Gladstone Investment (NASDAQ:GAIN) Issues Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Gladstone Investment (NASDAQ:GAIN) released its quarterly earnings results on Tuesday. The investment management company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.03), Zacks reports. The firm had revenue of $25.06 million during the quarter, compared to analyst estimates of $25.83 million. Gladstone Investment had a net margin of 94.99% and a return on equity of 7.12%.

Gladstone Investment Stock Performance

NASDAQ:GAIN traded up $0.37 during mid-day trading on Wednesday, hitting $14.11. The company had a trading volume of 249,257 shares, compared to its average volume of 182,798. Gladstone Investment has a fifty-two week low of $11.42 and a fifty-two week high of $15.34. The firm has a market cap of $559.26 million, a P/E ratio of 5.64 and a beta of 0.84. The business’s fifty day moving average is $13.91 and its two-hundred day moving average is $13.94.

Gladstone Investment Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd will be paid a $0.08 dividend. The ex-dividend date of this dividend is Monday, March 23rd. This represents a c) annualized dividend and a yield of 6.8%. Gladstone Investment’s dividend payout ratio is presently 38.40%.

Institutional Trading of Gladstone Investment

A number of institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its stake in Gladstone Investment by 960.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,304 shares of the investment management company’s stock worth $76,000 after acquiring an additional 4,804 shares during the last quarter. Quantbot Technologies LP bought a new stake in Gladstone Investment in the second quarter valued at approximately $105,000. Bank of America Corp DE raised its holdings in Gladstone Investment by 272.1% in the third quarter. Bank of America Corp DE now owns 8,946 shares of the investment management company’s stock worth $124,000 after purchasing an additional 6,542 shares during the period. Verition Fund Management LLC bought a new position in shares of Gladstone Investment during the third quarter worth $153,000. Finally, State of Wyoming boosted its position in shares of Gladstone Investment by 204.3% during the second quarter. State of Wyoming now owns 12,033 shares of the investment management company’s stock worth $172,000 after purchasing an additional 8,079 shares in the last quarter. 11.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GAIN has been the subject of a number of research analyst reports. Zacks Research cut shares of Gladstone Investment from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Wall Street Zen downgraded Gladstone Investment from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Gladstone Investment in a report on Monday, December 22nd. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Gladstone Investment presently has an average rating of “Hold”.

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.