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GAINL 
Gladstone Investment Corporation 8.00% Notes due 2028 (GAINL)
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Upturn Advisory Summary
06/10/2024: GAINL (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
AI Based Fundamental Rating
Outstanding Performance
These Stocks/ETFs, based on Upturn Advisory, have historically outperformed the market, making them a top-tier choice for investors.
Analysis of Past Performance
Type Stock | Historic Profit 8.28% | Avg. Invested days 230 | Today’s Advisory WEAK BUY |
Upturn Star Rating | Upturn Advisory Performance  5.0 | Stock Returns Performance  2.0 |
| Profits based on simulation | Last Close 06/10/2024 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 358.34M USD | Price to earnings Ratio - | 1Y Target Price - |
Price to earnings Ratio - | 1Y Target Price - | ||
Volume (30-day avg) 5744 | Beta 1.54 | 52 Weeks Range 23.10 - 26.61 | Updated Date 06/10/2024 |
52 Weeks Range 23.10 - 26.61 | Updated Date 06/10/2024 | ||
Dividends yield (FY) 6.36% | Basic EPS (TTM) 2.7 |
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 140.05% | Operating Margin (TTM) 42.52% |
Management Effectiveness
Return on Assets (TTM) 2.65% | Return on Equity (TTM) 22.92% |
Valuation
Trailing PE - | Forward PE - | Enterprise Value 1069038912 | Price to Sales(TTM) - |
Enterprise Value 1069038912 | Price to Sales(TTM) - | ||
Enterprise Value to Revenue - | Enterprise Value to EBITDA - | Shares Outstanding 32822500 | Shares Floating - |
Shares Outstanding 32822500 | Shares Floating - | ||
Percent Insiders - | Percent Institutions 49.57 |
Analyst Ratings
Rating - | Target Price - | Buy - | Strong Buy - |
Buy - | Strong Buy - | ||
Hold - | Sell - | Strong Sell - | |
Strong Sell - |
Upturn AI SWOT
Gladstone Investment Corporation 8.00% Notes due 2028
Company Overview
History and Background
Gladstone Investment Corporation is a publicly traded business development company (BDC) founded in 2005. It focuses on investing in lower middle market companies in the United States. The 8.00% Notes due 2028 represent a specific debt offering used to raise capital for these investments.
Core Business Areas
- Debt Investments: Providing senior debt, second lien debt, and mezzanine debt to lower middle market companies.
- Equity Investments: Making equity investments in conjunction with debt investments, often taking a minority stake.
Leadership and Structure
Gladstone Investment Corporation is led by David Gladstone (Chairman and CEO) and operates with a management team responsible for investment origination, underwriting, and portfolio management.
Top Products and Market Share
Key Offerings
- Senior Debt: Providing senior secured loans to lower middle market companies. These loans typically have priority in repayment. Competitors include other BDCs and private credit funds. Market share data is not readily available for specific debt types within the BDC industry.
- Mezzanine Debt: Providing mezzanine debt, which is subordinated to senior debt but typically has a higher interest rate. Competitors include other BDCs and private credit funds. Market share data is not readily available for specific debt types within the BDC industry.
- Equity Investments: Providing minority equity investments along with debt investments. Market share data is not readily available for specific equity investment types within the BDC industry.
Market Dynamics
Industry Overview
The BDC industry is characterized by companies providing capital to small and medium-sized businesses that may have difficulty accessing traditional financing. The industry is influenced by interest rates, economic growth, and regulatory changes.
Positioning
Gladstone Investment Corporation focuses on the lower middle market, seeking to provide both debt and equity financing to companies with established cash flows and growth potential. Its competitive advantage lies in its experience and established network.
Total Addressable Market (TAM)
The TAM for lower middle market financing is substantial. Gladstone Investment Corporation's positioning allows it to capture a share of this market, estimated to be billions of dollars annually, based on overall lending to lower middle market companies. However, the exact TAM specific to Gladstone Investment's target companies is difficult to quantify.
Upturn SWOT Analysis
Strengths
- Experienced management team
- Established track record in lower middle market investing
- Diversified portfolio
- Access to capital through public markets
Weaknesses
- Reliance on external financing
- Sensitivity to interest rate changes
- Credit risk associated with investments in smaller companies
- Fluctuations in net asset value
Opportunities
- Growing demand for capital in the lower middle market
- Potential for increased investment yields in a rising interest rate environment
- Ability to expand portfolio through acquisitions
- Increasing focus on ESG investing
Threats
- Economic downturn leading to increased defaults
- Increased competition from other BDCs and private credit funds
- Regulatory changes impacting the BDC industry
- Rising interest rates increasing borrowing costs
Competitors and Market Share
Key Competitors
- ARCC
- TCPC
- MAIN
- FSK
Competitive Landscape
Gladstone Investment competes with other BDCs and private credit funds for investment opportunities. Its success depends on its ability to source attractive deals, manage credit risk, and generate returns for shareholders.
Major Acquisitions
Growth Trajectory and Initiatives
Historical Growth: Historical growth can be assessed by reviewing past revenue, net income, and portfolio growth.
Future Projections: Future projections are based on analyst estimates, which can be found on financial websites. These estimates are subject to change.
Recent Initiatives: Recent strategic initiatives are announced through press releases and investor presentations. These may include new investments, acquisitions, or changes in strategy.
Summary
Gladstone Investment Corporation is a BDC focused on providing debt and equity financing to lower middle market companies. Its strengths include an experienced management team and access to capital markets. However, it faces risks related to interest rates and credit quality. The company's success depends on its ability to navigate these challenges and continue to generate returns for shareholders.
Similar Companies
ARCC
Ares Capital Corporation
ARCC
Ares Capital Corporation
FSK
FS KKR Capital Corp
FSK
FS KKR Capital Corp
MAIN
Main Street Capital Corporation
MAIN
Main Street Capital Corporation
TCPC
BlackRock TCP Capital Corp
TCPC
BlackRock TCP Capital Corp
Sources and Disclaimers
Data Sources:
- SEC Filings (10-K, 10-Q)
- Company Website
- Financial News Articles
- Analyst Reports
Disclaimers:
The information provided is for informational purposes only and should not be considered investment advice. Investment decisions should be based on individual due diligence and consultation with a financial professional. Market share estimates are approximate and may vary.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Gladstone Investment Corporation 8.00% Notes due 2028
Exchange NASDAQ | Headquaters McLean, VA, United States | ||
IPO Launch date 2018-08-15 | Chairman & CEO Mr. David John Gladstone | ||
Sector - | Industry - | Full time employees - | |
Full time employees - | |||
Gladstone Investment Corporation specializes in lower middle market, mature stage, buyouts; refinancing 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. The fund does not invest in start-ups. The fund seeks to invest in manufacturing, consumer products and business services/ distribution sector. It seeks to invest in small and mid-sized companies based in the United States. The fund prefers to make debt investments between $5 million and $30 million and equity investments between $10 million and $40 million in companies. The fund seeks to invest in companies with sales between $20 million and $100 million. The fund invests in companies with EBITDA from $3 million to $20 million. It seeks minority equity ownership and prefers to hold a board seat in its portfolio companies. It also prefers to take majority stake in its portfolio companies. The fund typically holds the investments for seven years and exits via sale or recapitalization, initial public offering, or sale to third party.
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