California Public Employees Retirement System held its stake in Gladstone Investment Corporation (NASDAQ:GAIN) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,000 shares of the investment management company’s stock at the end of the first quarter. California Public Employees Retirement System’s holdings in Gladstone Investment Corporation were worth $744,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Advantage Investment Management LLC purchased a new position in Gladstone Investment Corporation during the first quarter valued at approximately $1,102,000. Advisors Asset Management Inc. raised its position in Gladstone Investment Corporation by 7.3% in the first quarter. Advisors Asset Management Inc. now owns 795,167 shares of the investment management company’s stock valued at $7,212,000 after buying an additional 54,169 shares in the last quarter. Van ECK Associates Corp raised its position in Gladstone Investment Corporation by 29.0% in the first quarter. Van ECK Associates Corp now owns 231,482 shares of the investment management company’s stock valued at $2,100,000 after buying an additional 52,066 shares in the last quarter. Oxford Asset Management purchased a new position in Gladstone Investment Corporation during the first quarter valued at approximately $303,000. Finally, LSV Asset Management raised its position in Gladstone Investment Corporation by 5.3% in the first quarter. LSV Asset Management now owns 496,499 shares of the investment management company’s stock valued at $4,503,000 after buying an additional 24,983 shares in the last quarter. Hedge funds and other institutional investors own 20.22% of the company’s stock.
Gladstone Investment Corporation (GAIN) traded up 0.15% during trading on Thursday, hitting $9.54. 20,659 shares of the stock traded hands. The company has a 50-day moving average price of $9.50 and a 200 day moving average price of $9.26. Gladstone Investment Corporation has a one year low of $7.16 and a one year high of $9.84.
Gladstone Investment Corporation (NASDAQ:GAIN) last announced its earnings results on Tuesday, August 1st. The investment management company reported $0.17 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.17. Gladstone Investment Corporation had a return on equity of 6.95% and a net margin of 55.52%. The company had revenue of $13.62 million during the quarter, compared to analyst estimates of $13.01 million. On average, equities analysts predict that Gladstone Investment Corporation will post $0.70 earnings per share for the current year.
The firm also recently announced a monthly dividend, which will be paid on Friday, September 29th. Stockholders of record on Wednesday, September 20th will be paid a $0.064 dividend. The ex-dividend date is Tuesday, September 19th. This represents a $0.77 dividend on an annualized basis and a dividend yield of 8.01%. Gladstone Investment Corporation’s dividend payout ratio (DPR) is presently 82.80%.
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Several equities analysts have recently commented on GAIN shares. Jefferies Group LLC restated a “hold” rating and set a $9.00 price target on shares of Gladstone Investment Corporation in a research report on Friday, May 12th. Zacks Investment Research lowered shares of Gladstone Investment Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. BidaskClub lowered shares of Gladstone Investment Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Finally, Wedbush started coverage on shares of Gladstone Investment Corporation in a research report on Wednesday, June 14th. They set an “outperform” rating and a $10.00 price target for the company.
In other Gladstone Investment Corporation news, CEO David Gladstone bought 24,000 shares of the stock in a transaction dated Wednesday, June 14th. The stock was bought at an average cost of $9.25 per share, for a total transaction of $222,000.00. Following the completion of the purchase, the chief executive officer now owns 625,973 shares in the company, valued at approximately $5,790,250.25. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.40% of the company’s stock.
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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