Gladstone Investment Corporation (NASDAQ:GAIN) is Melia Wealth LLC's 7th Largest Position

Key Points

• Melia Wealth LLC increased its stake in Gladstone Investment Corporation by 4.2%, now holding approximately 2.96% of the company, valued at $14.55 million.
• Gladstone Investment declared a $0.08 dividend with a yield of 6.81%, which will be distributed on July 31st to investors of record by July 22nd.
• The company reported earnings of $0.26 per share, beating the expected $0.23, along with a revenue of $27.55 million for the most recent quarter.

Melia Wealth LLC grew its stake in shares of Gladstone Investment Corporation (NASDAQ:GAIN - Free Report) by 4.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,088,798 shares of the investment management company's stock after buying an additional 44,377 shares during the period. Gladstone Investment accounts for about 7.5% of Melia Wealth LLC's investment portfolio, making the stock its 7th largest position. Melia Wealth LLC owned about 2.96% of Gladstone Investment worth $14,546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Invesco Ltd. bought a new stake in Gladstone Investment in the fourth quarter worth $1,393,000. Ameriflex Group Inc. bought a new position in Gladstone Investment during the fourth quarter valued at $699,000. Raymond James Financial Inc. bought a new position in Gladstone Investment during the fourth quarter valued at $651,000. Millennium Management LLC bought a new position in Gladstone Investment during the fourth quarter valued at $411,000. Finally, LPL Financial LLC increased its position in Gladstone Investment by 17.8% during the fourth quarter. LPL Financial LLC now owns 190,065 shares of the investment management company's stock valued at $2,518,000 after acquiring an additional 28,660 shares during the last quarter. Institutional investors own 11.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GAIN. B. Riley upgraded shares of Gladstone Investment to a "hold" rating in a research report on Monday, June 16th. Citigroup cut shares of Gladstone Investment to a "neutral" rating in a research report on Wednesday, May 14th. Finally, LADENBURG THALM/SH SH reiterated a "neutral" rating on shares of Gladstone Investment in a research report on Wednesday, May 14th.

Gladstone Investment Trading Down 0.1%

Shares of GAIN traded down $0.02 during trading hours on Thursday, reaching $13.95. 104,013 shares of the company traded hands, compared to its average volume of 140,304. The firm has a market cap of $513.92 million, a price-to-earnings ratio of 7.84 and a beta of 0.87. Gladstone Investment Corporation has a 12-month low of $11.42 and a 12-month high of $15.34. The stock's fifty day moving average price is $14.26 and its 200 day moving average price is $13.78.

Gladstone Investment (NASDAQ:GAIN - Get Free Report) last issued its earnings results on Tuesday, May 13th. The investment management company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.03. The firm had revenue of $27.55 million during the quarter, compared to analyst estimates of $24.96 million. Gladstone Investment had a net margin of 69.74% and a return on equity of 7.31%. On average, research analysts forecast that Gladstone Investment Corporation will post 0.96 earnings per share for the current year.

Gladstone Investment Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Thursday, July 31st. Investors of record on Tuesday, July 22nd will be paid a $0.08 dividend. This represents a yield of 6.81%. The ex-dividend date is Monday, July 21st. Gladstone Investment's dividend payout ratio (DPR) is presently 53.93%.

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.