Gladstone Investment Corporation (NASDAQ:GAIN – Get Free Report) saw a significant drop in short interest in the month of March. As of March 31st, there was short interest totaling 1,339,262 shares, a drop of 41.3% from the March 15th total of 2,282,186 shares. Based on an average daily volume of 444,497 shares, the days-to-cover ratio is presently 3.0 days. Currently, 3.4% of the company’s stock are sold short.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Melia Wealth LLC increased its stake in shares of Gladstone Investment by 5.7% in the 3rd quarter. Melia Wealth LLC now owns 1,197,594 shares of the investment management company’s stock worth $16,551,000 after acquiring an additional 64,564 shares during the last quarter. Van ECK Associates Corp grew its position in Gladstone Investment by 2.2% in the 3rd quarter. Van ECK Associates Corp now owns 854,730 shares of the investment management company’s stock valued at $11,812,000 after acquiring an additional 18,089 shares in the last quarter. UBS Group AG grew its position in Gladstone Investment by 47.1% in the 4th quarter. UBS Group AG now owns 713,016 shares of the investment management company’s stock valued at $9,961,000 after acquiring an additional 228,168 shares in the last quarter. PFG Advisors grew its position in Gladstone Investment by 206.0% in the 4th quarter. PFG Advisors now owns 305,248 shares of the investment management company’s stock valued at $4,264,000 after acquiring an additional 205,504 shares in the last quarter. Finally, Legal & General Group Plc grew its position in Gladstone Investment by 23.0% in the 4th quarter. Legal & General Group Plc now owns 273,752 shares of the investment management company’s stock valued at $3,833,000 after acquiring an additional 51,205 shares in the last quarter. Hedge funds and other institutional investors own 11.85% of the company’s stock.
Gladstone Investment Price Performance
NASDAQ:GAIN traded up $0.13 during midday trading on Tuesday, hitting $15.14. The company’s stock had a trading volume of 284,505 shares, compared to its average volume of 273,774. Gladstone Investment has a fifty-two week low of $13.11 and a fifty-two week high of $15.34. The firm’s 50 day moving average is $14.06 and its 200-day moving average is $13.94. The firm has a market cap of $602.87 million, a P/E ratio of 4.87 and a beta of 0.78.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the company. B. Riley Financial reaffirmed a “neutral” rating on shares of Gladstone Investment in a research report on Monday, February 9th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Gladstone Investment in a research report on Friday, March 27th. Wall Street Zen raised Gladstone Investment from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Zacks Research raised Gladstone Investment from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold”.
Check Out Our Latest Research Report on Gladstone Investment
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.
Further Reading
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