Gladstone Investment (NASDAQ:GAIN) Announces Quarterly Earnings Results, Hits Expectations

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

Gladstone Investment Stock Up 0.4%

Shares of GAIN traded up $0.06 during mid-day trading on Wednesday, hitting $13.85. The company had a trading volume of 116,455 shares, compared to its average volume of 144,911. The business’s 50-day simple moving average is $13.94 and its 200-day simple moving average is $14.09. Gladstone Investment has a 1-year low of $11.42 and a 1-year high of $15.34. The stock has a market cap of $529.33 million, a PE ratio of 6.38 and a beta of 0.91.

Gladstone Investment Dividend Announcement

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

Institutional Investors Weigh In On Gladstone Investment

Hedge funds have recently modified their holdings of the stock. Royal Bank of Canada boosted its position 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 during the last quarter. Invesco Ltd. acquired a new position in Gladstone Investment during the second quarter valued at approximately $735,000. Raymond James Financial Inc. lifted 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 in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Gladstone Investment by 6.1% during the second quarter. CANADA LIFE ASSURANCE Co now owns 37,238 shares of the investment management company’s stock valued at $531,000 after buying an additional 2,136 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in Gladstone Investment during the second quarter valued at approximately $428,000. 11.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.