Raymond James Financial Services Advisors Inc. Purchases Shares of 17,453 Gladstone Investment Co. (NASDAQ:GAIN)

Raymond James Financial Services Advisors Inc. purchased a new stake in Gladstone Investment Co. (NASDAQ:GAIN) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 17,453 shares of the investment management company’s stock, valued at approximately $247,000.

Several other hedge funds and other institutional investors have also made changes to their positions in GAIN. Van ECK Associates Corp increased its holdings in Gladstone Investment by 7.5% in the third quarter. Van ECK Associates Corp now owns 559,626 shares of the investment management company’s stock valued at $7,130,000 after purchasing an additional 38,921 shares during the last quarter. Sound Income Strategies LLC acquired a new position in shares of Gladstone Investment during the 4th quarter worth about $440,000. WINTON GROUP Ltd bought a new stake in shares of Gladstone Investment in the 3rd quarter valued at about $369,000. Raymond James & Associates raised its position in shares of Gladstone Investment by 80.8% in the 4th quarter. Raymond James & Associates now owns 49,600 shares of the investment management company’s stock valued at $702,000 after acquiring an additional 22,173 shares during the period. Finally, Virtus ETF Advisers LLC boosted its stake in 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 acquiring an additional 20,549 shares during the last quarter. 11.85% of the stock is currently owned by institutional investors.

Gladstone Investment Stock Performance

Shares of NASDAQ:GAIN opened at $14.22 on Wednesday. The company has a 50 day moving average price of $14.00 and a two-hundred day moving average price of $14.05. The company 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 released its quarterly earnings data on Tuesday, February 6th. The investment management company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). Gladstone Investment had a net margin of 80.68% and a return on equity of 7.79%. The firm had revenue of $23.08 million during the quarter, compared to the consensus estimate of $24.04 million. On average, sell-side analysts forecast that Gladstone Investment Co. will post 1.01 earnings per share for the current year.

Gladstone Investment Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, June 28th. Stockholders of record on Wednesday, June 19th will be given a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a dividend yield of 6.75%. The ex-dividend date is Tuesday, June 18th. Gladstone Investment’s dividend payout ratio is 48.24%.

About Gladstone Investment

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.