Ladenburg Thalmann Financial Services Inc. Has $3.40 Million Position in Gladstone Investment Co. (GAIN)
Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of Gladstone Investment Co. (NASDAQ:GAIN) by 4.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 358,542 shares of the investment management company’s stock after buying an additional 13,932 shares during the quarter. Ladenburg Thalmann Financial Services Inc. owned 1.10% of Gladstone Investment worth $3,403,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in the stock. Royal Bank of Canada raised its holdings in shares of Gladstone Investment by 0.4% during the 2nd quarter. Royal Bank of Canada now owns 24,110 shares of the investment management company’s stock valued at $227,000 after buying an additional 106 shares during the period. Parametric Portfolio Associates LLC raised its holdings in shares of Gladstone Investment by 0.8% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 18,727 shares of the investment management company’s stock valued at $176,000 after buying an additional 148 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Gladstone Investment by 2.6% during the 2nd quarter. Wells Fargo & Company MN now owns 41,031 shares of the investment management company’s stock valued at $386,000 after buying an additional 1,048 shares during the period. Tudor Investment Corp ET AL increased its holdings in Gladstone Investment by 10.7% during the 2nd quarter. Tudor Investment Corp ET AL now owns 11,952 shares of the investment management company’s stock worth $112,000 after purchasing an additional 1,152 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Gladstone Investment by 10.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 39,927 shares of the investment management company’s stock worth $362,000 after purchasing an additional 3,867 shares during the last quarter. Institutional investors and hedge funds own 17.58% of the company’s stock.
In other news, Director Walter H. Wilkinson purchased 5,730 shares of the stock in a transaction dated Tuesday, November 28th. The stock was acquired at an average cost of $10.84 per share, for a total transaction of $62,113.20. Following the acquisition, the director now owns 14,416 shares of the company’s stock, valued at $156,269.44. The acquisition was disclosed in a filing with the SEC, which is available at this link. 2.40% of the stock is currently owned by insiders.
Gladstone Investment (NASDAQ:GAIN) last posted its quarterly earnings data on Wednesday, November 1st. The investment management company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.01. Gladstone Investment had a return on equity of 16.74% and a net margin of 103.57%. The company had revenue of $13.13 million for the quarter, compared to the consensus estimate of $12.22 million. analysts forecast that Gladstone Investment Co. will post 0.71 EPS for the current year.
The company also recently declared a special dividend, which will be paid on Friday, December 15th. Stockholders of record on Tuesday, December 5th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Monday, December 4th. This represents a dividend yield of 7.93%. Gladstone Investment’s dividend payout ratio (DPR) is 57.78%.
Several equities research analysts have issued reports on GAIN shares. Jefferies Group restated a “hold” rating and set a $9.00 price objective on shares of Gladstone Investment in a report on Wednesday, August 16th. ValuEngine downgraded Gladstone Investment from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. Zacks Investment Research upgraded Gladstone Investment from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Finally, Wedbush downgraded Gladstone Investment from an “outperform” rating to a “neutral” rating and lifted their price objective for the stock from $10.50 to $11.00 in a report on Monday, November 20th. Four research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $11.00.
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Gladstone Investment Profile
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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