Taylor Ritchie Buys 1,500 Shares of Gladstone Investment (NASDAQ:GAIN) Stock

Gladstone Investment Corporation (NASDAQ:GAIN) CFO Taylor Ritchie purchased 1,500 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was acquired at an average cost of $16.20 per share, for a total transaction of $24,300.00. Following the completion of the transaction, the chief financial officer owned 4,353 shares in the company, valued at approximately $70,518.60. This trade represents a 52.58% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Gladstone Investment Price Performance

Shares of Gladstone Investment stock traded up $0.26 during midday trading on Wednesday, hitting $16.44. The company had a trading volume of 62,174 shares, compared to its average volume of 283,232. Gladstone Investment Corporation has a 1-year low of $13.11 and a 1-year high of $17.14. The business’s 50 day simple moving average is $15.94 and its two-hundred day simple moving average is $15.27. The stock has a market cap of $654.64 million, a PE ratio of 3.93 and a beta of 0.77.

Gladstone Investment (NASDAQ:GAIN) last issued its quarterly earnings results on Thursday, August 6th. The investment management company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. The firm had revenue of $28.36 million during the quarter, compared to the consensus estimate of $25.75 million. Gladstone Investment had a net margin of 158.95% and a return on equity of 5.90%. On average, sell-side analysts expect that Gladstone Investment Corporation will post 1 EPS for the current fiscal year.

Gladstone Investment Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, September 21st will be paid a $0.08 dividend. This represents a c) annualized dividend and a dividend yield of 5.8%. The ex-dividend date is Monday, September 21st. Gladstone Investment’s dividend payout ratio (DPR) is presently 22.97%.

Wall Street Analyst Weigh In

GAIN has been the topic of several research reports. Zacks Research upgraded Gladstone Investment from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 12th. Oppenheimer lifted their price objective on Gladstone Investment from $15.00 to $17.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. B. Riley Financial upgraded Gladstone Investment from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $14.50 to $16.50 in a research report on Thursday, May 14th. Wall Street Zen upgraded Gladstone Investment from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings cut Gladstone Investment from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $16.75.

Hedge Funds Weigh In On Gladstone Investment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GAIN. UBS Group AG boosted its stake in Gladstone Investment by 89.6% in the third quarter. UBS Group AG now owns 484,848 shares of the investment management company’s stock worth $6,701,000 after purchasing an additional 229,192 shares in the last quarter. PFG Advisors increased its stake in shares of Gladstone Investment by 206.0% in the fourth quarter. PFG Advisors now owns 305,248 shares of the investment management company’s stock valued at $4,264,000 after buying an additional 205,504 shares in the last quarter. Osaic Holdings Inc. raised its holdings in shares of Gladstone Investment by 395.5% in the fourth quarter. Osaic Holdings Inc. now owns 88,410 shares of the investment management company’s stock valued at $1,235,000 after buying an additional 70,566 shares during the last quarter. Invesco Ltd. bought a new position in shares of Gladstone Investment in the second quarter valued at about $735,000. Finally, Legal & General Group Plc lifted its position in Gladstone Investment by 23.0% during the 4th quarter. Legal & General Group Plc now owns 273,752 shares of the investment management company’s stock worth $3,833,000 after buying an additional 51,205 shares in the last quarter. 11.85% of the stock is currently owned by institutional investors and hedge funds.

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.