Raymond James & Associates Purchases 22,173 Shares of Gladstone Investment Co. (NASDAQ:GAIN)

Raymond James & Associates raised its holdings in shares of Gladstone Investment Co. (NASDAQ:GAIN) by 80.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 49,600 shares of the investment management company’s stock after buying an additional 22,173 shares during the period. Raymond James & Associates’ holdings in Gladstone Investment were worth $702,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Van ECK Associates Corp boosted its holdings in Gladstone Investment by 7.5% during the third quarter. Van ECK Associates Corp now owns 559,626 shares of the investment management company’s stock worth $7,130,000 after purchasing an additional 38,921 shares during the last quarter. Belpointe Asset Management LLC lifted its position in Gladstone Investment by 5.5% during the 3rd quarter. Belpointe Asset Management LLC now owns 40,507 shares of the investment management company’s stock worth $516,000 after buying an additional 2,118 shares in the last quarter. Virtus ETF Advisers LLC boosted its stake in shares of Gladstone Investment by 120.3% during the 3rd quarter. Virtus ETF Advisers LLC now owns 37,631 shares of the investment management company’s stock worth $479,000 after buying an additional 20,549 shares during the last quarter. Sound Income Strategies LLC bought a new position in shares of Gladstone Investment in the 4th quarter valued at about $440,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of Gladstone Investment in the third quarter valued at about $369,000. 11.85% of the stock is currently owned by institutional investors and hedge funds.

Gladstone Investment Stock Performance

Shares of NASDAQ GAIN opened at $14.22 on Wednesday. The stock has a 50 day moving average price of $14.00 and a 200 day moving average price of $14.05. The stock has a market capitalization of $521.72 million, a PE ratio of 7.15 and a beta of 1.36. Gladstone Investment Co. has a 52 week low of $12.14 and a 52 week high of $14.96.

Gladstone Investment (NASDAQ:GAIN) last announced its quarterly earnings data on Tuesday, February 6th. The investment management company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). Gladstone Investment had a return on equity of 7.79% and a net margin of 80.68%. The company had revenue of $23.08 million for the quarter, compared to the consensus estimate of $24.04 million. As a group, research analysts forecast that Gladstone Investment Co. will post 1.01 EPS for the current year.

Gladstone Investment Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, June 28th. Shareholders of record on Wednesday, June 19th will be paid a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 6.75%. The ex-dividend date of this dividend is Tuesday, June 18th. Gladstone Investment’s dividend payout ratio is currently 48.24%.

Gladstone Investment 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.