Millennium Management LLC Takes $411,000 Position in Gladstone Investment Co. (NASDAQ:GAIN)

Millennium Management LLC bought a new stake in shares of Gladstone Investment Co. (NASDAQ:GAIN - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 31,017 shares of the investment management company's stock, valued at approximately $411,000. Millennium Management LLC owned about 0.08% of Gladstone Investment at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Kentucky Trust Co purchased a new stake in Gladstone Investment in the 4th quarter valued at $26,000. Van ECK Associates Corp boosted its position in shares of Gladstone Investment by 3.6% during the 4th quarter. Van ECK Associates Corp now owns 930,346 shares of the investment management company's stock valued at $12,327,000 after acquiring an additional 32,678 shares during the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in shares of Gladstone Investment during the 4th quarter valued at about $1,431,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Gladstone Investment in the fourth quarter valued at about $250,000. Finally, Raymond James Financial Inc. acquired a new stake in Gladstone Investment during the fourth quarter worth about $651,000. Institutional investors and hedge funds own 11.85% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. LADENBURG THALM/SH SH reaffirmed a "neutral" rating on shares of Gladstone Investment in a research note on Wednesday, May 14th. Citigroup lowered shares of Gladstone Investment to a "neutral" rating in a report on Wednesday, May 14th.

Gladstone Investment Price Performance

NASDAQ:GAIN remained flat at $13.98 during mid-day trading on Tuesday. 92,172 shares of the company traded hands, compared to its average volume of 140,550. Gladstone Investment Co. has a 52-week low of $11.42 and a 52-week high of $15.34. The firm's fifty day simple moving average is $13.91 and its 200-day simple moving average is $13.59. The company has a market capitalization of $514.98 million, a P/E ratio of 7.28 and a beta of 0.89.

Gladstone Investment (NASDAQ:GAIN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The investment management company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.03. Gladstone Investment had a net margin of 78.02% and a return on equity of 7.17%. The business had revenue of $27.55 million during the quarter, compared to the consensus estimate of $24.96 million. As a group, equities analysts anticipate that Gladstone Investment Co. will post 0.96 EPS for the current fiscal year.

Gladstone Investment Announces Dividend

The company also recently announced a dividend, which was paid on Friday, May 30th. Stockholders of record on Thursday, May 22nd were issued a $0.08 dividend. This represents a dividend yield of 6.55%. The ex-dividend date was Wednesday, May 21st. Gladstone Investment's payout ratio is currently 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.