Gladstone Investment (NASDAQ:GAIN) Upgraded to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Gladstone Investment from “Sell” to “Hold,” while the broader analyst consensus remains “Buy” with a $16.75 target price.
• Gladstone Investment reported quarterly EPS of $0.26, beating the $0.22 estimate, and revenue of $28.36 million, above the $25.75 million consensus.
• Institutional ownership stands at 11.85%, with Van ECK Associates increasing its stake by 35.8% during the second quarter.

Gladstone 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 note issued to investors on Monday, Wall Street Zen reports.

Several other analysts have also recently issued reports on GAIN. Weiss Ratings cut shares of Gladstone Investment from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, September 1st. Zacks Research raised shares of Gladstone Investment from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $16.75.

Gladstone Investment Price Performance

Shares of GAIN opened at $15.25 on Monday. Gladstone Investment has a 52-week low of $13.11 and a 52-week high of $17.14. The firm's fifty day moving average is $16.12 and its two-hundred day moving average is $15.83. The stock has a market cap of $607.25 million, a PE ratio of 3.65 and a beta of 0.76.

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

Institutional Investors Weigh In On Gladstone Investment

Hedge funds and other institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp raised its stake 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 during the period. Confluence Investment Management LLC purchased a new stake in shares of Gladstone Investment in the 2nd quarter valued at approximately $572,000. Cetera Investment Advisers grew its stake 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 buying an additional 717 shares during the period. Independent Financial Group LLC purchased a new stake in shares of Gladstone Investment in the 1st quarter valued at approximately $355,000. Finally, Greenwood Gearhart LLC acquired a new stake in shares of Gladstone Investment during the 1st quarter worth approximately $254,000. 11.85% of the stock is currently owned by institutional investors and hedge funds.

About Gladstone Investment

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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