Wall Street analysts forecast that Gladstone Investment Co. (NASDAQ:GAIN) will announce sales of $13.88 million for the current quarter, Zacks reports. Three analysts have provided estimates for Gladstone Investment’s earnings, with the highest sales estimate coming in at $14.25 million and the lowest estimate coming in at $13.26 million. Gladstone Investment posted sales of $12.36 million in the same quarter last year, which suggests a positive year-over-year growth rate of 12.3%. The company is expected to report its next quarterly earnings results on Monday, May 21st.
According to Zacks, analysts expect that Gladstone Investment will report full-year sales of $56.82 million for the current financial year, with estimates ranging from $56.20 million to $57.19 million. For the next year, analysts forecast that the firm will post sales of $76.73 million per share, with estimates ranging from $57.19 million to $109.32 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Gladstone Investment.
Gladstone Investment (NASDAQ:GAIN) last issued its quarterly earnings results on Tuesday, February 6th. The investment management company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.05. Gladstone Investment had a net margin of 87.19% and a return on equity of 7.46%. The company had revenue of $16.18 million during the quarter, compared to analysts’ expectations of $13.42 million.
NASDAQ GAIN traded up $0.09 during trading hours on Friday, reaching $10.97. 196,854 shares of the company’s stock traded hands, compared to its average volume of 210,031. Gladstone Investment has a 52-week low of $9.00 and a 52-week high of $11.50. The stock has a market cap of $344.13, a P/E ratio of 14.82 and a beta of 0.53.
The company also recently announced a special dividend, which will be paid on Friday, June 15th. Shareholders of record on Wednesday, June 6th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, June 5th. This represents a yield of 7.69%. Gladstone Investment’s dividend payout ratio (DPR) is presently 105.41%.
In other news, President David A. R. Dullum bought 5,000 shares of the firm’s stock in a transaction on Monday, March 5th. The stock was acquired at an average cost of $9.56 per share, with a total value of $47,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.40% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of the business. Archford Capital Strategies LLC raised its holdings in Gladstone Investment by 13.1% in the third quarter. Archford Capital Strategies LLC now owns 51,779 shares of the investment management company’s stock worth $491,000 after buying an additional 6,000 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Gladstone Investment by 3.7% in the third quarter. Janney Montgomery Scott LLC now owns 185,444 shares of the investment management company’s stock worth $1,760,000 after buying an additional 6,583 shares during the last quarter. Outfitter Advisors LTD. raised its holdings in Gladstone Investment by 2.8% in the fourth quarter. Outfitter Advisors LTD. now owns 249,915 shares of the investment management company’s stock worth $2,789,000 after buying an additional 6,750 shares during the last quarter. Stockman Wealth Management Inc. purchased a new position in Gladstone Investment in the fourth quarter worth about $269,000. Finally, Legal & General Group Plc raised its holdings in Gladstone Investment by 14.7% in the third quarter. Legal & General Group Plc now owns 92,087 shares of the investment management company’s stock worth $873,000 after buying an additional 11,829 shares during the last quarter. 16.64% of the stock is owned by institutional investors and hedge funds.
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Gladstone Investment 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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