Gladstone Investment (NASDAQ:GAIN) Announces Quarterly Earnings Results

Gladstone Investment (NASDAQ:GAIN) announced its earnings results on Tuesday. The investment management company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.02), Zacks reports. Gladstone Investment had a net margin of 118.55% and a return on equity of 6.77%.

Gladstone Investment Stock Up 2.6%

Shares of Gladstone Investment stock traded up $0.43 during trading on Tuesday, reaching $16.92. The company’s stock had a trading volume of 495,569 shares, compared to its average volume of 298,811. The company has a market cap of $673.75 million, a price-to-earnings ratio of 5.44 and a beta of 0.81. Gladstone Investment has a 1-year low of $13.11 and a 1-year high of $17.14. The company has a 50-day simple moving average of $14.89 and a two-hundred day simple moving average of $14.24.

Gladstone Investment Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd will be given a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 5.7%. Gladstone Investment’s dividend payout ratio (DPR) is presently 30.87%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GAIN. B. Riley Financial reaffirmed a “neutral” rating on shares of Gladstone Investment in a research report on Monday, February 9th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Gladstone Investment in a research report on Friday, March 27th. Zacks Research raised Gladstone Investment from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Finally, Wall Street Zen raised Gladstone Investment from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Gladstone Investment has a consensus rating of “Hold”.

Institutional Trading of Gladstone Investment

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its position in Gladstone Investment by 11.3% during the 4th quarter. Wells Fargo & Company MN now owns 14,777 shares of the investment management company’s stock worth $206,000 after acquiring an additional 1,500 shares during the period. Jane Street Group LLC acquired a new stake in Gladstone Investment during the 4th quarter worth about $196,000. Verition Fund Management LLC acquired a new stake in Gladstone Investment during the 3rd quarter worth about $153,000. State of Wyoming raised its stake in shares of Gladstone Investment by 204.3% during the 2nd quarter. State of Wyoming now owns 12,033 shares of the investment management company’s stock valued at $172,000 after buying an additional 8,079 shares during the last quarter. Finally, Focus Partners Wealth purchased a new position in shares of Gladstone Investment during the 1st quarter valued at about $261,000. Institutional investors and hedge funds own 11.85% of the company’s stock.

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.