Van ECK Associates Corp Boosts Stock Holdings in Gladstone Investment Corporation $GAIN

Key Points

• Van ECK Associates increased its Gladstone Investment position by 35.8% during the second quarter, holding 804,098 shares worth approximately $12.4 million. Institutional investors collectively own 11.85% of GAIN.
• Gladstone Investment reported quarterly EPS of $0.26, exceeding the $0.22 consensus estimate, while revenue reached $28.36 million versus expectations of $25.75 million.
• The company declared a monthly dividend of $0.08 per share, representing an annualized yield of about 5.8%. Analysts maintain a consensus “Buy” rating with a $16.75 price target.

Van ECK Associates Corp lifted its position in Gladstone Investment Corporation (NASDAQ:GAIN - Free Report) by 35.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 804,098 shares of the investment management company's stock after acquiring an additional 212,170 shares during the quarter. Van ECK Associates Corp owned approximately 2.02% of Gladstone Investment worth $12,431,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GAIN. Kestra Advisory Services LLC bought a new position in shares of Gladstone Investment during the fourth quarter valued at about $26,000. International Assets Investment Management LLC bought a new stake in Gladstone Investment in the 4th quarter worth about $31,000. JPMorgan Chase & Co. grew its position in Gladstone Investment by 960.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,304 shares of the investment management company's stock worth $76,000 after purchasing an additional 4,804 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Gladstone Investment in the 2nd quarter valued at about $105,000. Finally, Bank of America Corp DE increased its stake in Gladstone Investment by 272.1% in the 3rd quarter. Bank of America Corp DE now owns 8,946 shares of the investment management company's stock valued at $124,000 after buying an additional 6,542 shares during the last quarter. Hedge funds and other institutional investors own 11.85% of the company's stock.

Gladstone Investment Stock Up 0.8%

GAIN opened at $16.56 on Tuesday. Gladstone Investment Corporation has a twelve month low of $13.11 and a twelve month high of $17.14. The company's 50-day moving average price is $16.18 and its two-hundred day moving average price is $15.43. The stock has a market cap of $659.42 million, a price-to-earnings ratio of 3.96 and a beta of 0.77.

Gladstone Investment (NASDAQ:GAIN - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The investment management company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.04. Gladstone Investment had a net margin of 158.95% and a return on equity of 5.90%. The company had revenue of $28.36 million during the quarter, compared to analyst estimates of $25.75 million. As a group, sell-side analysts anticipate that Gladstone Investment Corporation will post 1 earnings per share for the current year.

Gladstone Investment Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st will be paid a $0.08 dividend. The ex-dividend date is Monday, September 21st. This represents a c) annualized dividend and a dividend yield of 5.8%. Gladstone Investment's payout ratio is presently 22.97%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on GAIN shares. B. Riley Financial upgraded Gladstone Investment from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $14.50 to $16.50 in a research note on Thursday, May 14th. Wall Street Zen raised Gladstone Investment from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Oppenheimer lifted their price target on Gladstone Investment from $15.00 to $17.00 and gave the stock an "outperform" rating in a report on Thursday, May 14th. Weiss Ratings cut Gladstone Investment from a "buy (b+)" rating to a "buy (b)" rating in a research report on Monday, August 17th. Finally, Zacks Research upgraded Gladstone Investment from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to MarketBeat.com, Gladstone Investment presently has a consensus rating of "Buy" and a consensus price target of $16.75.

Gladstone Investment 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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