Gladstone Investment (NASDAQ:GAIN) Shares Cross Above 200 Day Moving Average - Here's Why

Key Points

• Gladstone Investment's stock price has recently crossed above its two hundred day moving average, trading at $13.98, with a high of $14.15 during the session.
• The company reported a quarterly earnings per share (EPS) of $0.24, exceeding analysts’ expectations of $0.23, despite slightly lower revenue than anticipated.
• Gladstone Investment has announced a monthly dividend of $0.08 per share, resulting in an annualized dividend yield of 6.9%.

Gladstone Investment Corporation (NASDAQ:GAIN - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $13.93 and traded as high as $14.15. Gladstone Investment shares last traded at $13.98, with a volume of 253,234 shares trading hands.

Analyst Ratings Changes

Separately, B. Riley upgraded shares of Gladstone Investment to a "hold" rating in a research report on Monday, June 16th. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $13.50.

Gladstone Investment Price Performance

The company has a market capitalization of $538.52 million, a P/E ratio of 6.49 and a beta of 0.94. The stock's 50 day simple moving average is $14.11 and its two-hundred day simple moving average is $13.95.

Gladstone Investment (NASDAQ:GAIN - Get Free Report) last announced its earnings results on Tuesday, August 12th. The investment management company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. Gladstone Investment had a net margin of 83.78% and a return on equity of 7.33%. The company had revenue of $23.54 million during the quarter, compared to the consensus estimate of $23.87 million. As a group, equities research analysts expect that Gladstone Investment Corporation will post 0.96 earnings per share for the current year.

Gladstone Investment Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, July 21st were paid a dividend of $0.08 per share. This represents a c) annualized dividend and a dividend yield of 6.8%. The ex-dividend date of this dividend was Monday, July 21st. Gladstone Investment's dividend payout ratio is 44.24%.

Hedge Funds Weigh In On Gladstone Investment

Hedge funds have recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC boosted its holdings in Gladstone Investment by 15.6% in the first quarter. Cornerstone Wealth Management LLC now owns 11,828 shares of the investment management company's stock valued at $158,000 after acquiring an additional 1,600 shares during the last quarter. Northern Trust Corp raised its stake in shares of Gladstone Investment by 22.2% during the fourth quarter. Northern Trust Corp now owns 27,200 shares of the investment management company's stock worth $360,000 after buying an additional 4,945 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new stake in shares of Gladstone Investment during the fourth quarter worth approximately $234,000. Millennium Management LLC bought a new stake in shares of Gladstone Investment during the fourth quarter worth approximately $411,000. Finally, Farther Finance Advisors LLC bought a new stake in shares of Gladstone Investment during the first quarter worth approximately $71,000. Institutional investors own 11.85% of the company's stock.

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.