Kingstone Capital Partners Texas LLC Takes Position in Gladstone Investment Corporation $GAIN

Key Points

• Kingstone Capital Partners Texas LLC acquired 1,759,421 shares of Gladstone Investment Corporation, valued at approximately $23.8 million, representing about 4.78% of the company.
• Gladstone Investment recently announced a monthly dividend of $0.08, with an annualized yield of 6.8% and a dividend payout ratio of 44.24%.
• The company reported $0.24 earnings per share for the last quarter, exceeding analysts' expectations of $0.23, contributing to a consensus rating of "Hold" with a price target of $13.50.

Kingstone Capital Partners Texas LLC bought a new position in Gladstone Investment Corporation (NASDAQ:GAIN - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 1,759,421 shares of the investment management company's stock, valued at approximately $23,814,000. Kingstone Capital Partners Texas LLC owned 4.78% of Gladstone Investment as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the company. Cornerstone Wealth Management LLC grew its holdings in shares of Gladstone Investment by 15.6% during the first quarter. Cornerstone Wealth Management LLC now owns 11,828 shares of the investment management company's stock valued at $158,000 after buying an additional 1,600 shares during the last quarter. Northern Trust Corp boosted its holdings in Gladstone Investment by 22.2% during the fourth quarter. Northern Trust Corp now owns 27,200 shares of the investment management company's stock worth $360,000 after buying an additional 4,945 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new position in shares of Gladstone Investment in the fourth quarter valued at approximately $234,000. Millennium Management LLC acquired a new position in Gladstone Investment during the fourth quarter worth approximately $411,000. Finally, Farther Finance Advisors LLC acquired a new stake in shares of Gladstone Investment in the first quarter worth $71,000. Institutional investors own 11.85% of the company's stock.

Gladstone Investment Trading Up 0.5%

Shares of NASDAQ:GAIN traded up $0.07 during mid-day trading on Tuesday, hitting $13.99. 107,847 shares of the company traded hands, compared to its average volume of 142,837. Gladstone Investment Corporation has a 12-month low of $11.42 and a 12-month high of $15.34. The stock has a 50-day moving average price of $14.11 and a two-hundred day moving average price of $13.95. The stock has a market cap of $534.70 million, a P/E ratio of 6.46 and a beta of 0.94.

Gladstone Investment (NASDAQ:GAIN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The investment management company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. The firm had revenue of $23.54 million during the quarter, compared to analysts' expectations of $23.87 million. Gladstone Investment had a return on equity of 7.33% and a net margin of 83.78%. As a group, analysts expect that Gladstone Investment Corporation will post 0.96 earnings per share for the current year.

Gladstone Investment Announces Dividend

The company also recently announced a monthly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, July 21st were given a $0.08 dividend. This represents a c) annualized dividend and a dividend yield of 6.9%. The ex-dividend date of this dividend was Monday, July 21st. Gladstone Investment's dividend payout ratio is presently 44.24%.

Wall Street Analysts Forecast Growth

Separately, B. Riley upgraded shares of Gladstone Investment to a "hold" rating in a research report on Monday, June 16th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $13.50.

Gladstone Investment Company Profile

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.