PFG Advisors Raises Stock Position in Gladstone Investment Corporation $GAIN

PFG Advisors raised its stake in shares of Gladstone Investment Corporation (NASDAQ:GAIN) by 206.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 305,248 shares of the investment management company’s stock after purchasing an additional 205,504 shares during the quarter. PFG Advisors owned approximately 0.77% of Gladstone Investment worth $4,264,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Melia Wealth LLC increased its position in Gladstone Investment by 5.7% during the 3rd quarter. Melia Wealth LLC now owns 1,197,594 shares of the investment management company’s stock valued at $16,551,000 after purchasing an additional 64,564 shares during the period. Van ECK Associates Corp increased its position in Gladstone Investment by 2.2% during 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 purchasing an additional 18,089 shares during the period. UBS Group AG increased its position in Gladstone Investment by 89.6% during the 3rd quarter. UBS Group AG now owns 484,848 shares of the investment management company’s stock valued at $6,701,000 after purchasing an additional 229,192 shares during the period. DAVENPORT & Co LLC increased its position in Gladstone Investment by 1.9% during the 4th quarter. DAVENPORT & Co LLC now owns 137,862 shares of the investment management company’s stock valued at $1,926,000 after purchasing an additional 2,600 shares during the period. Finally, Cassaday & Co Wealth Management LLC increased its position in Gladstone Investment by 13.8% during the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 128,000 shares of the investment management company’s stock valued at $1,769,000 after purchasing an additional 15,500 shares during the period. 11.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GAIN has been the topic of a number of recent research reports. B. Riley Financial reaffirmed a “neutral” rating on shares of Gladstone Investment in a research report on Monday, February 9th. Wall Street Zen raised shares of Gladstone Investment from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Gladstone Investment in a research report on Friday, March 27th. Finally, Zacks Research raised shares of 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 issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Gladstone Investment Stock Performance

Shares of GAIN stock opened at $15.89 on Tuesday. Gladstone Investment Corporation has a one year low of $13.11 and a one year high of $16.00. The company’s 50-day moving average is $14.23 and its 200 day moving average is $14.00. The company has a market capitalization of $632.74 million, a price-to-earnings ratio of 5.11 and a beta of 0.78.

Gladstone Investment (NASDAQ:GAIN) last announced its quarterly earnings data on Tuesday, February 3rd. The investment management company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.03). Gladstone Investment had a net margin of 118.55% and a return on equity of 6.77%. The firm had revenue of $25.06 million for the quarter, compared to analysts’ expectations of $25.83 million. As a group, research analysts predict that Gladstone Investment Corporation will post 0.9 earnings per share for the current fiscal year.

Gladstone Investment Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd will be given a dividend of $0.08 per share. This represents a c) annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend is Tuesday, June 23rd. Gladstone Investment’s dividend payout ratio is 30.87%.

Gladstone Investment 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.