Recently trading up 0.40% and reaching $7.49 of their 155,781 shares of stock traded hands, with 52 weeks low of $6.66 and 52 weeks high of $8.25, Gladstone Investment was upgraded by Zacks from a rating of “sell” to “hold”. The company’s stocks had a 200-day moving average of $7.62 and a 50-day moving average of $7.31. Zacks stated, “Gladstone Investment Corporation is an investment company that seeks to make equity-type investments in small and mid-sized private businesses in the U.S.”
In their post on August 4, Gladstone Investment reported $0.17 earnings per share for the 3rd quarter of 2015, missing the consensus estimate of $0.19 by $0.02. According to equities research analysts, the company was expected to post $0.73 EPS in average for 2015. Also, they recently announced a monthly dividend, which will be paid on December 31, 2015, and investors of record on December 18, 2015 will be paid a $0.0625 dividend, which represents a $0.75 dividend on a yearly basis with a 10.01% yield.
Operating as a non-diversified, closed-end management investment company, Gladstone Investment Corporation is a publicly traded business development firm investing in small and moderate-sized private enterprises and seeks to achieve capital gains and returns through equity and debt investments, paying monthly dividends to their stockholders. Based upon small to mid-market companies, the company’s investment funds are making debt and equity investments in the US. Focusing on mezzanine debt, second lien debt, secured and unsecured subordinated loans, as well as real-estate sale leasebacks, the company invests in sectors, such as industrial goods, light and specialty manufacturing, media and communications, company and government services, healthcare services, consumer products and services, energy services, specialty chemicals and transportation. They have Gladstone Management Corporation as their investment adviser.
On a separate note, Jefferies Group initiated coverage on Gladstone on June 30, 2015, issuing a “hold” rating and an $8.00 for the company’s target price.