Gladstone Investment Corporation (NASDAQ:GAIN) announced its quarterly earnings results on Tuesday, August 1st. The investment management company reported $0.17 EPS for the quarter, meeting analysts’ consensus estimates of $0.17, Bloomberg Earnings reports. The company had revenue of $13.62 million during the quarter, compared to analysts’ expectations of $13.01 million. Gladstone Investment Corporation had a return on equity of 6.95% and a net margin of 55.52%.
Gladstone Investment Corporation (GAIN) traded down 0.85% during mid-day trading on Friday, reaching $9.36. The company had a trading volume of 194,894 shares. The firm’s 50-day moving average is $9.49 and its 200-day moving average is $9.24. Gladstone Investment Corporation has a one year low of $7.16 and a one year high of $9.84.
The firm also recently announced a monthly dividend, which will be paid on Friday, September 29th. Investors of record on Wednesday, September 20th will be paid a dividend of $0.064 per share. The ex-dividend date is Tuesday, September 19th. This represents a $0.77 dividend on an annualized basis and a yield of 8.21%. Gladstone Investment Corporation’s payout ratio is 82.80%.
In other news, CEO David Gladstone acquired 24,000 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was purchased at an average price of $9.25 per share, for a total transaction of $222,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 625,973 shares in the company, valued at approximately $5,790,250.25. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.40% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. increased its stake in shares of Gladstone Investment Corporation by 7.3% in the first quarter. Advisors Asset Management Inc. now owns 795,167 shares of the investment management company’s stock valued at $7,212,000 after buying an additional 54,169 shares during the period. UBS Group AG increased its stake in shares of Gladstone Investment Corporation by 21.9% in the first quarter. UBS Group AG now owns 746,477 shares of the investment management company’s stock valued at $6,770,000 after buying an additional 134,165 shares during the period. LSV Asset Management increased its stake in shares of Gladstone Investment Corporation by 1.1% in the second quarter. LSV Asset Management now owns 501,916 shares of the investment management company’s stock valued at $4,718,000 after buying an additional 5,417 shares during the period. Bank of Montreal Can bought a new stake in shares of Gladstone Investment Corporation during the second quarter valued at about $3,422,000. Finally, Van ECK Associates Corp increased its stake in shares of Gladstone Investment Corporation by 21.3% in the second quarter. Van ECK Associates Corp now owns 280,855 shares of the investment management company’s stock valued at $2,640,000 after buying an additional 49,373 shares during the period. Hedge funds and other institutional investors own 20.16% of the company’s stock.
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GAIN has been the subject of a number of recent analyst reports. Zacks Investment Research cut Gladstone Investment Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, May 18th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $9.00 price target on shares of Gladstone Investment Corporation in a research note on Friday, May 12th. BidaskClub cut Gladstone Investment Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Finally, Wedbush started coverage on Gladstone Investment Corporation in a research note on Wednesday, June 14th. They issued an “outperform” rating and a $10.00 price target for the company.
About Gladstone Investment Corporation
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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