Gladstone Investment Corporation (NASDAQ:GAIN) Short Interest Update

Gladstone Investment Corporation (NASDAQ:GAIN) was the target of a large decrease in short interest in April. As of April 30th, there was short interest totaling 607,649 shares, a decrease of 51.1% from the April 15th total of 1,242,066 shares. Currently, 1.6% of the company’s stock are sold short. Based on an average daily volume of 418,033 shares, the days-to-cover ratio is currently 1.5 days.

Gladstone Investment Price Performance

GAIN opened at $16.41 on Monday. The firm has a market cap of $653.45 million, a price-to-earnings ratio of 3.50 and a beta of 0.81. Gladstone Investment has a fifty-two week low of $13.11 and a fifty-two week high of $17.14. The company’s 50-day moving average price is $15.10 and its 200 day moving average price is $14.31.

Gladstone Investment (NASDAQ:GAIN) last released its quarterly earnings data on Tuesday, May 12th. The investment management company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.02). The business had revenue of $25.19 million for the quarter, compared to analyst estimates of $25.80 million. Gladstone Investment had a return on equity of 6.05% and a net margin of 186.47%. Research analysts anticipate that Gladstone Investment will post 0.91 earnings per share for the current year.

Gladstone Investment Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd will be paid a dividend of $0.08 per share. The ex-dividend date is Tuesday, June 23rd. This represents a c) annualized dividend and a yield of 5.9%. Gladstone Investment’s dividend payout ratio is 20.47%.

Institutional Investors Weigh In On Gladstone Investment

Several institutional investors and hedge funds have recently bought and sold shares of the business. Cetera Investment Advisers grew its position in Gladstone Investment by 2.3% in the 1st quarter. Cetera Investment Advisers now owns 31,653 shares of the investment management company’s stock worth $449,000 after purchasing an additional 717 shares during the last quarter. Raymond James Financial Inc. grew its position in Gladstone Investment by 2.0% in the 2nd quarter. Raymond James Financial Inc. now owns 40,857 shares of the investment management company’s stock worth $583,000 after purchasing an additional 814 shares during the last quarter. NewEdge Advisors LLC grew its position in Gladstone Investment by 5.6% in the 4th quarter. NewEdge Advisors LLC now owns 20,460 shares of the investment management company’s stock worth $286,000 after purchasing an additional 1,084 shares during the last quarter. Wells Fargo & Company MN grew its position in Gladstone Investment by 11.3% in the 4th quarter. Wells Fargo & Company MN now owns 14,777 shares of the investment management company’s stock worth $206,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new position in shares of Gladstone Investment in the fourth quarter valued at approximately $26,000. Institutional investors and hedge funds own 11.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on GAIN shares. B. Riley Financial upgraded shares of Gladstone Investment from a “neutral” rating to a “buy” rating and upped their target price for the company from $14.50 to $16.50 in a research note on Thursday. Wall Street Zen lowered shares of Gladstone Investment from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings restated a “buy (b-)” rating on shares of Gladstone Investment in a research note on Friday, March 27th. Oppenheimer upped their target price on shares of Gladstone Investment from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Zacks Research upgraded shares of Gladstone Investment from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.75.

About Gladstone Investment

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.