Outfitter Advisors LTD. Increases Stake in Gladstone Investment Corporation (NASDAQ:GAIN)
Outfitter Advisors LTD. raised its stake in Gladstone Investment Corporation (NASDAQ:GAIN) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 246,265 shares of the investment management company’s stock after buying an additional 2,800 shares during the period. Outfitter Advisors LTD.’s holdings in Gladstone Investment Corporation were worth $2,315,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the company. Stratos Wealth Partners LTD. increased its position in Gladstone Investment Corporation by 19.5% in the second quarter. Stratos Wealth Partners LTD. now owns 14,614 shares of the investment management company’s stock valued at $137,000 after buying an additional 2,382 shares in the last quarter. Crow Point Partners LLC acquired a new position in Gladstone Investment Corporation during the second quarter valued at $140,000. Eagle Global Advisors LLC increased its position in Gladstone Investment Corporation by 34.9% in the first quarter. Eagle Global Advisors LLC now owns 19,973 shares of the investment management company’s stock valued at $181,000 after buying an additional 5,170 shares in the last quarter. Mackenzie Financial Corp increased its position in Gladstone Investment Corporation by 75.2% in the first quarter. Mackenzie Financial Corp now owns 28,025 shares of the investment management company’s stock valued at $254,000 after buying an additional 12,025 shares in the last quarter. Finally, Oxford Asset Management acquired a new position in Gladstone Investment Corporation during the first quarter valued at $303,000. 20.16% of the stock is currently owned by hedge funds and other institutional investors.
Gladstone Investment Corporation (NASDAQ:GAIN) opened at 9.36 on Friday. Gladstone Investment Corporation has a 52 week low of $7.16 and a 52 week high of $9.84. The firm’s 50-day moving average is $9.49 and its 200-day moving average is $9.24.
Gladstone Investment Corporation (NASDAQ:GAIN) last released its earnings results on Tuesday, August 1st. The investment management company reported $0.17 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.17. The company had revenue of $13.62 million for the quarter, compared to analyst estimates of $13.01 million. Gladstone Investment Corporation had a net margin of 55.52% and a return on equity of 6.95%. On average, equities analysts predict that Gladstone Investment Corporation will post $0.70 EPS for the current fiscal year.
The company also recently announced a monthly dividend, which will be paid on Friday, September 29th. Shareholders of record on Wednesday, September 20th will be issued a $0.064 dividend. The ex-dividend date of this dividend is Tuesday, September 19th. This represents a $0.77 dividend on an annualized basis and a yield of 8.21%. Gladstone Investment Corporation’s dividend payout ratio (DPR) is 82.80%.
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GAIN has been the topic of several research reports. BidaskClub downgraded shares of Gladstone Investment Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Jefferies Group LLC reaffirmed a “hold” rating and set a $9.00 target price on shares of Gladstone Investment Corporation in a research note on Friday, May 12th. Wedbush assumed coverage on shares of Gladstone Investment Corporation in a research note on Wednesday, June 14th. They set an “outperform” rating and a $10.00 target price on the stock. Finally, Zacks Investment Research downgraded shares of Gladstone Investment Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd.
In other news, CEO David Gladstone bought 24,000 shares of Gladstone Investment Corporation stock in a transaction on Wednesday, June 14th. The shares were bought at an average cost of $9.25 per share, for a total transaction of $222,000.00. Following the acquisition, the chief executive officer now owns 625,973 shares in the company, valued at $5,790,250.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.40% of the stock is currently owned by corporate insiders.
Gladstone Investment Corporation Company Profile
Gladstone Investment Corporation is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objectives are to achieve and grow current income by investing in debt securities of established businesses that it believes will provide stable earnings and cash flow to pay expenses, make principal and interest payments on its outstanding indebtedness and make distributions to stockholders that grow over time, and provide its stockholders with long-term capital appreciation in the value of its assets by investing in equity securities, generally in combination with the aforementioned debt securities, of businesses that it believes can grow over time to permit it to sell its equity investments for capital gains.
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