Gladstone Investment (NASDAQ:GAIN) Stock Dropped to “Hold” by Zacks Research

Zacks Research cut shares of Gladstone Investment (NASDAQ:GAIN) from a strong-buy rating to a hold rating in a research report report published on Monday,Zacks reports.

GAIN has been the subject of a number of other research reports. Weiss Ratings downgraded shares of Gladstone Investment from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, September 1st. Wall Street Zen upgraded Gladstone Investment from a “sell” rating to a “hold” rating in a research note on Monday. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Gladstone Investment currently has an average rating of “Moderate Buy” and a consensus price target of $16.75.

Gladstone Investment Stock Performance

NASDAQ GAIN opened at $15.32 on Monday. Gladstone Investment has a one year low of $13.11 and a one year high of $17.14. The company has a market capitalization of $610.04 million, a price-to-earnings ratio of 3.67 and a beta of 0.76. The company’s 50-day simple moving average is $16.06 and its two-hundred day simple moving average is $15.85.

Gladstone Investment (NASDAQ:GAIN) last announced its quarterly earnings results on Thursday, August 6th. The investment management company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.04. Gladstone Investment had a net margin of 158.95% and a return on equity of 5.90%. The firm had revenue of $28.36 million during the quarter, compared to analysts’ expectations of $25.75 million. Equities analysts expect that Gladstone Investment will post 1.00 earnings per share for the current fiscal year.

Gladstone Investment Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, December 31st. Investors of record on Monday, December 21st will be paid a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a dividend yield of 6.3%. The ex-dividend date is Monday, December 21st. Gladstone Investment’s payout ratio is 22.97%.

Institutional Investors Weigh In On Gladstone Investment

A number of hedge funds and other institutional investors have recently bought and sold shares of GAIN. Integrated Wealth Concepts LLC purchased a new position in Gladstone Investment in the second quarter worth $123,000. Greenwood Gearhart LLC purchased a new stake in shares of Gladstone Investment during the 1st quarter valued at $254,000. Independent Financial Group LLC purchased a new stake in shares of Gladstone Investment during the 1st quarter valued at $355,000. Cetera Investment Advisers lifted its holdings in shares of Gladstone Investment by 2.3% during the 1st quarter. Cetera Investment Advisers now owns 31,653 shares of the investment management company’s stock valued at $449,000 after purchasing an additional 717 shares during the last quarter. Finally, Confluence Investment Management LLC purchased a new stake in shares of Gladstone Investment during the 2nd quarter valued at $572,000. Hedge funds and other institutional investors own 11.85% of the company’s stock.

About Gladstone Investment

Gladstone Investment Corporation (NASDAQ:GAIN) is an externally managed business development company that invests in established lower-middle-market businesses in the United States. The company seeks to provide capital to privately held companies that may have limited access to traditional financing.

Gladstone Investment primarily invests through secured and unsecured debt, subordinated debt and equity securities. Its investment activities support transactions such as management buyouts, recapitalizations, acquisitions and growth initiatives.