Gladstone Investment (NASDAQ:GAIN) Sets New 52-Week High – Should You Buy?

Gladstone Investment Corporation (NASDAQ:GAIN) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $16.06 and last traded at $16.0250, with a volume of 16550 shares trading hands. The stock had previously closed at $15.89.

Wall Street Analyst Weigh In

Several research firms have weighed in on GAIN. Zacks Research upgraded Gladstone Investment from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. B. Riley Financial restated a “neutral” rating on shares of Gladstone Investment in a report on Monday, February 9th. Weiss Ratings restated a “buy (b-)” rating on shares of Gladstone Investment in a report on Friday, March 27th. Finally, Wall Street Zen upgraded Gladstone Investment from a “sell” rating to a “hold” rating in a 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. According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Gladstone Investment Stock Performance

The stock has a market cap of $637.92 million, a PE ratio of 5.15 and a beta of 0.78. The stock has a fifty day moving average price of $14.23 and a 200 day moving average price of $14.00.

Gladstone Investment (NASDAQ:GAIN) last announced its earnings results on Tuesday, February 3rd. The investment management company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.03). The company had revenue of $25.06 million during the quarter, compared to analysts’ expectations of $25.83 million. Gladstone Investment had a return on equity of 6.77% and a net margin of 118.55%. As a group, equities analysts anticipate that Gladstone Investment Corporation will post 0.9 earnings per share for the current fiscal year.

Gladstone Investment Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd will be issued a $0.08 dividend. The ex-dividend date is Tuesday, June 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 6.0%. Gladstone Investment’s payout ratio is 30.87%.

Hedge Funds Weigh In On Gladstone Investment

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Melia Wealth LLC boosted its holdings in shares of Gladstone Investment by 5.7% in the 3rd quarter. Melia Wealth LLC now owns 1,197,594 shares of the investment management company’s stock worth $16,551,000 after purchasing an additional 64,564 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Gladstone Investment by 2.2% in the 3rd quarter. Van ECK Associates Corp now owns 854,730 shares of the investment management company’s stock worth $11,812,000 after purchasing an additional 18,089 shares during the period. UBS Group AG boosted its holdings in shares of Gladstone Investment by 47.1% in the 4th quarter. UBS Group AG now owns 713,016 shares of the investment management company’s stock worth $9,961,000 after purchasing an additional 228,168 shares during the period. PFG Advisors boosted its holdings in shares of Gladstone Investment by 206.0% in the 4th quarter. PFG Advisors now owns 305,248 shares of the investment management company’s stock worth $4,264,000 after purchasing an additional 205,504 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of 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 worth $3,833,000 after purchasing an additional 51,205 shares during the period. Hedge funds and other institutional investors 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.