Gladstone Investment (NASDAQ:GAIN) CFO Taylor Ritchie Acquires 1,500 Shares

Gladstone Investment Corporation (NASDAQ:GAIN) CFO Taylor Ritchie acquired 1,500 shares of Gladstone Investment stock in a transaction on Tuesday, August 18th. The stock was purchased at an average cost of $16.20 per share, for a total transaction of $24,300.00. Following the purchase, the chief financial officer owned 4,353 shares in the company, valued at approximately $70,518.60. The trade was a 52.58% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Gladstone Investment Trading Up 0.6%

Shares of NASDAQ:GAIN opened at $16.27 on Thursday. The company has a market cap of $647.87 million, a price-to-earnings ratio of 3.89 and a beta of 0.77. The company has a 50-day moving average price of $15.95 and a 200 day moving average price of $15.29. Gladstone Investment Corporation has a 12 month low of $13.11 and a 12 month high of $17.14.

Gladstone Investment (NASDAQ:GAIN) last announced its quarterly earnings data on Thursday, August 6th. The investment management company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $25.75 million. As a group, equities analysts forecast that Gladstone Investment Corporation will post 1 EPS for the current year.

Gladstone Investment Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, September 21st. This represents a c) dividend on an annualized basis and a dividend yield of 5.9%. Gladstone Investment’s dividend payout ratio (DPR) is 22.97%.

Hedge Funds Weigh In On Gladstone Investment

Large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its stake in Gladstone Investment by 6.8% in the first quarter. Royal Bank of Canada now owns 75,638 shares of the investment management company’s stock valued at $1,010,000 after acquiring an additional 4,826 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of Gladstone Investment by 6.2% in the 1st quarter. NewEdge Advisors LLC now owns 19,626 shares of the investment management company’s stock valued at $262,000 after purchasing an additional 1,150 shares during the last quarter. Jane Street Group LLC acquired a new stake in Gladstone Investment in the 1st quarter worth approximately $302,000. Focus Partners Wealth purchased a new stake in Gladstone Investment during the 1st quarter worth approximately $261,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Gladstone Investment by 960.8% in the second quarter. JPMorgan Chase & Co. now owns 5,304 shares of the investment management company’s stock worth $76,000 after buying an additional 4,804 shares during the last quarter. 11.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GAIN. Oppenheimer increased their price objective on Gladstone Investment from $15.00 to $17.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. B. Riley Financial upgraded Gladstone Investment from a “neutral” rating to a “buy” rating and raised their price target for the company from $14.50 to $16.50 in a research note on Thursday, May 14th. Weiss Ratings lowered shares of Gladstone Investment from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday. Wall Street Zen raised shares of Gladstone Investment from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Zacks Research upgraded shares of Gladstone Investment from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $16.75.

Gladstone Investment Company Profile

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.