Gladstone Investment (NASDAQ:GAIN) Announces Earnings Results, Meets Expectations

Gladstone Investment (NASDAQ:GAIN) issued its earnings results on Tuesday. The investment management company reported $0.24 EPS for the quarter, meeting analysts’ consensus estimates of $0.24, Zacks reports. Gladstone Investment had a return on equity of 7.33% and a net margin of 83.78%.

Gladstone Investment Stock Down 0.2%

Shares of GAIN stock traded down $0.03 during trading hours on Tuesday, hitting $13.79. 104,093 shares of the company’s stock were exchanged, compared to its average volume of 145,096. The firm has a market cap of $527.04 million, a P/E ratio of 6.35 and a beta of 0.93. The firm has a 50 day moving average of $13.94 and a two-hundred day moving average of $14.09. Gladstone Investment has a fifty-two week low of $11.42 and a fifty-two week high of $15.34.

Gladstone Investment Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd will be paid a dividend of $0.08 per share. This represents a c) annualized dividend and a dividend yield of 7.0%. The ex-dividend date of this dividend is Monday, December 22nd. Gladstone Investment’s dividend payout ratio is presently 44.24%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in GAIN. JPMorgan Chase & Co. raised its stake in shares of Gladstone Investment by 960.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,304 shares of the investment management company’s stock worth $76,000 after buying an additional 4,804 shares during the period. Quantbot Technologies LP purchased a new stake in Gladstone Investment in the 2nd quarter valued at $105,000. State of Wyoming grew its holdings in Gladstone Investment by 204.3% in the 2nd quarter. State of Wyoming now owns 12,033 shares of the investment management company’s stock valued at $172,000 after buying an additional 8,079 shares in the last quarter. Focus Partners Wealth purchased a new stake in Gladstone Investment in the 1st quarter valued at $261,000. Finally, NewEdge Advisors LLC grew its holdings in Gladstone Investment by 6.2% in the 1st quarter. NewEdge Advisors LLC now owns 19,626 shares of the investment management company’s stock valued at $262,000 after buying an additional 1,150 shares in the last quarter. 11.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GAIN has been the subject of a number of analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Gladstone Investment in a report on Wednesday, October 8th. Zacks Research raised Gladstone Investment from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Gladstone Investment currently has an average rating of “Moderate Buy” and an average price target of $13.50.

About Gladstone Investment

Gladstone Investment Corporation is business development company, 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.