Melia Wealth LLC Has $15.75 Million Stake in Gladstone Investment Corporation $GAIN

Melia Wealth LLC decreased its stake in shares of Gladstone Investment Corporation (NASDAQ:GAIN) by 5.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,127,296 shares of the investment management company’s stock after selling 70,298 shares during the quarter. Gladstone Investment comprises about 7.3% of Melia Wealth LLC’s portfolio, making the stock its 6th largest holding. Melia Wealth LLC’s holdings in Gladstone Investment were worth $15,748,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Van ECK Associates Corp boosted its position in shares of Gladstone Investment by 2.2% during the third quarter. Van ECK Associates Corp now owns 854,730 shares of the investment management company’s stock worth $11,812,000 after acquiring an additional 18,089 shares during the last quarter. UBS Group AG boosted its position in shares of Gladstone Investment by 47.1% during the fourth quarter. UBS Group AG now owns 713,016 shares of the investment management company’s stock worth $9,961,000 after acquiring an additional 228,168 shares during the last quarter. PFG Advisors boosted its position in shares of Gladstone Investment by 206.0% during the fourth quarter. PFG Advisors now owns 305,248 shares of the investment management company’s stock worth $4,264,000 after acquiring an additional 205,504 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Gladstone Investment by 23.0% during the fourth quarter. Legal & General Group Plc now owns 273,752 shares of the investment management company’s stock worth $3,833,000 after acquiring an additional 51,205 shares during the last quarter. Finally, Outfitters Financial LLC boosted its position in shares of Gladstone Investment by 1.2% during the fourth quarter. Outfitters Financial LLC now owns 204,345 shares of the investment management company’s stock worth $2,855,000 after acquiring an additional 2,450 shares during the last quarter. Institutional investors own 11.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on GAIN shares. Wall Street Zen lowered shares of Gladstone Investment from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Oppenheimer increased their price objective on shares of Gladstone Investment from $15.00 to $17.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Zacks Research upgraded shares of Gladstone Investment from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. B. Riley Financial upgraded shares of Gladstone Investment from a “neutral” rating to a “buy” rating and increased their price objective for the company from $14.50 to $16.50 in a research report on Thursday, May 14th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Gladstone Investment in a research report on Friday, March 27th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $16.75.

Gladstone Investment Stock Up 0.7%

GAIN stock opened at $15.96 on Thursday. Gladstone Investment Corporation has a 52 week low of $13.11 and a 52 week high of $17.14. The company has a fifty day simple moving average of $15.47 and a two-hundred day simple moving average of $14.44. The firm has a market capitalization of $635.56 million, a P/E ratio of 3.40 and a beta of 0.81.

Gladstone Investment (NASDAQ:GAIN) last released its quarterly earnings data on Tuesday, May 12th. The investment management company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.02). Gladstone Investment had a net margin of 186.47% and a return on equity of 6.05%. The business had revenue of $25.19 million for the quarter, compared to the consensus estimate of $25.80 million. As a group, analysts anticipate that Gladstone Investment Corporation will post 0.91 EPS for the current year.

Gladstone Investment Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd will be paid a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a c) annualized dividend and a dividend yield of 6.0%. Gladstone Investment’s dividend payout ratio is currently 20.47%.

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.