.09% of the stock is owned by hedge funds and other institutional investors.

Gladstone Investment Corporation Company Profile

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.

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