Gladstone Investment (NASDAQ:GAIN) Shares Pass Above 200 Day Moving Average - Here's What Happened

Key Points

• Gladstone Investment shares crossed above their 200-day moving average, reaching $15.93 before closing at $15.84, compared with the $15.67 average.
• Analyst sentiment remains generally positive, with the stock carrying an average “Buy” rating and a consensus price target of $16.75, despite mixed recent rating changes.
• The company exceeded quarterly expectations with EPS of $0.26 versus $0.22 forecast and revenue of $28.36 million, while declaring a monthly $0.08 dividend representing a 6.1% annualized yield.

Shares of Gladstone Investment Corporation (NASDAQ:GAIN - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.67 and traded as high as $15.93. Gladstone Investment shares last traded at $15.84, with a volume of 115,012 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on GAIN shares. Zacks Research raised shares of Gladstone Investment from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 12th. Weiss Ratings cut Gladstone Investment from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, September 1st. Finally, Wall Street Zen lowered Gladstone Investment from a "hold" rating to a "sell" rating in a research note on Saturday, September 12th. One equities research 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 presently has an average rating of "Buy" and an average price target of $16.75.

Gladstone Investment Trading Down 0.1%

The firm's 50 day moving average is $16.33 and its two-hundred day moving average is $15.67. The firm has a market cap of $630.75 million, a P/E ratio of 3.79 and a beta of 0.77.

Gladstone Investment (NASDAQ:GAIN - Get Free Report) last released its quarterly 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. Gladstone Investment had a return on equity of 5.90% and a net margin of 158.95%.The company had revenue of $28.36 million for the quarter, compared to analyst estimates of $25.75 million. Analysts predict that Gladstone Investment Corporation will post 1 EPS for the current fiscal year.

Gladstone Investment Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st will be paid a $0.08 dividend. The ex-dividend date of this dividend is Monday, September 21st. This represents a c) annualized dividend and a dividend yield of 6.1%. Gladstone Investment's dividend payout ratio (DPR) is currently 22.97%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Van ECK Associates Corp lifted its position in shares of Gladstone Investment by 35.8% in the second quarter. Van ECK Associates Corp now owns 804,098 shares of the investment management company's stock worth $12,431,000 after purchasing an additional 212,170 shares in the last quarter. Confluence Investment Management LLC acquired a new stake in shares of Gladstone Investment in the second quarter valued at about $572,000. Cetera Investment Advisers raised its holdings 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 acquiring an additional 717 shares in the last quarter. Independent Financial Group LLC acquired a new position in Gladstone Investment during the first quarter valued at approximately $355,000. Finally, Greenwood Gearhart LLC bought a new position in Gladstone Investment in the first quarter valued at approximately $254,000. 11.85% of the stock is owned by institutional investors and hedge funds.

Gladstone Investment Company Profile

Gladstone Investment Corporation NASDAQ: GAIN is a business development company that provides financing and equity capital to established lower middle-market businesses in the United States. The company invests in companies across a range of industries and generally seeks businesses with stable operations, experienced management teams and opportunities for growth or operational improvement.

Gladstone Investment's activities include originating and investing in secured debt, subordinated debt and equity securities.

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