DAVENPORT & Co LLC Has $1.93 Million Position in Gladstone Investment Corporation $GAIN

Key Points

• DAVENPORT & Co LLC has reduced its stake in Gladstone Investment Corporation (NASDAQ: GAIN) by 12.5%, owning 135,262 shares valued at approximately $1.93 million after selling 19,277 shares in the 2nd quarter.
• Gladstone Investment recently reported earnings of $0.24 per share, slightly exceeding analysts' expectations, with revenue of $23.54 million for the quarter.
• The current consensus rating for Gladstone Investment is "Hold" with a target price of $13.50, according to recent research reports by analysts.

DAVENPORT & Co LLC reduced its stake in shares of Gladstone Investment Corporation (NASDAQ:GAIN - Free Report) by 12.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,262 shares of the investment management company's stock after selling 19,277 shares during the quarter. DAVENPORT & Co LLC owned 0.37% of Gladstone Investment worth $1,930,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Kingstone Capital Partners Texas LLC acquired a new position in Gladstone Investment during the second quarter worth $23,814,000. Melia Wealth LLC increased its stake in shares of Gladstone Investment by 4.2% in the first quarter. Melia Wealth LLC now owns 1,088,798 shares of the investment management company's stock valued at $14,546,000 after buying an additional 44,377 shares in the last quarter. Blair William & Co. IL increased its stake in shares of Gladstone Investment by 4.1% in the first quarter. Blair William & Co. IL now owns 168,436 shares of the investment management company's stock valued at $2,250,000 after buying an additional 6,691 shares in the last quarter. Cassaday & Co Wealth Management LLC increased its stake in shares of Gladstone Investment by 4.2% in the first quarter. Cassaday & Co Wealth Management LLC now owns 112,500 shares of the investment management company's stock valued at $1,503,000 after buying an additional 4,500 shares in the last quarter. Finally, Legacy Capital Wealth Partners LLC increased its stake in shares of Gladstone Investment by 11.8% in the first quarter. Legacy Capital Wealth Partners LLC now owns 106,088 shares of the investment management company's stock valued at $1,417,000 after buying an additional 11,232 shares in the last quarter. 11.85% of the stock is currently owned by institutional investors and hedge funds.

Gladstone Investment Stock Down 1.2%

Shares of GAIN stock opened at $13.45 on Friday. The stock has a 50-day moving average price of $14.03 and a 200 day moving average price of $13.98. The firm has a market cap of $514.06 million, a price-to-earnings ratio of 6.20 and a beta of 0.93. Gladstone Investment Corporation has a 12 month low of $11.42 and a 12 month high of $15.34.

Gladstone Investment (NASDAQ:GAIN - Get Free Report) last issued its earnings results 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. Gladstone Investment had a return on equity of 7.33% and a net margin of 83.78%.The firm had revenue of $23.54 million for the quarter, compared to analysts' expectations of $23.87 million. Sell-side analysts predict that Gladstone Investment Corporation will post 0.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GAIN has been the subject of a number of research reports. B. Riley upgraded Gladstone Investment to a "hold" rating in a research note on Monday, June 16th. Weiss Ratings restated a "buy (b-)" rating on shares of Gladstone Investment in a research note on Wednesday. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Gladstone Investment has a consensus rating of "Hold" and a consensus target price of $13.50.

Gladstone Investment 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.

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