Gladstone Investment Corporation (NASDAQ:GAIN - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $16.59 and last traded at $16.70, with a volume of 129239 shares changing hands. The stock had previously closed at $16.28.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on GAIN. B. Riley Financial reissued a "neutral" rating on shares of Gladstone Investment in a research report on Monday, February 9th. Wall Street Zen raised shares of Gladstone Investment from a "sell" rating to a "hold" rating in a research report on Saturday, February 7th. Zacks Research raised shares of Gladstone Investment from a "strong sell" rating to a "hold" rating in a research report on Friday, March 6th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Gladstone Investment in a research report on Friday, March 27th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Gladstone Investment has a consensus rating of "Hold".
Read Our Latest Research Report on GAIN
Gladstone Investment Stock Performance
The stock's 50-day moving average price is $14.41 and its two-hundred day moving average price is $14.07. The stock has a market capitalization of $654.64 million, a PE ratio of 5.29 and a beta of 0.78.
Gladstone Investment (NASDAQ:GAIN - Get Free Report) last released its earnings results on Tuesday, February 3rd. The investment management company reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates of $0.24 by ($0.03). The business had revenue of $25.06 million during the quarter, compared to analysts' expectations of $25.83 million. Gladstone Investment had a return on equity of 6.77% and a net margin of 118.55%. On average, analysts predict that Gladstone Investment Corporation will post 0.9 earnings per share for the current fiscal year.
Gladstone Investment Announces Dividend
The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd will be given a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. Gladstone Investment's dividend payout ratio is currently 30.87%.
Hedge Funds Weigh In On Gladstone Investment
Hedge funds have recently bought and sold shares of the company. Ameriflex Group Inc. bought a new position in Gladstone Investment in the 3rd quarter worth about $585,000. PFG Advisors boosted its stake in Gladstone Investment by 206.0% in the 4th quarter. PFG Advisors now owns 305,248 shares of the investment management company's stock worth $4,264,000 after purchasing an additional 205,504 shares in the last quarter. TrueMark Investments LLC bought a new position in Gladstone Investment in the 4th quarter worth about $582,000. Melia Wealth LLC boosted its stake in Gladstone Investment by 5.7% in the 3rd quarter. Melia Wealth LLC now owns 1,197,594 shares of the investment management company's stock worth $16,551,000 after purchasing an additional 64,564 shares in the last quarter. Finally, Register Financial Advisors LLC bought a new position in Gladstone Investment in the 4th quarter worth about $133,000. Institutional investors own 11.85% of the company's stock.
Gladstone Investment Company Profile
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Get Free Report)
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.
Further Reading
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