Taylor Ritchie Buys 1,500 Shares of Gladstone Investment (NASDAQ:GAIN) Stock

Gladstone Investment Corporation (NASDAQ:GAIN) CFO Taylor Ritchie bought 1,500 shares of Gladstone Investment stock in a transaction dated Tuesday, August 18th. The shares were bought 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 directly owned 4,353 shares of the company’s stock, valued at $70,518.60. This represents a 52.58% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Gladstone Investment Price Performance

Shares of Gladstone Investment stock opened at $16.35 on Friday. The firm has a market cap of $651.06 million, a P/E ratio of 3.91 and a beta of 0.77. The firm has a 50 day simple moving average of $15.97 and a 200 day simple moving average of $15.30. Gladstone Investment Corporation has a fifty-two week low of $13.11 and a fifty-two week high of $17.14.

Gladstone Investment (NASDAQ:GAIN) last posted its quarterly earnings data on Thursday, August 6th. The investment management company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.04. The firm had revenue of $28.36 million for the quarter, compared to the consensus estimate of $25.75 million. Gladstone Investment had a return on equity of 5.90% and a net margin of 158.95%. On average, sell-side analysts expect that Gladstone Investment Corporation will post 1 EPS for the current year.

Gladstone Investment Dividend Announcement

The company also recently announced 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. The ex-dividend date is Monday, September 21st. This represents a c) dividend on an annualized basis and a dividend yield of 5.9%. Gladstone Investment’s payout ratio is presently 22.97%.

Hedge Funds Weigh In On Gladstone Investment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its holdings in shares of Gladstone Investment by 6.8% in 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. NewEdge Advisors LLC lifted its holdings in shares of Gladstone Investment by 6.2% during the 1st quarter. NewEdge Advisors LLC now owns 19,626 shares of the investment management company’s stock valued at $262,000 after purchasing an additional 1,150 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Gladstone Investment in the 1st quarter valued at approximately $302,000. Focus Partners Wealth acquired a new position in shares of Gladstone Investment in the 1st quarter valued at approximately $261,000. Finally, JPMorgan Chase & Co. increased its stake in Gladstone Investment by 960.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,304 shares of the investment management company’s stock worth $76,000 after purchasing an additional 4,804 shares in the last quarter. Institutional investors own 11.85% of the company’s stock.

Wall Street Analyst Weigh In

GAIN has been the subject of a number of research reports. B. Riley Financial upgraded Gladstone Investment from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $14.50 to $16.50 in a research report on Thursday, May 14th. Oppenheimer boosted their price objective on Gladstone Investment from $15.00 to $17.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. Wall Street Zen upgraded shares of Gladstone Investment from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Zacks Research upgraded shares of Gladstone Investment from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 12th. Finally, Weiss Ratings downgraded shares of Gladstone Investment from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $16.75.

Gladstone Investment Company Profile

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.