Advisors Asset Management Inc. Boosts Stock Position in Gladstone Investment Co. (NASDAQ:GAIN)

Advisors Asset Management Inc. boosted its holdings in shares of Gladstone Investment Co. (NASDAQ:GAIN) by 12.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 159,421 shares of the investment management company’s stock after purchasing an additional 17,209 shares during the period. Advisors Asset Management Inc.’s holdings in Gladstone Investment were worth $2,304,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Drive Wealth Management LLC bought a new stake in shares of Gladstone Investment in the 2nd quarter worth approximately $174,000. Virtu Financial LLC purchased a new stake in Gladstone Investment in the first quarter worth $198,000. Private Advisor Group LLC lifted its stake in Gladstone Investment by 6.9% in the third quarter. Private Advisor Group LLC now owns 24,801 shares of the investment management company’s stock worth $358,000 after acquiring an additional 1,609 shares during the period. International Assets Investment Management LLC boosted its holdings in Gladstone Investment by 1,345.0% in the third quarter. International Assets Investment Management LLC now owns 31,646 shares of the investment management company’s stock valued at $457,000 after acquiring an additional 29,456 shares in the last quarter. Finally, Garner Asset Management Corp increased its position in Gladstone Investment by 9.1% during the 1st quarter. Garner Asset Management Corp now owns 41,333 shares of the investment management company’s stock valued at $588,000 after purchasing an additional 3,451 shares during the period. Institutional investors own 11.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GAIN shares. StockNews.com raised shares of Gladstone Investment from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. B. Riley raised their price objective on shares of Gladstone Investment from $13.00 to $13.50 and gave the stock a “neutral” rating in a report on Monday, November 11th.

Gladstone Investment Trading Down 1.0 %

GAIN opened at $13.37 on Monday. The company has a market cap of $490.55 million, a price-to-earnings ratio of 12.61 and a beta of 1.33. The stock has a fifty day simple moving average of $13.79 and a two-hundred day simple moving average of $13.71. Gladstone Investment Co. has a 12-month low of $12.46 and a 12-month high of $14.96.

Gladstone Investment Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 20th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.96 dividend on an annualized basis and a yield of 7.18%. Gladstone Investment’s dividend payout ratio (DPR) is currently 90.57%.

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.