Stratos Wealth Partners LTD. increased its position in Gladstone Investment Corporation (NASDAQ:GAIN) by 19.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 14,614 shares of the investment management company’s stock after buying an additional 2,382 shares during the period. Stratos Wealth Partners LTD.’s holdings in Gladstone Investment Corporation were worth $137,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in GAIN. Goldman Sachs Group Inc. boosted its stake in shares of Gladstone Investment Corporation by 10.7% in the first quarter. Goldman Sachs Group Inc. now owns 39,927 shares of the investment management company’s stock worth $362,000 after buying an additional 3,867 shares during the last quarter. KCG Holdings Inc. bought a new stake in shares of Gladstone Investment Corporation during the first quarter worth $407,000. UBS Group AG boosted its stake in shares of Gladstone Investment Corporation by 21.9% in the first quarter. UBS Group AG now owns 746,477 shares of the investment management company’s stock worth $6,770,000 after buying an additional 134,165 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of Gladstone Investment Corporation by 75.2% in the first quarter. Mackenzie Financial Corp now owns 28,025 shares of the investment management company’s stock worth $254,000 after buying an additional 12,025 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Gladstone Investment Corporation by 10.6% in the first quarter. Legal & General Group Plc now owns 71,843 shares of the investment management company’s stock worth $651,000 after buying an additional 6,884 shares during the last quarter. Institutional investors and hedge funds own 20.16% of the company’s stock.
Gladstone Investment Corporation (NASDAQ:GAIN) opened at 9.36 on Friday. The company has a 50-day moving average price of $9.49 and a 200-day moving average price of $9.24. Gladstone Investment Corporation has a one year low of $7.16 and a one year high of $9.84.
Gladstone Investment Corporation (NASDAQ:GAIN) last announced its quarterly earnings results on Tuesday, August 1st. The investment management company reported $0.17 EPS for the quarter, hitting analysts’ consensus estimates of $0.17. The firm had revenue of $13.62 million during the quarter, compared to analysts’ expectations of $13.01 million. Gladstone Investment Corporation had a net margin of 55.52% and a return on equity of 6.95%. On average, analysts anticipate that Gladstone Investment Corporation will post $0.70 EPS for the current year.
The firm also recently declared a monthly dividend, which will be paid on Friday, September 29th. Shareholders of record on Wednesday, September 20th will be paid a dividend of $0.064 per share. This represents a $0.77 dividend on an annualized basis and a yield of 8.21%. The ex-dividend date of this dividend is Tuesday, September 19th. Gladstone Investment Corporation’s dividend payout ratio is 82.80%.
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A number of analysts have recently weighed in on the company. Zacks Investment Research cut Gladstone Investment Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. BidaskClub cut Gladstone Investment Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Jefferies Group LLC reiterated a “hold” rating and set a $9.00 price target on shares of Gladstone Investment Corporation in a research report on Friday, July 14th. Finally, Wedbush assumed coverage on Gladstone Investment Corporation in a research report on Wednesday, June 14th. They set an “outperform” rating and a $10.00 price target on the stock.
In other Gladstone Investment Corporation news, CEO David Gladstone purchased 24,000 shares of the business’s stock in a transaction on Wednesday, June 14th. The stock was purchased at an average price of $9.25 per share, for a total transaction of $222,000.00. Following the completion of the purchase, the chief executive officer now directly owns 625,973 shares in the company, valued at $5,790,250.25. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.40% of the stock is owned by company insiders.
Gladstone Investment Corporation Company Profile
Gladstone Investment Corporation is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objectives are to achieve and grow current income by investing in debt securities of established businesses that it believes will provide stable earnings and cash flow to pay expenses, make principal and interest payments on its outstanding indebtedness and make distributions to stockholders that grow over time, and provide its stockholders with long-term capital appreciation in the value of its assets by investing in equity securities, generally in combination with the aforementioned debt securities, of businesses that it believes can grow over time to permit it to sell its equity investments for capital gains.
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