D. E. Shaw & Co. Inc. lowered its stake in shares of Gladstone Investment Co. (NASDAQ:GAIN) by 24.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,011 shares of the investment management company’s stock after selling 8,792 shares during the quarter. D. E. Shaw & Co. Inc. owned 0.08% of Gladstone Investment worth $303,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp raised its position in Gladstone Investment by 10.1% in the 2nd quarter. Van ECK Associates Corp now owns 307,817 shares of the investment management company’s stock worth $3,457,000 after purchasing an additional 28,326 shares during the period. Virtus ETF Advisers LLC purchased a new position in Gladstone Investment in the 2nd quarter worth $2,630,000. Janney Montgomery Scott LLC raised its position in Gladstone Investment by 0.6% in the 2nd quarter. Janney Montgomery Scott LLC now owns 166,374 shares of the investment management company’s stock worth $1,868,000 after purchasing an additional 960 shares during the period. Atlantic Union Bankshares Corp purchased a new position in Gladstone Investment in the 2nd quarter worth $1,785,000. Finally, Morgan Stanley raised its position in Gladstone Investment by 25.9% in the 2nd quarter. Morgan Stanley now owns 119,627 shares of the investment management company’s stock worth $1,343,000 after purchasing an additional 24,625 shares during the period. Hedge funds and other institutional investors own 12.57% of the company’s stock.
A number of equities analysts recently commented on GAIN shares. ValuEngine upgraded shares of Gladstone Investment from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. BidaskClub upgraded shares of Gladstone Investment from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 1st. Finally, Zacks Investment Research cut shares of Gladstone Investment from a “buy” rating to a “hold” rating in a research report on Tuesday.
Gladstone Investment (NASDAQ:GAIN) last announced its quarterly earnings results on Wednesday, July 31st. The investment management company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. The business had revenue of $17.31 million for the quarter, compared to analyst estimates of $13.69 million. Gladstone Investment had a net margin of 89.98% and a return on equity of 6.84%. As a group, sell-side analysts expect that Gladstone Investment Co. will post 0.86 earnings per share for the current year.
The company also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 22nd will be issued a $0.068 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 6.58%. The ex-dividend date is Monday, October 21st. Gladstone Investment’s dividend payout ratio (DPR) is presently 106.49%.
In other news, CEO David Gladstone purchased 20,581 shares of the business’s stock in a transaction on Monday, September 9th. The shares were acquired at an average price of $11.99 per share, with a total value of $246,766.19. Following the acquisition, the chief executive officer now directly owns 666,554 shares in the company, valued at $7,991,982.46. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President David A. R. Dullum purchased 2,400 shares of the business’s stock in a transaction on Friday, September 13th. The stock was purchased at an average cost of $12.44 per share, for a total transaction of $29,856.00. Following the acquisition, the president now owns 97,616 shares in the company, valued at $1,214,343.04. The disclosure for this purchase can be found here. 2.56% of the stock is owned by company insiders.
Gladstone Investment Company Profile
Gladstone Investment Corporation is a private equity fund specializing in lower middle market, acquisitions, mature stage, buyouts; recapitalizations; refinancing existing debt; senior debt securities such as senior loans, senior term loans, lines of credit, and senior notes; senior subordinated debt securities such as senior subordinated loans and senior subordinated notes; junior subordinated debt securities such as subordinated notes and mezzanine loans; limited liability company interests, and warrants or options.
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