Advisors Asset Management Inc. Sells 12,499 Shares of Gladstone Investment Corporation (GAIN)
Advisors Asset Management Inc. reduced its stake in Gladstone Investment Corporation (NASDAQ:GAIN) by 1.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 782,668 shares of the investment management company’s stock after selling 12,499 shares during the period. Advisors Asset Management Inc.’s holdings in Gladstone Investment Corporation were worth $7,357,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of Montreal Can acquired a new position in Gladstone Investment Corporation during the second quarter valued at about $3,422,000. Goldman Sachs Group Inc. raised its position in Gladstone Investment Corporation by 10.7% in the first quarter. Goldman Sachs Group Inc. now owns 39,927 shares of the investment management company’s stock valued at $362,000 after buying an additional 3,867 shares during the period. KCG Holdings Inc. acquired a new position in Gladstone Investment Corporation during the first quarter valued at about $407,000. UBS Group AG raised its position in Gladstone Investment Corporation by 21.9% in the first quarter. UBS Group AG now owns 746,477 shares of the investment management company’s stock valued at $6,770,000 after buying an additional 134,165 shares during the period. Finally, Mackenzie Financial Corp raised its position in Gladstone Investment Corporation by 75.2% in the first quarter. Mackenzie Financial Corp now owns 28,025 shares of the investment management company’s stock valued at $254,000 after buying an additional 12,025 shares during the period. Hedge funds and other institutional investors own 20.22% of the company’s stock.
Gladstone Investment Corporation (GAIN) opened at 9.54 on Wednesday. Gladstone Investment Corporation has a 52-week low of $7.16 and a 52-week high of $9.84. The firm has a 50-day moving average of $9.50 and a 200 day moving average of $9.26.
Gladstone Investment Corporation (NASDAQ:GAIN) last announced its quarterly earnings data on Tuesday, August 1st. The investment management company reported $0.17 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.17. Gladstone Investment Corporation had a net margin of 55.52% and a return on equity of 6.95%. The business had revenue of $13.62 million for the quarter, compared to analyst estimates of $13.01 million. Equities research analysts forecast that Gladstone Investment Corporation will post $0.70 earnings per share for the current fiscal year.
The firm also recently disclosed a monthly dividend, which will be paid on Friday, September 29th. Investors of record on Wednesday, September 20th will be issued a $0.064 dividend. The ex-dividend date is Tuesday, September 19th. This represents a $0.77 annualized dividend and a yield of 8.05%. Gladstone Investment Corporation’s dividend payout ratio is currently 82.80%.
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Several research firms have issued reports on GAIN. Zacks Investment Research lowered shares of Gladstone Investment Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. BidaskClub lowered shares of Gladstone Investment Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Jefferies Group LLC restated a “hold” rating and issued a $9.00 price target on shares of Gladstone Investment Corporation in a research report on Friday, July 14th. Finally, Wedbush began coverage on shares of Gladstone Investment Corporation in a research report on Wednesday, June 14th. They issued an “outperform” rating and a $10.00 price target on the stock.
In other Gladstone Investment Corporation news, CEO David Gladstone acquired 24,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The shares were acquired at an average cost of $9.25 per share, for a total transaction of $222,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 625,973 shares of the company’s stock, valued at approximately $5,790,250.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.40% of the company’s stock.
About Gladstone Investment Corporation
Gladstone Investment Corporation is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objectives are to achieve and grow current income by investing in debt securities of established businesses that it believes will provide stable earnings and cash flow to pay expenses, make principal and interest payments on its outstanding indebtedness and make distributions to stockholders that grow over time, and provide its stockholders with long-term capital appreciation in the value of its assets by investing in equity securities, generally in combination with the aforementioned debt securities, of businesses that it believes can grow over time to permit it to sell its equity investments for capital gains.
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