Gladstone Investment Corporation’s (GAIN) “Hold” Rating Reaffirmed at Jefferies Group LLC

Jefferies Group LLC restated their hold rating on shares of Gladstone Investment Corporation (NASDAQ:GAIN) in a research report report published on Friday, May 12th. Jefferies Group LLC currently has a $9.00 target price on the investment management company’s stock.

Separately, Zacks Investment Research cut Gladstone Investment Corporation from a hold rating to a sell rating in a research note on Wednesday, February 8th.

Shares of Gladstone Investment Corporation (NASDAQ:GAIN) traded up 0.64% during mid-day trading on Friday, reaching $9.45. 296,997 shares of the company’s stock traded hands. The company has a 50 day moving average of $9.29 and a 200 day moving average of $8.97. The company has a market cap of $305.90 million, a price-to-earnings ratio of 6.39 and a beta of 0.71. Gladstone Investment Corporation has a 12 month low of $7.00 and a 12 month high of $9.84.

Gladstone Investment Corporation (NASDAQ:GAIN) last released its quarterly earnings results on Monday, May 15th. The investment management company reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.01. Gladstone Investment Corporation had a net margin of 86.29% and a return on equity of 7.55%. The firm had revenue of $12.36 million for the quarter, compared to the consensus estimate of $12.94 million. Analysts expect that Gladstone Investment Corporation will post $0.72 earnings per share for the current fiscal year.

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The firm also recently declared a special dividend, which was paid on Thursday, June 15th. Stockholders of record on Monday, June 5th were paid a $0.06 dividend. The ex-dividend date of this dividend was Thursday, June 1st. This represents a dividend yield of 8.26%. This is a boost from Gladstone Investment Corporation’s previous special dividend of $0.05. Gladstone Investment Corporation’s payout ratio is currently 51.33%.

In other news, CEO David Gladstone acquired 24,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was bought at an average price of $9.25 per share, with a total value of $222,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 625,973 shares of the company’s stock, valued at approximately $5,790,250.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.10% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC bought a new stake in Gladstone Investment Corporation during the third quarter valued at about $110,000. Eagle Global Advisors LLC acquired a new position in Gladstone Investment Corporation during the third quarter worth $118,000. Two Sigma Securities LLC acquired a new position in Gladstone Investment Corporation during the third quarter worth $134,000. Mackenzie Financial Corp raised 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 worth $254,000 after buying an additional 12,025 shares during the period. Finally, Oxford Asset Management acquired a new position in Gladstone Investment Corporation during the first quarter worth $303,000. 19.39% of the stock is owned by institutional investors and hedge funds.

About Gladstone Investment Corporation

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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