Cassaday & Co Wealth Management LLC Cuts Stock Position in Gladstone Investment Corporation $GAIN

Cassaday & Co Wealth Management LLC lessened its stake in shares of Gladstone Investment Corporation (NASDAQ:GAIN) by 40.2% in the first quarter, Holdings Channel reports. The institutional investor owned 79,000 shares of the investment management company’s stock after selling 53,000 shares during the period. Cassaday & Co Wealth Management LLC’s holdings in Gladstone Investment were worth $1,123,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Royal Bank of Canada grew its stake in shares of Gladstone Investment by 6.8% in the first quarter. Royal Bank of Canada now owns 75,638 shares of the investment management company’s stock worth $1,010,000 after acquiring an additional 4,826 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Gladstone Investment by 6.2% in the 1st quarter. NewEdge Advisors LLC now owns 19,626 shares of the investment management company’s stock worth $262,000 after purchasing an additional 1,150 shares during the last quarter. Jane Street Group LLC bought a new position in Gladstone Investment in the 1st quarter worth about $302,000. Focus Partners Wealth bought a new position in Gladstone Investment in the 1st quarter worth about $261,000. Finally, JPMorgan Chase & Co. boosted its stake in Gladstone Investment by 960.8% in the 2nd 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. Hedge funds and other institutional investors own 11.85% of the company’s stock.

Analyst Ratings Changes

GAIN has been the subject of a number of analyst reports. Wall Street Zen lowered shares of Gladstone Investment from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. B. Riley Financial upgraded shares of Gladstone Investment from a “neutral” rating to a “buy” rating and upped their target price for the stock from $14.50 to $16.50 in a research note on Thursday, May 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of Gladstone Investment in a report on Wednesday, July 15th. Finally, Oppenheimer raised their price target on shares of Gladstone Investment from $15.00 to $17.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Gladstone Investment presently has an average rating of “Moderate Buy” and a consensus price target of $16.75.

Gladstone Investment Trading Down 0.8%

Shares of GAIN opened at $16.41 on Tuesday. The firm has a fifty day simple moving average of $15.76 and a two-hundred day simple moving average of $14.91. The firm has a market cap of $653.45 million, a PE ratio of 3.50 and a beta of 0.78. Gladstone Investment Corporation has a 1-year low of $13.11 and a 1-year high of $17.14.

Gladstone Investment (NASDAQ:GAIN) last released its quarterly earnings results on Tuesday, May 12th. The investment management company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.02). Gladstone Investment had a return on equity of 6.05% and a net margin of 186.47%.The firm had revenue of $25.19 million during the quarter, compared to analysts’ expectations of $25.80 million. As a group, research analysts forecast that Gladstone Investment Corporation will post 0.91 EPS for the current fiscal year.

Gladstone Investment Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st will be issued a $0.08 dividend. The ex-dividend date of this dividend is Monday, September 21st. This represents a c) dividend on an annualized basis and a yield of 5.9%. Gladstone Investment’s dividend payout ratio is currently 20.47%.

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.