Gladstone Investment (NASDAQ:GAIN) Announces Earnings Results, Beats Estimates By $0.01 EPS

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 earnings results on Tuesday. The investment management company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.01, Zacks reports. The company had revenue of $23.54 million during the quarter, compared to the consensus estimate of $23.87 million. Gladstone Investment had a return on equity of 7.33% and a net margin of 83.78%.

Gladstone Investment Stock Down 0.9%

Shares of GAIN stock traded down $0.13 during mid-day trading on Friday, hitting $14.33. 61,486 shares of the company's stock were exchanged, compared to its average volume of 131,548. Gladstone Investment has a fifty-two week low of $11.42 and a fifty-two week high of $15.34. The stock has a market cap of $547.68 million, a price-to-earnings ratio of 6.60 and a beta of 0.92. The stock has a 50-day simple moving average of $14.11 and a two-hundred day simple moving average of $13.86.

Gladstone Investment Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Thursday, July 31st. Stockholders of record on Tuesday, July 22nd were issued a dividend of $0.08 per share. The ex-dividend date was Monday, July 21st. This represents a dividend yield of 681.0%. Gladstone Investment's dividend payout ratio (DPR) is 44.24%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. B. Riley upgraded Gladstone Investment to a "hold" rating in a report on Monday, June 16th. Citigroup lowered Gladstone Investment to a "neutral" rating in a report on Wednesday, May 14th. Finally, LADENBURG THALM/SH SH restated a "neutral" rating on shares of Gladstone Investment in a research report on Wednesday, May 14th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its position in shares of Gladstone Investment by 960.8% during the second quarter. JPMorgan Chase & Co. now owns 5,304 shares of the investment management company's stock worth $76,000 after buying an additional 4,804 shares during the period. Quantbot Technologies LP bought a new stake in shares of Gladstone Investment in the second quarter valued at about $105,000. Focus Partners Wealth bought a new position in Gladstone Investment during the first quarter worth about $261,000. NewEdge Advisors LLC increased its holdings in shares of Gladstone Investment by 6.2% in the first quarter. NewEdge Advisors LLC now owns 19,626 shares of the investment management company's stock valued at $262,000 after purchasing an additional 1,150 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in Gladstone Investment during the 1st quarter worth $302,000. 11.85% of the stock is owned by hedge funds and other 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.