Gladstone Investment Co. (NASDAQ:GAIN) Expected Fiscal 2023 Earnings of $0.93 Per Share
Gladstone Investment Co. (NASDAQ: GAIN – Get a rating) – Equity research analysts Oppenheimer raised their full-year 2023 earnings estimates for shares of Gladstone Investment in a report released Thursday, May 12. Oppenheimer analyst Penn now expects the investment management firm to post earnings per share of $0.93 for the year, up from its previous estimate of $0.92. Oppenheimer also released estimates for Gladstone Investment Q1 2024 earnings at $0.23 EPS, Q2 2024 earnings at $0.23 EPS, Q3 2024 earnings at $0.23 EPS, Q4 2024 at $0.23 EPS and earnings for fiscal year 2024 at $0.93 EPS.
Several other research companies have also published reports on GAIN. StockNews.com upgraded Gladstone Investment from a “hold” rating to a “buy” rating in a Tuesday, May 10 research report. Zacks Investment Research downgraded Gladstone Investment from a “buy” rating to a “hold” rating in a Tuesday, April 12 research report.
GAIN opened at $14.57 on Monday. The stock has a 50-day moving average price of $15.79 and a 200-day moving average price of $16.01. The company has a market capitalization of $483.80 million, a PE ratio of 4.73, a P/E/G ratio of 5.22 and a beta of 1.48. Gladstone Investment has a 1 year minimum of $13.28 and a 1 year maximum of $17.15.
A number of hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp increased its stake in Gladstone Investment by 52.6% in Q1. Van ECK Associates Corp now owns 821,203 shares of the investment management firm worth $13,246,000 after buying an additional 283,224 shares during the period. Advisors Asset Management Inc. increased its stake in Gladstone Investment by 6.2% in the fourth quarter. Advisors Asset Management Inc. now owns 293,381 shares of the investment management company worth $5,011,000 after purchasing an additional 17,033 shares during the period. DAVENPORT & Co LLC increased its stake in Gladstone Investment by 2.0% in the 1st quarter. DAVENPORT & Co LLC now owns 274,269 shares of the investment management company worth $4,424,000 after purchasing an additional 5,357 shares during the period. BlackRock Inc. increased its stake in Gladstone Investment by 8.0% in the fourth quarter. BlackRock Inc. now owns 264,702 shares of the investment management company worth $4,522,000 after purchasing an additional 19,496 shares during the period. Finally, Morgan Stanley increased its stake in Gladstone Investment by 9.3% in the 2nd quarter. Morgan Stanley now owns 162,236 shares of the investment management firm worth $2,337,000 after purchasing an additional 13,790 shares during the period. Institutional investors and hedge funds own 11.75% of the company’s shares.
In other Gladstone Investment news, Chairman David AR Dullum purchased 5,500 shares of Gladstone Investment in a trade dated Thursday, February 24. The shares were purchased at an average price of $14.56 per share, with a total value of $80,080.00. The purchase was disclosed in a filing with the SEC, accessible via this hyperlink. 2.61% of the shares are held by company insiders.
The company also recently announced a monthly dividend, which will be paid on Thursday, June 30. Shareholders of record on Wednesday, June 22 will receive a dividend of $0.075. This represents a dividend of $0.90 on an annualized basis and a yield of 6.18%. The ex-dividend date is Tuesday, June 21. Gladstone Investment’s dividend payout ratio (DPR) is 29.22%.
About Gladstone Investments (Get a rating)
Gladstone Investment Corporation specializes in lower middle market, maturity stage, buyouts; refinance 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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