Gladstone Investment Corporation $GAIN is Melia Wealth LLC's 6th Largest Position

Key Points

• Melia Wealth LLC trimmed its stake in Gladstone Investment by 5.9% in the fourth quarter, but the position remains significant at 1,127,296 shares and represents 7.3% of its portfolio.
• Gladstone Investment missed quarterly earnings estimates, reporting $0.20 per share versus the $0.22 consensus, while revenue also came in below expectations at $25.19 million.
• The company announced a monthly dividend of $0.08 per share, implying a 6.0% annualized yield, and analysts currently hold a Moderate Buy view with an average price target of $16.75.

Melia Wealth LLC reduced its holdings in shares of Gladstone Investment Corporation (NASDAQ:GAIN - Free Report) by 5.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,127,296 shares of the investment management company's stock after selling 70,298 shares during the period. Gladstone Investment comprises 7.3% of Melia Wealth LLC's portfolio, making the stock its 6th largest holding. Melia Wealth LLC owned 2.83% of Gladstone Investment worth $15,748,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Van ECK Associates Corp increased its holdings in Gladstone Investment by 2.2% during the third quarter. Van ECK Associates Corp now owns 854,730 shares of the investment management company's stock valued at $11,812,000 after buying an additional 18,089 shares during the last quarter. UBS Group AG increased its holdings in Gladstone Investment by 47.1% during the fourth quarter. UBS Group AG now owns 713,016 shares of the investment management company's stock valued at $9,961,000 after buying an additional 228,168 shares during the last quarter. PFG Advisors increased its holdings in Gladstone Investment by 206.0% during the fourth quarter. PFG Advisors now owns 305,248 shares of the investment management company's stock valued at $4,264,000 after buying an additional 205,504 shares during the last quarter. Legal & General Group Plc increased its holdings in 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 valued at $3,833,000 after buying an additional 51,205 shares during the last quarter. Finally, Outfitters Financial LLC increased its holdings in Gladstone Investment by 1.2% during the fourth quarter. Outfitters Financial LLC now owns 204,345 shares of the investment management company's stock valued at $2,855,000 after buying an additional 2,450 shares during the last quarter. 11.85% of the stock is owned by hedge funds and other institutional investors.

Gladstone Investment Price Performance

GAIN opened at $15.96 on Thursday. The firm has a market cap of $635.56 million, a P/E ratio of 3.40 and a beta of 0.81. Gladstone Investment Corporation has a 1-year low of $13.11 and a 1-year high of $17.14. The company has a 50 day simple moving average of $15.47 and a two-hundred day simple moving average of $14.44.

Gladstone Investment (NASDAQ:GAIN - Get Free Report) last posted its quarterly earnings results on Tuesday, May 12th. The investment management company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.22 by ($0.02). The firm had revenue of $25.19 million during the quarter, compared to the consensus estimate of $25.80 million. Gladstone Investment had a return on equity of 6.05% and a net margin of 186.47%. Equities analysts anticipate that Gladstone Investment Corporation will post 0.91 earnings per share for the current year.

Gladstone Investment Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd will be given a dividend of $0.08 per share. The ex-dividend date is Tuesday, June 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 6.0%. Gladstone Investment's dividend payout ratio is currently 20.47%.

Analyst Ratings Changes

A number of equities analysts have weighed in on GAIN shares. Wall Street Zen lowered shares of Gladstone Investment from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Gladstone Investment in a research report on Friday, March 27th. B. Riley Financial upgraded shares of Gladstone Investment from a "neutral" rating to a "buy" rating and upped their price target for the stock from $14.50 to $16.50 in a research report on Thursday, May 14th. Zacks Research upgraded shares of Gladstone Investment from a "strong sell" rating to a "hold" rating in a research report on Friday, March 6th. Finally, Oppenheimer upped their price target on shares of Gladstone Investment from $15.00 to $17.00 and gave the stock an "outperform" rating in a research report on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $16.75.

Gladstone Investment Company Profile

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.

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