Gladstone Investment (NASDAQ:GAIN) Sets New 12-Month High - Here's What Happened

Shares of Gladstone Investment Co. (NASDAQ:GAIN - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $15.32 and last traded at $15.26, with a volume of 228777 shares changing hands. The stock had previously closed at $15.05.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GAIN shares. LADENBURG THALM/SH SH reissued a "neutral" rating on shares of Gladstone Investment in a research report on Wednesday, May 14th. Citigroup lowered Gladstone Investment to a "neutral" rating in a research report on Wednesday, May 14th.

Gladstone Investment Stock Down 1.3%

The company has a market cap of $512.40 million, a P/E ratio of 7.24 and a beta of 0.89. The company has a 50 day moving average price of $13.90 and a 200-day moving average price of $13.58.

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

Gladstone Investment Announces Dividend

The company also recently declared a dividend, which was paid on Friday, May 30th. Stockholders of record on Thursday, May 22nd were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a dividend yield of 6.55%. Gladstone Investment's dividend payout ratio is 53.93%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Kentucky Trust Co bought a new position in Gladstone Investment in the 4th quarter worth approximately $26,000. Northwestern Mutual Wealth Management Co. increased its position in Gladstone Investment by 37,400.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,000 shares of the investment management company's stock worth $40,000 after buying an additional 2,992 shares during the period. Farther Finance Advisors LLC bought a new position in Gladstone Investment in the 1st quarter worth approximately $71,000. State of Wyoming bought a new position in Gladstone Investment in the 4th quarter worth approximately $105,000. Finally, Geneos Wealth Management Inc. bought a new position in Gladstone Investment in the 1st quarter worth approximately $113,000. 11.85% of the stock is owned by institutional investors.

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.