Dynamic Technology Lab Private Ltd acquired a new position in shares of Gladstone Investment Co. (NASDAQ:GAIN) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 29,254 shares of the investment management company’s stock, valued at approximately $339,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Wedbush Securities Inc. increased its holdings in shares of Gladstone Investment by 24.0% during the 1st quarter. Wedbush Securities Inc. now owns 21,692 shares of the investment management company’s stock worth $252,000 after buying an additional 4,196 shares during the last quarter. Global Strategic Management Inc. purchased a new stake in Gladstone Investment during the 4th quarter worth $1,258,000. Bank of Montreal Can purchased a new stake in Gladstone Investment during the 1st quarter worth $244,000. Claybrook Capital LLC purchased a new stake in Gladstone Investment during the 4th quarter worth $26,000. Finally, Stratos Wealth Partners LTD. boosted its position in Gladstone Investment by 6.0% during the 4th quarter. Stratos Wealth Partners LTD. now owns 33,307 shares of the investment management company’s stock worth $310,000 after purchasing an additional 1,875 shares during the period. Institutional investors and hedge funds own 12.24% of the company’s stock.
Shares of Gladstone Investment stock opened at $11.70 on Friday. Gladstone Investment Co. has a twelve month low of $8.70 and a twelve month high of $12.70. The firm has a market cap of $384.02 million, a P/E ratio of 15.19 and a beta of 0.88.
The firm also recently declared a special dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, June 5th were given a dividend of $0.09 per share. This represents a yield of 6.64%. This is a boost from Gladstone Investment’s previous special dividend of $0.06. The ex-dividend date of this dividend was Tuesday, June 4th. Gladstone Investment’s dividend payout ratio is 106.49%.
A number of brokerages recently weighed in on GAIN. BidaskClub cut shares of Gladstone Investment from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 11th. LADENBURG THALM/SH SH cut shares of Gladstone Investment from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 15th. Finally, Zacks Investment Research cut shares of Gladstone Investment from a “buy” rating to a “hold” rating in a research report on Wednesday, April 10th.
About Gladstone Investment
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.
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