Gladstone Investment (NASDAQ:GAIN – Get Free Report) announced its earnings results on Tuesday. The investment management company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.02), Zacks reports. The company had revenue of $25.19 million during the quarter, compared to analysts’ expectations of $25.80 million. Gladstone Investment had a net margin of 186.47% and a return on equity of 6.41%.
Gladstone Investment Price Performance
Shares of NASDAQ GAIN traded up $0.79 during midday trading on Thursday, hitting $16.53. 294,958 shares of the company’s stock were exchanged, compared to its average volume of 320,704. Gladstone Investment has a twelve month low of $13.11 and a twelve month high of $17.14. The company has a market cap of $658.22 million, a PE ratio of 3.52 and a beta of 0.81. The firm’s fifty day simple moving average is $14.99 and its 200-day simple moving average is $14.28.
Gladstone Investment Dividend Announcement
The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd will be given a dividend of $0.08 per share. This represents a c) annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend is Tuesday, June 23rd. Gladstone Investment’s dividend payout ratio (DPR) is 30.87%.
Analysts Set New Price Targets
Check Out Our Latest Research Report on GAIN
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of the stock. Kestra Advisory Services LLC acquired a new position in Gladstone Investment during the fourth quarter worth $26,000. JPMorgan Chase & Co. lifted its position in Gladstone Investment by 960.8% during the second quarter. JPMorgan Chase & Co. now owns 5,304 shares of the investment management company’s stock worth $76,000 after buying an additional 4,804 shares during the period. Quantbot Technologies LP purchased a new position in shares of Gladstone Investment in the 2nd quarter worth about $105,000. Bank of America Corp DE grew its stake in shares of Gladstone Investment by 272.1% in the third quarter. Bank of America Corp DE now owns 8,946 shares of the investment management company’s stock valued at $124,000 after buying an additional 6,542 shares in the last quarter. Finally, Abel Hall LLC acquired a new stake in shares of Gladstone Investment in the fourth quarter valued at about $140,000. Institutional investors and hedge funds own 11.85% of the company’s stock.
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.
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