Van ECK Associates Corp Acquires 212,170 Shares of Gladstone Investment Corporation $GAIN

Van ECK Associates Corp raised its holdings in Gladstone Investment Corporation (NASDAQ:GAIN) by 35.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 804,098 shares of the investment management company’s stock after purchasing an additional 212,170 shares during the period. Van ECK Associates Corp’s holdings in Gladstone Investment were worth $12,431,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of GAIN. UBS Group AG lifted its stake in shares of Gladstone Investment by 47.1% during the 4th quarter. UBS Group AG now owns 713,016 shares of the investment management company’s stock valued at $9,961,000 after buying an additional 228,168 shares in the last quarter. Legal & General Group Plc grew its stake in Gladstone Investment by 23.0% in the 4th quarter. Legal & General Group Plc now owns 273,752 shares of the investment management company’s stock valued at $3,833,000 after buying an additional 51,205 shares in the last quarter. Cassaday & Co Wealth Management LLC raised its holdings in Gladstone Investment by 3.1% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 132,000 shares of the investment management company’s stock valued at $1,844,000 after acquiring an additional 4,000 shares during the period. Osaic Holdings Inc. raised its holdings in Gladstone Investment by 395.5% during the 4th quarter. Osaic Holdings Inc. now owns 88,410 shares of the investment management company’s stock valued at $1,235,000 after acquiring an additional 70,566 shares during the period. Finally, Royal Bank of Canada lifted its position 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. Institutional investors own 11.85% of the company’s stock.

Gladstone Investment Price Performance

GAIN opened at $16.56 on Tuesday. The company has a fifty day moving average price of $16.18 and a 200-day moving average price of $15.43. The firm has a market capitalization of $659.42 million, a P/E ratio of 3.96 and a beta of 0.77. Gladstone Investment Corporation has a one year low of $13.11 and a one year high of $17.14.

Gladstone Investment (NASDAQ:GAIN) last released 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 for the quarter, compared to analysts’ expectations of $25.75 million. On average, analysts expect that Gladstone Investment Corporation will post 1 earnings per share for the current year.

Gladstone Investment Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st will be issued a $0.08 dividend. The ex-dividend date of this dividend is Monday, September 21st. This represents a c) annualized dividend and a dividend yield of 5.8%. Gladstone Investment’s dividend payout ratio (DPR) is presently 22.97%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GAIN. Zacks Research raised Gladstone Investment from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 12th. Wall Street Zen upgraded Gladstone Investment from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Oppenheimer increased 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. B. Riley Financial upgraded Gladstone Investment from a “neutral” rating to a “buy” rating and raised their target price for the stock from $14.50 to $16.50 in a research note on Thursday, May 14th. Finally, Weiss Ratings lowered Gladstone Investment from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $16.75.

Gladstone Investment 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.