Gladstone Investment (NASDAQ:GAIN) Releases Earnings Results, Meets Expectations

Gladstone Investment (NASDAQ:GAIN) posted its quarterly earnings results on Tuesday. The investment management company reported $0.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.24, Zacks reports. Gladstone Investment had a return on equity of 7.33% and a net margin of 83.78%.The business had revenue of $25.28 million during the quarter, compared to analyst estimates of $24.58 million.

Gladstone Investment Trading Up 0.4%

NASDAQ GAIN traded up $0.06 on Thursday, reaching $13.91. The company’s stock had a trading volume of 46,472 shares, compared to its average volume of 144,472. The firm has a market cap of $531.63 million, a PE ratio of 6.41 and a beta of 0.91. Gladstone Investment has a 52 week low of $11.42 and a 52 week high of $15.34. The business has a 50-day moving average price of $13.94 and a 200 day moving average price of $14.09.

Gladstone Investment Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd will be given a $0.08 dividend. This represents a c) annualized dividend and a yield of 6.9%. The ex-dividend date is Monday, December 22nd. Gladstone Investment’s dividend payout ratio (DPR) is currently 44.24%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Gladstone Investment in a report on Wednesday, October 8th. Zacks Research upgraded shares of Gladstone Investment from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $13.50.

Institutional Investors Weigh In On Gladstone Investment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CANADA LIFE ASSURANCE Co raised its stake in Gladstone Investment by 6.1% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 37,238 shares of the investment management company’s stock worth $531,000 after purchasing an additional 2,136 shares in the last quarter. Raymond James Financial Inc. grew its position in Gladstone Investment by 2.0% during the second quarter. Raymond James Financial Inc. now owns 40,857 shares of the investment management company’s stock valued at $583,000 after buying an additional 814 shares during the period. Marshall Wace LLP purchased a new stake in shares of Gladstone Investment during the 2nd quarter valued at approximately $428,000. Invesco Ltd. purchased a new stake in Gladstone Investment in the second quarter valued at approximately $735,000. Finally, Royal Bank of Canada raised its stake in shares of Gladstone Investment by 6.8% during the first quarter. Royal Bank of Canada now owns 75,638 shares of the investment management company’s stock worth $1,010,000 after acquiring an additional 4,826 shares in the last quarter. 11.85% of the stock is currently owned by institutional investors and hedge funds.

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.