Emerald Advisers Inc. PA lowered its stake in GSV Capital Corp (NASDAQ:GSVC) by 11.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 666,076 shares of the investment management company’s stock after selling 83,376 shares during the quarter. Emerald Advisers Inc. PA’s holdings in GSV Capital Corp were worth $3,603,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in GSVC. Wellington Management Group LLP lifted its stake in GSV Capital Corp by 187.3% in the 1st quarter. Wellington Management Group LLP now owns 1,257,796 shares of the investment management company’s stock worth $5,635,000 after purchasing an additional 820,036 shares in the last quarter. Intrinsic Edge Capital Management LLC purchased a new stake in GSV Capital Corp in the 2nd quarter worth $389,000. NJ State Employees Deferred Compensation Plan lifted its stake in GSV Capital Corp by 23.1% in the 3rd quarter. NJ State Employees Deferred Compensation Plan now owns 80,000 shares of the investment management company’s stock worth $433,000 after purchasing an additional 15,000 shares in the last quarter. Wells Fargo & Company MN lifted its stake in GSV Capital Corp by 9.1% in the 1st quarter. Wells Fargo & Company MN now owns 82,401 shares of the investment management company’s stock worth $370,000 after purchasing an additional 6,858 shares in the last quarter. Finally, UBS Group AG lifted its stake in GSV Capital Corp by 7.3% in the 1st quarter. UBS Group AG now owns 26,138 shares of the investment management company’s stock worth $117,000 after purchasing an additional 1,780 shares in the last quarter. Institutional investors and hedge funds own 28.90% of the company’s stock.
Shares of GSV Capital Corp (NASDAQ:GSVC) traded up $0.45 during mid-day trading on Monday, reaching $6.45. 197,700 shares of the company’s stock traded hands, compared to its average volume of 97,036. GSV Capital Corp has a 1-year low of $3.83 and a 1-year high of $6.57. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.06 and a current ratio of 0.06.
GSV Capital Corp announced that its board has authorized a share repurchase program on Tuesday, August 8th that allows the company to repurchase $5.00 million in outstanding shares. This repurchase authorization allows the investment management company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
Separately, ValuEngine upgraded shares of GSV Capital Corp from a “hold” rating to a “buy” rating in a research note on Friday, September 1st.
In other GSV Capital Corp news, CEO Mark D. Klein bought 10,000 shares of GSV Capital Corp stock in a transaction dated Wednesday, September 27th. The shares were purchased at an average cost of $5.02 per share, for a total transaction of $50,200.00. Following the acquisition, the chief executive officer now directly owns 97,340 shares in the company, valued at approximately $488,646.80. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders bought 71,772 shares of company stock worth $365,902. Insiders own 0.70% of the company’s stock.
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About GSV Capital Corp
GSV Capital Corp. (GSV Capital) is an externally managed, non-diversified closed-end management investment company. The Company’s investment objective is to maximize its portfolio’s total return, principally by seeking capital gains on its equity and equity-related investments. The Company invests principally in the equity securities, which are venture-capital-backed emerging companies.
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