Gladstone Investment (NASDAQ:GAIN) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

Gladstone Investment Corporation (NASDAQ:GAIN) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $13.98 and traded as high as $14.12. Gladstone Investment shares last traded at $13.99, with a volume of 205,702 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wall Street Zen cut shares of Gladstone Investment from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Gladstone Investment in a research report on Monday, December 22nd. Finally, Zacks Research cut Gladstone Investment from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold”.

Gladstone Investment Stock Performance

The stock has a market cap of $554.70 million, a P/E ratio of 5.60 and a beta of 0.84. The business’s 50-day moving average price is $13.87 and its 200-day moving average price is $13.98.

Gladstone Investment (NASDAQ:GAIN) last announced its quarterly earnings data on Tuesday, November 4th. The investment management company reported $0.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.24. Gladstone Investment had a return on equity of 7.12% and a net margin of 94.99%.The company had revenue of $25.28 million during the quarter, compared to the consensus estimate of $24.58 million. As a group, equities research analysts expect that Gladstone Investment Corporation will post 0.96 earnings per share for the current year.

Gladstone Investment Announces Dividend

The company also recently declared a monthly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 22nd were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, December 22nd. This represents a c) dividend on an annualized basis and a yield of 6.9%. Gladstone Investment’s dividend payout ratio is presently 38.40%.

Hedge Funds Weigh In On Gladstone Investment

A number of institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its position in shares of Gladstone Investment by 36.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,249 shares of the investment management company’s stock valued at $100,000 after buying an additional 1,945 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in Gladstone Investment by 29.9% during the third quarter. CANADA LIFE ASSURANCE Co now owns 48,371 shares of the investment management company’s stock valued at $666,000 after purchasing an additional 11,133 shares during the period. Verition Fund Management LLC bought a new stake in shares of Gladstone Investment in the 3rd quarter valued at approximately $153,000. Bank of America Corp DE increased its position in shares of Gladstone Investment by 272.1% during the 3rd quarter. Bank of America Corp DE now owns 8,946 shares of the investment management company’s stock valued at $124,000 after purchasing an additional 6,542 shares during the last quarter. Finally, Raymond James Financial Inc. increased its position in shares of Gladstone Investment by 7.6% during the 3rd quarter. Raymond James Financial Inc. now owns 43,953 shares of the investment management company’s stock valued at $607,000 after purchasing an additional 3,096 shares during the last quarter. 11.85% of the stock is owned by hedge funds and other institutional investors.

Gladstone Investment Company Profile

Gladstone Investment (NASDAQ: GAIN) is a publicly traded business development company (BDC) that focuses on providing debt and equity financing to U.S. middle-market companies. As an externally managed closed-end fund, Gladstone Investment seeks to generate current income and capital appreciation for its shareholders by originating senior secured debt, subordinated debt and equity investments. The firm typically targets established businesses with revenues between $10 million and $150 million, across a range of industry sectors including business services, health care, industrials and specialty manufacturing.

The company’s investment strategy centers on deploying capital through first-lien and second-lien term loans, mezzanine debt and equity co-investments, often including warrants or other equity kickers.