Wall Street brokerages expect Gladstone Investment Co. (NASDAQ:GAIN – Get Rating) to post sales of $16.61 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Gladstone Investment’s earnings, with the lowest sales estimate coming in at $16.47 million and the highest estimate coming in at $16.74 million. Gladstone Investment reported sales of $16.71 million in the same quarter last year, which indicates a negative year-over-year growth rate of 0.6%. The business is scheduled to announce its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Gladstone Investment will report full year sales of $69.91 million for the current year, with estimates ranging from $69.78 million to $70.05 million. For the next financial year, analysts anticipate that the company will report sales of $67.84 million, with estimates ranging from $67.63 million to $68.05 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Gladstone Investment.
Gladstone Investment (NASDAQ:GAIN – Get Rating) last posted its earnings results on Tuesday, February 8th. The investment management company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.02. The firm had revenue of $16.74 million during the quarter, compared to analysts’ expectations of $18.05 million. Gladstone Investment had a return on equity of 7.29% and a net margin of 151.59%. During the same quarter in the previous year, the business earned $0.24 earnings per share.
GAIN stock opened at $16.08 on Thursday. The stock’s 50 day simple moving average is $15.58. The stock has a market capitalization of $533.94 million, a PE ratio of 5.04, a price-to-earnings-growth ratio of 5.82 and a beta of 1.56. Gladstone Investment has a fifty-two week low of $12.50 and a fifty-two week high of $17.15.
The company also recently disclosed a dividend, which was paid on Monday, February 14th. Shareholders of record on Friday, February 4th were paid a $0.12 dividend. The ex-dividend date of this dividend was Thursday, February 3rd. This represents a yield of 9.3%. This is a boost from Gladstone Investment’s previous dividend of $0.09. Gladstone Investment’s payout ratio is currently 28.13%.
In related news, President David A. R. Dullum bought 5,500 shares of the company’s stock in a transaction dated Thursday, February 24th. The shares were acquired at an average price of $14.56 per share, with a total value of $80,080.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.61% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE grew its holdings in Gladstone Investment by 100.9% during the second quarter. Bank of America Corp DE now owns 3,485 shares of the investment management company’s stock worth $50,000 after acquiring an additional 1,750 shares during the period. Millennium Management LLC purchased a new stake in Gladstone Investment during the second quarter worth $146,000. Raymond James Financial Services Advisors Inc. purchased a new stake in Gladstone Investment during the third quarter worth $152,000. Deutsche Bank AG boosted its position in Gladstone Investment by 166.5% during the third quarter. Deutsche Bank AG now owns 11,264 shares of the investment management company’s stock worth $156,000 after purchasing an additional 7,037 shares in the last quarter. Finally, Tudor Investment Corp Et Al purchased a new stake in Gladstone Investment during the third quarter worth $160,000. 12.21% of the stock is currently owned by hedge funds and other institutional investors.
Gladstone Investment Company Profile (Get Rating)
Gladstone Investment Corporation specializes in lower middle market, mature stage, buyouts; 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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