Gladstone Investment (NASDAQ:GAIN) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Gladstone Investment (NASDAQ:GAIN) announced its quarterly earnings results on Tuesday. The investment management company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.02), Zacks reports. Gladstone Investment had a net margin of 118.55% and a return on equity of 6.77%.

Gladstone Investment Stock Up 2.6%

NASDAQ:GAIN traded up $0.43 during trading hours on Tuesday, reaching $16.92. 495,569 shares of the stock were exchanged, compared to its average volume of 298,811. The business has a 50-day moving average of $14.89 and a two-hundred day moving average of $14.24. Gladstone Investment has a twelve month low of $13.11 and a twelve month high of $17.14. The company has a market capitalization of $673.75 million, a price-to-earnings ratio of 5.44 and a beta of 0.81.

Gladstone Investment Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd will be paid a dividend of $0.08 per share. This represents a c) dividend on an annualized basis and a yield of 5.7%. The ex-dividend date is Tuesday, June 23rd. Gladstone Investment’s dividend payout ratio is 30.87%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on GAIN shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Gladstone Investment in a report on Friday, March 27th. Zacks Research upgraded Gladstone Investment from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. B. Riley Financial reiterated a “neutral” rating on shares of Gladstone Investment in a report on Monday, February 9th. Finally, Wall Street Zen upgraded Gladstone Investment from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC acquired a new position in Gladstone Investment during the fourth quarter worth $26,000. JPMorgan Chase & Co. lifted its stake in Gladstone Investment by 960.8% during the second quarter. JPMorgan Chase & Co. now owns 5,304 shares of the investment management company’s stock worth $76,000 after purchasing an additional 4,804 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Gladstone Investment during the second quarter worth $105,000. Bank of America Corp DE increased its position in shares of Gladstone Investment by 272.1% during the third quarter. Bank of America Corp DE now owns 8,946 shares of the investment management company’s stock worth $124,000 after acquiring an additional 6,542 shares during the period. Finally, Abel Hall LLC purchased a new stake in shares of Gladstone Investment during the fourth quarter worth $140,000. 11.85% of the stock is currently owned by institutional investors and hedge funds.

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.