Gladstone Investment (NASDAQ:GAIN) Cut to "Hold" at Zacks Research

Key Points

• Zacks Research downgraded Gladstone Investment from “strong buy” to “hold,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $16.75.
• Gladstone Investment shares opened at $15.32, compared with a 52-week range of $13.11 to $17.14; the company has a market capitalization of approximately $610 million.
• The company exceeded quarterly expectations, reporting $0.26 in EPS versus the $0.22 consensus and $28.36 million in revenue versus estimates of $25.75 million.

Gladstone Investment (NASDAQ:GAIN - Get Free Report) was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Monday, Zacks reports.

Other equities analysts have also issued research reports about the company. Weiss Ratings lowered Gladstone Investment from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, September 1st. Wall Street Zen raised shares of Gladstone Investment from a "sell" rating to a "hold" rating in a research report on Monday. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $16.75.

Gladstone Investment Stock Performance

Shares of NASDAQ:GAIN opened at $15.32 on Monday. The firm has a market cap of $610.04 million, a PE ratio of 16.87 and a beta of 0.76. The firm's 50 day simple moving average is $16.06 and its 200-day simple moving average is $15.85. Gladstone Investment has a one year low of $13.11 and a one year high of $17.14.

Gladstone Investment (NASDAQ:GAIN - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The investment management company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.04. The firm had revenue of $28.36 million during the quarter, compared to analyst estimates of $25.75 million. Gladstone Investment had a return on equity of 5.90% and a net margin of 158.95%. Equities research analysts predict that Gladstone Investment will post 1.00 EPS for the current fiscal year.

Institutional Investors Weigh In On Gladstone Investment

Several institutional investors have recently added to or reduced their stakes in GAIN. Integrated Wealth Concepts LLC acquired a new position in Gladstone Investment in the 2nd quarter worth approximately $123,000. Van ECK Associates Corp lifted its stake in Gladstone Investment by 35.8% during the 2nd quarter. Van ECK Associates Corp now owns 804,098 shares of the investment management company's stock valued at $12,431,000 after acquiring an additional 212,170 shares during the period. Confluence Investment Management LLC purchased a new stake in shares of Gladstone Investment in the 2nd quarter valued at $572,000. Cetera Investment Advisers boosted its holdings in shares of Gladstone Investment by 2.3% in the 1st quarter. Cetera Investment Advisers now owns 31,653 shares of the investment management company's stock valued at $449,000 after acquiring an additional 717 shares during the last quarter. Finally, Greenwood Gearhart LLC purchased a new stake in shares of Gladstone Investment in the 1st quarter valued at $254,000. Institutional investors and hedge funds own 11.85% of the company's stock.

Gladstone Investment Company Profile

Gladstone Investment Corporation NASDAQ: GAIN is an externally managed business development company that invests in established lower-middle-market businesses in the United States. The company seeks to provide capital to privately held companies that may have limited access to traditional financing.

Gladstone Investment primarily invests through secured and unsecured debt, subordinated debt and equity securities. Its investment activities support transactions such as management buyouts, recapitalizations, acquisitions and growth initiatives.

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