Cassaday & Co Wealth Management LLC Decreases Stock Holdings in Gladstone Investment Corporation $GAIN

Cassaday & Co Wealth Management LLC reduced its position in shares of Gladstone Investment Corporation (NASDAQ:GAIN) by 40.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 79,000 shares of the investment management company’s stock after selling 53,000 shares during the quarter. Cassaday & Co Wealth Management LLC owned approximately 0.20% of Gladstone Investment worth $1,123,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. grew its holdings in Gladstone Investment by 2.0% in the 2nd quarter. Raymond James Financial Inc. now owns 40,857 shares of the investment management company’s stock worth $583,000 after acquiring an additional 814 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of Gladstone Investment by 5.6% during the fourth quarter. NewEdge Advisors LLC now owns 20,460 shares of the investment management company’s stock valued at $286,000 after acquiring an additional 1,084 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Gladstone Investment by 11.3% during the fourth quarter. Wells Fargo & Company MN now owns 14,777 shares of the investment management company’s stock worth $206,000 after purchasing an additional 1,500 shares during the period. Kestra Advisory Services LLC purchased a new stake in shares of Gladstone Investment during the fourth quarter worth about $26,000. Finally, JPMorgan Chase & Co. grew its stake in shares of Gladstone Investment by 36.7% in the third quarter. JPMorgan Chase & Co. now owns 7,249 shares of the investment management company’s stock worth $100,000 after purchasing an additional 1,945 shares during the last quarter. Hedge funds and other institutional investors own 11.85% of the company’s stock.

Analyst Ratings Changes

GAIN has been the topic of a number of research analyst reports. Oppenheimer boosted their price target on Gladstone Investment from $15.00 to $17.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. B. Riley Financial upgraded Gladstone Investment from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $14.50 to $16.50 in a report on Thursday, May 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of Gladstone Investment in a research report on Wednesday, July 15th. Finally, Wall Street Zen lowered Gladstone Investment from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Gladstone Investment presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.75.

Gladstone Investment Trading Down 0.8%

Shares of Gladstone Investment stock opened at $16.41 on Tuesday. The firm has a market capitalization of $653.45 million, a P/E ratio of 3.50 and a beta of 0.78. The business has a fifty day simple moving average of $15.76 and a two-hundred day simple moving average of $14.91. Gladstone Investment Corporation has a 12 month low of $13.11 and a 12 month high of $17.14.

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

Gladstone Investment Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, September 21st will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, September 21st. This represents a c) annualized dividend and a yield of 5.9%. Gladstone Investment’s payout ratio is presently 20.47%.

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.