Confluence Investment Management LLC Invests $572,000 in Gladstone Investment Corporation $GAIN

Confluence Investment Management LLC bought a new stake in Gladstone Investment Corporation (NASDAQ:GAIN) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 36,982 shares of the investment management company’s stock, valued at approximately $572,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Van ECK Associates Corp boosted its position in Gladstone Investment by 2.2% during the 3rd quarter. Van ECK Associates Corp now owns 854,730 shares of the investment management company’s stock worth $11,812,000 after purchasing an additional 18,089 shares during the period. UBS Group AG raised its position in Gladstone Investment by 47.1% in the fourth quarter. UBS Group AG now owns 713,016 shares of the investment management company’s stock valued at $9,961,000 after purchasing an additional 228,168 shares during the period. PFG Advisors raised its position in Gladstone Investment by 206.0% in the fourth quarter. PFG Advisors now owns 305,248 shares of the investment management company’s stock valued at $4,264,000 after purchasing an additional 205,504 shares during the period. Legal & General Group Plc lifted its stake in shares of Gladstone Investment by 23.0% during the fourth quarter. Legal & General Group Plc now owns 273,752 shares of the investment management company’s stock worth $3,833,000 after purchasing an additional 51,205 shares in the last quarter. Finally, Outfitters Financial LLC lifted its stake in shares of Gladstone Investment by 1.2% during the fourth quarter. Outfitters Financial LLC now owns 204,345 shares of the investment management company’s stock worth $2,855,000 after purchasing an additional 2,450 shares in the last quarter. Institutional investors and hedge funds own 11.85% of the company’s stock.

Analyst Ratings Changes

GAIN has been the subject of a number of recent research reports. Weiss Ratings upgraded Gladstone Investment from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday. B. Riley Financial raised Gladstone Investment from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $14.50 to $16.50 in a research report on Thursday, May 14th. Wall Street Zen cut Gladstone Investment from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Oppenheimer lifted their price objective on shares of Gladstone Investment from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $16.75.

Gladstone Investment Stock Performance

Shares of NASDAQ GAIN opened at $16.85 on Wednesday. Gladstone Investment Corporation has a 1 year low of $13.11 and a 1 year high of $17.14. The firm has a market cap of $670.97 million, a price-to-earnings ratio of 3.59 and a beta of 0.77. The stock’s 50-day simple moving average is $15.78 and its 200-day simple moving average is $15.09.

Gladstone Investment (NASDAQ:GAIN) last released its quarterly earnings results on Tuesday, May 12th. The investment management company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.02). The business had revenue of $25.19 million during the quarter, compared to analyst estimates of $25.80 million. Gladstone Investment had a return on equity of 6.05% and a net margin of 186.47%. As a group, research analysts predict that Gladstone Investment Corporation will post 0.91 EPS for the current year.

Gladstone Investment Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st will be issued a dividend of $0.08 per share. The ex-dividend date is Monday, September 21st. This represents a c) annualized dividend and a yield of 5.7%. Gladstone Investment’s payout ratio is currently 20.47%.

About Gladstone Investment

Gladstone Investment (NASDAQ: GAIN) is a publicly traded business development company (BDC) that focuses on providing debt and equity financing to U.S. middle-market companies. As an externally managed closed-end fund, Gladstone Investment seeks to generate current income and capital appreciation for its shareholders by originating senior secured debt, subordinated debt and equity investments. The firm typically targets established businesses with revenues between $10 million and $150 million, across a range of industry sectors including business services, health care, industrials and specialty manufacturing.

The company’s investment strategy centers on deploying capital through first-lien and second-lien term loans, mezzanine debt and equity co-investments, often including warrants or other equity kickers.