Gladstone Investment (NASDAQ:GAIN) Downgraded to “Sell” at StockNews.com

StockNews.com cut shares of Gladstone Investment (NASDAQ:GAIN) from a hold rating to a sell rating in a research note released on Tuesday.

Separately, B. Riley lowered their price objective on Gladstone Investment from $14.00 to $13.00 and set a neutral rating on the stock in a research note on Wednesday, August 7th.

Gladstone Investment Stock Performance

Shares of Gladstone Investment stock opened at $14.12 on Tuesday. Gladstone Investment has a 52-week low of $12.25 and a 52-week high of $14.96. The stock’s 50-day simple moving average is $13.28 and its 200 day simple moving average is $13.77. The stock has a market capitalization of $518.05 million, a P/E ratio of 5.69 and a beta of 1.33.

Gladstone Investment (NASDAQ:GAIN) last announced its quarterly earnings data on Monday, August 5th. The investment management company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). Gladstone Investment had a net margin of 78.48% and a return on equity of 7.20%. The firm had revenue of $22.18 million during the quarter, compared to the consensus estimate of $24.27 million. During the same quarter in the prior year, the firm posted $0.25 earnings per share. Equities research analysts forecast that Gladstone Investment will post 1 EPS for the current fiscal year.

Gladstone Investment Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be given a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a dividend yield of 6.80%. The ex-dividend date of this dividend is Friday, December 20th. Gladstone Investment’s dividend payout ratio is presently 38.71%.

Institutional Investors Weigh In On Gladstone Investment

Several hedge funds and other institutional investors have recently modified their holdings of GAIN. Drive Wealth Management LLC bought a new stake in shares of Gladstone Investment during the second quarter valued at about $174,000. Virtu Financial LLC bought a new position in shares of Gladstone Investment in the first quarter worth approximately $198,000. Garner Asset Management Corp increased its position in shares of Gladstone Investment by 9.1% in the first quarter. Garner Asset Management Corp now owns 41,333 shares of the investment management company’s stock worth $588,000 after purchasing an additional 3,451 shares during the last quarter. Legacy Capital Wealth Partners LLC bought a new position in shares of Gladstone Investment in the second quarter worth approximately $1,425,000. Finally, Blair William & Co. IL increased its position in shares of Gladstone Investment by 0.9% in the second quarter. Blair William & Co. IL now owns 156,333 shares of the investment management company’s stock worth $2,186,000 after purchasing an additional 1,469 shares during the last quarter. 11.85% of the stock is currently owned by institutional investors.

Gladstone Investment Company Profile

Gladstone Investment Corporation is business development company, specializes in lower middle market, mature stage, buyouts; refinancing existing debt; senior debt securities such as senior loans, senior term loans, lines of credit, and senior notes; senior subordinated debt securities such as senior subordinated loans and senior subordinated notes; junior subordinated debt securities such as subordinated notes and mezzanine loans; limited liability company interests, and warrants or options.