Gladstone Investment (NASDAQ:GAIN) CFO Acquires $24,300.00 in Stock

Gladstone Investment Corporation (NASDAQ:GAIN) CFO Taylor Ritchie purchased 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was purchased at an average price of $16.20 per share, with a total value of $24,300.00. Following the completion of the purchase, the chief financial officer directly owned 4,353 shares of the company’s stock, valued at approximately $70,518.60. This represents a 52.58% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Gladstone Investment Stock Up 0.1%

Shares of Gladstone Investment stock opened at $16.36 on Friday. The business has a 50-day moving average price of $15.99 and a 200 day moving average price of $15.31. Gladstone Investment Corporation has a fifty-two week low of $13.11 and a fifty-two week high of $17.14. The firm has a market cap of $651.49 million, a P/E ratio of 3.91 and a beta of 0.77.

Gladstone Investment (NASDAQ:GAIN) last released its earnings results on Thursday, August 6th. The investment management company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. The company had revenue of $28.36 million for the quarter, compared to the consensus estimate of $25.75 million. Gladstone Investment had a return on equity of 5.90% and a net margin of 158.95%. As a group, equities research analysts anticipate that Gladstone Investment Corporation will post 1 earnings per share for the current year.

Gladstone Investment Announces Dividend

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

Institutional Investors Weigh In On Gladstone Investment

Several large investors have recently added to or reduced their stakes in the stock. Cetera Investment Advisers lifted its stake in Gladstone Investment by 2.3% in the first quarter. Cetera Investment Advisers now owns 31,653 shares of the investment management company’s stock valued at $449,000 after buying an additional 717 shares during the last quarter. Raymond James Financial Inc. grew its position in shares of Gladstone Investment by 2.0% during the second quarter. Raymond James Financial Inc. now owns 40,857 shares of the investment management company’s stock worth $583,000 after acquiring an additional 814 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of Gladstone Investment by 5.6% during the fourth quarter. NewEdge Advisors LLC now owns 20,460 shares of the investment management company’s stock worth $286,000 after acquiring an additional 1,084 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Gladstone Investment by 11.3% during the fourth 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 last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Gladstone Investment in the 4th quarter worth about $26,000. 11.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.