Insider Buying: Gladstone Investment (NASDAQ:GAIN) CFO Acquires $24,300.00 in Stock

Key Points

• Gladstone Investment CFO Taylor Ritchie purchased 1,500 shares at $16.20 each, investing $24,300 and increasing their holdings by 52.58% to 4,353 shares. The trade was made under a pre-arranged Rule 10b5-1 plan.
• Gladstone Investment recently reported quarterly EPS of $0.26, beating estimates of $0.22, while revenue of $28.36 million exceeded the $25.75 million consensus forecast.
• The company declared a monthly dividend of $0.08 per share, representing an annualized yield of about 5.8%. Analysts maintain a consensus “Buy” rating with a $16.75 price target.

Gladstone Investment Corporation (NASDAQ:GAIN - Get Free Report) CFO Taylor Ritchie purchased 1,500 shares of the company's stock in a transaction on Tuesday, August 18th. The stock was acquired at an average price of $16.20 per share, for a total transaction of $24,300.00. Following the completion of the transaction, the chief financial officer owned 4,353 shares of the company's stock, valued at $70,518.60. This represents a 52.58% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Gladstone Investment Stock Performance

Shares of NASDAQ:GAIN traded up $0.26 during trading hours on Wednesday, hitting $16.44. 62,174 shares of the company's stock traded hands, compared to its average volume of 283,232. Gladstone Investment Corporation has a 52 week low of $13.11 and a 52 week high of $17.14. The company's fifty day simple moving average is $15.94 and its two-hundred day simple moving average is $15.27. The company has a market cap of $654.64 million, a price-to-earnings ratio of 3.93 and a beta of 0.77.

Gladstone Investment (NASDAQ:GAIN - Get Free Report) last released its earnings results on Thursday, August 6th. The investment management company reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.04. The business had revenue of $28.36 million for the quarter, compared to the consensus estimate of $25.75 million. Gladstone Investment had a net margin of 158.95% and a return on equity of 5.90%. On average, analysts anticipate that Gladstone Investment Corporation will post 1 EPS for the current fiscal year.

Gladstone Investment Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st will be given a dividend of $0.08 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date is Monday, September 21st. Gladstone Investment's dividend payout ratio is 22.97%.

Hedge Funds Weigh In On Gladstone Investment

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Confluence Investment Management LLC acquired a new position in Gladstone Investment during the second quarter worth $572,000. Cetera Investment Advisers boosted its position in Gladstone Investment by 2.3% during the first quarter. Cetera Investment Advisers now owns 31,653 shares of the investment management company's stock worth $449,000 after purchasing an additional 717 shares during the period. Greenwood Gearhart LLC bought a new position in shares of Gladstone Investment in the first quarter valued at approximately $254,000. Independent Financial Group LLC bought a new position in shares of Gladstone Investment in the first quarter valued at approximately $355,000. Finally, NewEdge Advisors LLC lifted its stake in shares of Gladstone Investment by 5.6% in the fourth quarter. NewEdge Advisors LLC now owns 20,460 shares of the investment management company's stock worth $286,000 after buying an additional 1,084 shares during the last quarter. Institutional investors own 11.85% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Zacks Research raised Gladstone Investment from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 12th. B. Riley Financial raised shares of Gladstone Investment from a "neutral" rating to a "buy" rating and upped their price objective for the company from $14.50 to $16.50 in a research note on Thursday, May 14th. Wall Street Zen raised shares of Gladstone Investment from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Oppenheimer boosted their price target on shares of Gladstone Investment from $15.00 to $17.00 and gave the company an "outperform" rating in a report on Thursday, May 14th. Finally, Weiss Ratings lowered Gladstone Investment from a "buy (b+)" rating to a "buy (b)" rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $16.75.

About Gladstone Investment

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.

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