Gladstone Investment (NASDAQ:GAIN) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Gladstone Investment Corporation (NASDAQ:GAIN) shares crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $15.34 and traded as high as $15.61. Gladstone Investment shares last traded at $15.40, with a volume of 177,658 shares.

Analyst Upgrades and Downgrades

GAIN has been the subject of a number of recent research reports. Zacks Research lowered shares of Gladstone Investment from a “strong-buy” rating to a “hold” rating in a report on Monday, October 12th. Weiss Ratings downgraded shares of Gladstone Investment from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 23rd. Finally, Wall Street Zen upgraded shares of Gladstone Investment from a “sell” rating to a “hold” rating in a research report on Monday, October 12th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $16.75.

Gladstone Investment Trading Up 2.0%

The company has a 50-day moving average price of $15.61 and a two-hundred day moving average price of $15.34. The stock has a market cap of $613.23 million, a P/E ratio of 3.68 and a beta of 0.72.

Gladstone Investment (NASDAQ:GAIN) last posted its quarterly earnings data on Thursday, August 6th. The investment management company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. Gladstone Investment had a net margin of 158.95% and a return on equity of 5.90%. The business had revenue of $28.36 million for the quarter, compared to analysts’ expectations of $25.75 million. As a group, equities analysts forecast that Gladstone Investment Corporation will post 1.00 earnings per share for the current fiscal year.

Gladstone Investment Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Investors of record on Monday, December 21st will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, December 21st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.2%. Gladstone Investment’s payout ratio is currently 22.97%.

Institutional Trading of Gladstone Investment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC purchased a new position in shares of Gladstone Investment during the second quarter valued at approximately $123,000. Van ECK Associates Corp raised its holdings in shares of Gladstone Investment by 35.8% in the second quarter. Van ECK Associates Corp now owns 804,098 shares of the investment management company’s stock worth $12,431,000 after buying an additional 212,170 shares during the period. Confluence Investment Management LLC purchased a new stake in shares of Gladstone Investment in the second quarter worth approximately $572,000. Cetera Investment Advisers lifted its stake in shares of Gladstone Investment by 2.3% during the 1st quarter. Cetera Investment Advisers now owns 31,653 shares of the investment management company’s stock worth $449,000 after acquiring an additional 717 shares during the last quarter. Finally, Greenwood Gearhart LLC bought a new stake in shares of Gladstone Investment during the 1st quarter worth approximately $254,000. 11.85% of the stock is owned by hedge funds and other institutional investors.

About Gladstone Investment

Gladstone Investment Corporation (NASDAQ: GAIN) is a business development company that provides financing and makes equity investments in established lower middle-market companies. The company primarily supports businesses that require capital for acquisitions, recapitalizations, buyouts, growth initiatives and other corporate purposes.

Gladstone Investment typically invests through a combination of secured loans, subordinated or mezzanine debt and equity securities. Its portfolio companies operate across a range of industries, allowing the company to pursue diversification rather than concentrate exclusively on one sector.

Founded in 2005, Gladstone Investment generally focuses on companies based in the United States.