Gladstone Investment Co. (NASDAQ:GAIN)’s share price dropped 5.1% during mid-day trading on Monday . The stock traded as low as $13.89 and last traded at $14.09, approximately 661,941 shares traded hands during trading. An increase of 380% from the average daily volume of 137,824 shares. The stock had previously closed at $14.84.
GAIN has been the subject of a number of research reports. BidaskClub cut shares of Gladstone Investment from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Zacks Investment Research cut shares of Gladstone Investment from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th.
The stock has a market capitalization of $450.29 million, a P/E ratio of 17.82 and a beta of 0.86. The firm has a 50-day moving average price of $14.29 and a 200 day moving average price of $12.42.
Gladstone Investment (NASDAQ:GAIN) last released its earnings results on Monday, November 4th. The investment management company reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. The company had revenue of $16.64 million during the quarter, compared to the consensus estimate of $13.79 million. Gladstone Investment had a return on equity of 7.64% and a net margin of 55.29%. Analysts expect that Gladstone Investment Co. will post 0.88 EPS for the current year.
The firm also recently declared a dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Thursday, December 19th will be paid a dividend of $0.068 per share. The ex-dividend date of this dividend is Wednesday, December 18th. Gladstone Investment’s dividend payout ratio (DPR) is presently 106.49%.
Several institutional investors have recently made changes to their positions in GAIN. Virtus ETF Advisers LLC bought a new stake in Gladstone Investment in the second quarter worth $2,630,000. Bank of America Corp DE lifted its stake in shares of Gladstone Investment by 3,877.3% in the 2nd quarter. Bank of America Corp DE now owns 46,932 shares of the investment management company’s stock valued at $527,000 after acquiring an additional 45,752 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Gladstone Investment by 10.1% in the 2nd quarter. Van ECK Associates Corp now owns 307,817 shares of the investment management company’s stock valued at $3,457,000 after acquiring an additional 28,326 shares during the last quarter. Morgan Stanley boosted its holdings in Gladstone Investment by 25.9% during the 2nd quarter. Morgan Stanley now owns 119,627 shares of the investment management company’s stock valued at $1,343,000 after acquiring an additional 24,625 shares during the period. Finally, Aperio Group LLC boosted its holdings in Gladstone Investment by 136.5% during the 2nd quarter. Aperio Group LLC now owns 32,895 shares of the investment management company’s stock valued at $369,000 after acquiring an additional 18,988 shares during the period. 13.39% of the stock is owned by institutional investors.
About Gladstone Investment (NASDAQ:GAIN)
Gladstone Investment Corporation is a private equity fund specializing in lower middle market, acquisitions, mature stage, buyouts; recapitalizations; 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.
