Susquehanna International Group LLP purchased a new stake in shares of Gladstone Investment Corporation (NASDAQ:GAIN) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 31,196 shares of the investment management company’s stock, valued at approximately $293,000.
Other hedge funds have also recently made changes to their positions in the company. KCG Holdings Inc. bought a new position in Gladstone Investment Corporation during the 1st quarter valued at about $407,000. Crow Point Partners LLC bought a new position in Gladstone Investment Corporation during the 2nd quarter valued at about $140,000. Wells Fargo & Company MN lifted its holdings in Gladstone Investment Corporation by 7.3% during the 1st quarter. Wells Fargo & Company MN now owns 39,983 shares of the investment management company’s stock valued at $363,000 after purchasing an additional 2,731 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Gladstone Investment Corporation by 21.3% during the 2nd quarter. Van ECK Associates Corp now owns 280,855 shares of the investment management company’s stock valued at $2,640,000 after purchasing an additional 49,373 shares during the last quarter. Finally, Oxford Asset Management bought a new position in Gladstone Investment Corporation during the 1st quarter valued at about $303,000. 17.97% of the stock is owned by hedge funds and other institutional investors.
Shares of Gladstone Investment Corporation (NASDAQ:GAIN) opened at 9.85 on Monday. Gladstone Investment Corporation has a 52-week low of $7.16 and a 52-week high of $9.90. The firm has a 50-day moving average of $9.38 and a 200 day moving average of $9.37.
Gladstone Investment Corporation (NASDAQ:GAIN) last issued its quarterly earnings data on Tuesday, August 1st. The investment management company reported $0.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.17. The business had revenue of $13.62 million during the quarter, compared to analyst estimates of $13.01 million. Gladstone Investment Corporation had a net margin of 55.52% and a return on equity of 6.95%. On average, equities research analysts forecast that Gladstone Investment Corporation will post $0.70 earnings per share for the current year.
The firm also recently disclosed a special dividend, which will be paid on Friday, December 15th. Investors of record on Tuesday, December 5th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Monday, December 4th. This represents a yield of 7.93%. Gladstone Investment Corporation’s dividend payout ratio (DPR) is presently 82.80%.
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GAIN has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Gladstone Investment Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. BidaskClub downgraded shares of Gladstone Investment Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Jefferies Group LLC reissued a “hold” rating and set a $9.00 price target on shares of Gladstone Investment Corporation in a report on Wednesday, August 16th. Finally, ValuEngine raised shares of Gladstone Investment Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Gladstone Investment Corporation has a consensus rating of “Hold” and a consensus target price of $9.50.
Gladstone Investment Corporation 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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