Millennium Management LLC Invests $411,000 in Gladstone Investment Co. (NASDAQ:GAIN)

Millennium Management LLC purchased a new position in shares of Gladstone Investment Co. (NASDAQ:GAIN) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 31,017 shares of the investment management company’s stock, valued at approximately $411,000. Millennium Management LLC owned approximately 0.08% of Gladstone Investment at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Atlantic Union Bankshares Corp raised its holdings in shares of Gladstone Investment by 1.0% during the fourth quarter. Atlantic Union Bankshares Corp now owns 90,418 shares of the investment management company’s stock valued at $1,198,000 after acquiring an additional 873 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in Gladstone Investment by 4.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 34,065 shares of the investment management company’s stock worth $451,000 after acquiring an additional 1,365 shares during the last quarter. Kentucky Trust Co acquired a new stake in Gladstone Investment during the fourth quarter worth $26,000. Blair William & Co. IL boosted its position in shares of Gladstone Investment by 2.9% during the fourth quarter. Blair William & Co. IL now owns 161,745 shares of the investment management company’s stock worth $2,143,000 after buying an additional 4,552 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Gladstone Investment by 22.2% during the fourth quarter. Northern Trust Corp now owns 27,200 shares of the investment management company’s stock worth $360,000 after buying an additional 4,945 shares during the period. Hedge funds and other institutional investors own 11.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GAIN shares. Citigroup lowered Gladstone Investment to a “neutral” rating in a report on Wednesday, May 14th. LADENBURG THALM/SH SH reiterated a “neutral” rating on shares of Gladstone Investment in a research report on Wednesday, May 14th.

Gladstone Investment Stock Up 0.5%

Shares of GAIN stock opened at $13.98 on Tuesday. Gladstone Investment Co. has a 52-week low of $11.42 and a 52-week high of $15.34. The stock’s 50-day moving average price is $13.91 and its 200 day moving average price is $13.59. The stock has a market capitalization of $514.98 million, a PE ratio of 7.28 and a beta of 0.89.

Gladstone Investment (NASDAQ:GAIN) last announced its quarterly earnings data on Tuesday, May 13th. The investment management company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The company had revenue of $27.55 million for the quarter, compared to analyst estimates of $24.96 million. Gladstone Investment had a return on equity of 7.17% and a net margin of 78.02%. Analysts expect that Gladstone Investment Co. will post 0.96 earnings per share for the current fiscal year.

Gladstone Investment Announces Dividend

The company also recently declared a dividend, which was paid on Friday, May 30th. Stockholders of record on Thursday, May 22nd were paid a dividend of $0.08 per share. This represents a dividend yield of 6.55%. The ex-dividend date of this dividend was Wednesday, May 21st. Gladstone Investment’s dividend payout ratio (DPR) is 53.93%.

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.