Gladstone Investment (NASDAQ:GAIN) was upgraded by Ladenburg Thalmann Financial Services from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday, February 7th, MarketBeat reports.
A number of other analysts also recently commented on GAIN. BidaskClub downgraded shares of Gladstone Investment from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Zacks Investment Research cut shares of Gladstone Investment from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Jefferies Group lifted their target price on shares of Gladstone Investment from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, November 3rd. ValuEngine raised shares of Gladstone Investment from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 4th. Finally, Wedbush downgraded shares of Gladstone Investment from an “outperform” rating to a “neutral” rating and lifted their target price for the stock from $10.50 to $11.00 in a research report on Monday, November 20th. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $11.00.
Shares of Gladstone Investment (NASDAQ:GAIN) opened at $10.46 on Wednesday. The firm has a market cap of $340.22, a PE ratio of 6.93 and a beta of 0.55. Gladstone Investment has a 52-week low of $8.45 and a 52-week high of $11.50.
In related news, Director Walter H. Wilkinson purchased 5,730 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The stock was acquired at an average cost of $10.84 per share, for a total transaction of $62,113.20. Following the completion of the acquisition, the director now owns 14,416 shares in the company, valued at approximately $156,269.44. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. LPL Financial LLC lifted its stake in Gladstone Investment by 347.6% in the fourth quarter. LPL Financial LLC now owns 69,349 shares of the investment management company’s stock valued at $774,000 after acquiring an additional 53,856 shares during the last quarter. Millennium Management LLC lifted its stake in Gladstone Investment by 228.0% in the fourth quarter. Millennium Management LLC now owns 105,456 shares of the investment management company’s stock valued at $1,177,000 after acquiring an additional 73,303 shares during the last quarter. Stockman Wealth Management Inc. acquired a new stake in Gladstone Investment in the fourth quarter valued at approximately $269,000. Arrowstreet Capital Limited Partnership acquired a new stake in Gladstone Investment in the fourth quarter valued at approximately $678,000. Finally, BlackRock Inc. lifted its stake in Gladstone Investment by 9.0% in the fourth quarter. BlackRock Inc. now owns 208,736 shares of the investment management company’s stock valued at $2,329,000 after acquiring an additional 17,156 shares during the last quarter. Hedge funds and other institutional investors own 17.21% of the company’s stock.
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About Gladstone Investment
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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