Van ECK Associates Corp has seen a healthy position boost in shares of Gladstone Investment Co. This institutional investor has purchased an additional 12,859 shares during the fourth quarter, boosting its position by 2.9%. With this new purchase, Van ECK Associates Corp now owns approximately 1.34% of the investment management company’s stock which at the end of the most recent reporting period was worth $5,809,000.
Several analysts have offered their opinions on Gladstone Investment. TheStreet raised them from a “c+” rating to a “b” rating on February 6th and StockNews.com began covering them with a “hold” rating for the company on March 16th. Two other equities research analysts have rated the stock with a hold rating while two others issued a buy rating to the company’s stock. According to data from Bloomberg, the company currently has a consensus rating of “Moderate Buy” and an average price target of $13.17.
The firm opened at $13.31 on Wednesday and has seen both high and low prices over the past year, reaching as much as $15.86 and sinking as low as $11.40 respectively.
Overall, these developments suggest that there is momentum in both ownership and interest in Gladstone Investment Co., cementing it as an attractive option for those looking to invest in this area of the market with potentially positive financial results to follow.
Institutional Investors Show Strong Interest in Gladstone Investment’s Stock
Gladstone Investment, the renowned investment management company, has seen a recent flurry of activity in terms of share purchases and sales by institutional investors. Geneos Wealth Management Inc. has recently bought shares worth $199,000 while International Assets Investment Management LLC raised its stake by 12.1% to add $1,082,000 to their holdings. Concorde Asset Management LLC acquired a new position worth $595,000 while Great West Life Assurance Co. Can increased their holding by 10.9% adding 3,861 shares during the last quarter and thereby putting their total holdings at $474,000.
Jump Financial LLC was also quick to acquire newly issued shares for an amount totaling $133,000 in the third quarter. The stock is currently owned by hedge funds and other institutional investors to the tune of 12.14%. However, it was President David A.R Dullum who caught the attention of many investors when he personally invested in Gladstone Investment with an acquisition of 3,000 shares at an average price of $12.84 per share equating to a transaction cost of $38,520.
Furthermore, investors can take comfort from Gladstone Investment’s commitment to rewarding their shareholders with regular monthly dividends; one such dividend is set to take place on Friday June 30th while the ex-dividend date is scheduled for Tuesday June 20th.
Considering all these happenings around Gladstone Investment’s stock and its recent sizeable investments from institutional investors make it abundantly clear that there are likely sound reasons behind this sudden increase in buying activity; therefore makes a convincing case for potential buyers to get involved too.