Gladstone Investment (NASDAQ:GAIN) Issues Quarterly Earnings Results

Key Points

• Gladstone Investment reported quarterly earnings of $0.24 per share, exceeding the consensus estimate of $0.23 by $0.01, with a return on equity of 7.31% and a net margin of 69.74%.
• The company announced a dividend of $0.08 per share, representing a dividend yield of 681.0%, with a payout ratio of 53.93%.
• Gladstone Investment's stock saw a decline of 0.8%, trading at $14.16, and has a market capitalization of $521.65 million.

Gladstone Investment (NASDAQ:GAIN - Get Free Report) announced its quarterly earnings data on Tuesday. The investment management company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.01, Zacks reports. Gladstone Investment had a return on equity of 7.31% and a net margin of 69.74%.

Gladstone Investment Stock Down 0.8%

Shares of GAIN traded down $0.11 on Tuesday, hitting $14.16. The company's stock had a trading volume of 134,737 shares, compared to its average volume of 138,932. The firm's fifty day moving average price is $14.11 and its 200-day moving average price is $13.83. Gladstone Investment has a fifty-two week low of $11.42 and a fifty-two week high of $15.34. The firm has a market capitalization of $521.65 million, a price-to-earnings ratio of 7.96 and a beta of 0.92.

Gladstone Investment Announces Dividend

The firm also recently disclosed a dividend, which was paid on Thursday, July 31st. Investors of record on Tuesday, July 22nd were given a $0.08 dividend. The ex-dividend date was Monday, July 21st. This represents a dividend yield of 681.0%. Gladstone Investment's payout ratio is currently 53.93%.

Hedge Funds Weigh In On Gladstone Investment

Several institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada grew its position in shares of Gladstone Investment by 6.8% in the 1st quarter. Royal Bank of Canada now owns 75,638 shares of the investment management company's stock valued at $1,010,000 after purchasing an additional 4,826 shares during the period. Jane Street Group LLC bought a new stake in Gladstone Investment in the 1st quarter valued at approximately $302,000. NewEdge Advisors LLC lifted its stake in Gladstone Investment by 6.2% in the 1st quarter. NewEdge Advisors LLC now owns 19,626 shares of the investment management company's stock valued at $262,000 after acquiring an additional 1,150 shares in the last quarter. Focus Partners Wealth bought a new stake in Gladstone Investment in the 1st quarter valued at approximately $261,000. Finally, JPMorgan Chase & Co. lifted its stake 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 valued at $76,000 after acquiring an additional 4,804 shares in the last quarter. 11.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. LADENBURG THALM/SH SH reissued a "neutral" rating on shares of Gladstone Investment in a report on Wednesday, May 14th. Citigroup cut Gladstone Investment to a "neutral" rating in a report on Wednesday, May 14th. Finally, B. Riley raised Gladstone Investment to a "hold" rating in a report on Monday, June 16th.

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.

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