Gladstone Investment (NASDAQ:GAIN) Reaches New 1-Year High - Still a Buy?

Gladstone Investment Co. (NASDAQ:GAIN - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $15.09 and last traded at $14.95, with a volume of 554 shares trading hands. The stock had previously closed at $14.93.

Analysts Set New Price Targets

GAIN has been the topic of a number of research reports. Citigroup downgraded shares of Gladstone Investment to a "neutral" rating in a report on Wednesday, May 14th. LADENBURG THALM/SH SH restated a "neutral" rating on shares of Gladstone Investment in a report on Wednesday, May 14th.

Gladstone Investment Stock Performance

The business's fifty day moving average price is $13.79 and its two-hundred day moving average price is $13.55. The stock has a market capitalization of $554.40 million, a P/E ratio of 7.84 and a beta of 0.86.

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

Gladstone Investment Dividend Announcement

The firm also recently announced a dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 22nd will be issued a $0.08 dividend. The ex-dividend date is Wednesday, May 21st. This represents a dividend yield of 6.55%. Gladstone Investment's dividend payout ratio (DPR) is presently 53.93%.

Hedge Funds Weigh In On Gladstone Investment

Hedge funds have recently added to or reduced their stakes in the company. D. E. Shaw & Co. Inc. bought a new position in Gladstone Investment during the 4th quarter valued at about $234,000. LPL Financial LLC grew its holdings in Gladstone Investment by 17.8% during the 4th quarter. LPL Financial LLC now owns 190,065 shares of the investment management company's stock valued at $2,518,000 after purchasing an additional 28,660 shares during the last quarter. Raymond James Financial Inc. bought a new position in Gladstone Investment during the 4th quarter valued at about $651,000. Invesco Ltd. bought a new position in Gladstone Investment during the 4th quarter valued at about $1,393,000. Finally, Commonwealth Equity Services LLC grew its holdings in Gladstone Investment by 4.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 34,065 shares of the investment management company's stock valued at $451,000 after purchasing an additional 1,365 shares during the last quarter. 11.85% of the stock is currently owned by institutional investors.

About Gladstone Investment

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.