BidaskClub upgraded shares of Gladstone Investment (NASDAQ:GAIN) from a sell rating to a hold rating in a research note published on Friday, March 9th.
A number of other research firms also recently weighed in on GAIN. Wedbush downgraded Gladstone Investment from an outperform rating to a neutral rating and raised their price target for the company from $10.50 to $11.00 in a research report on Monday, November 20th. ValuEngine upgraded Gladstone Investment from a buy rating to a strong-buy rating in a report on Thursday, March 1st. Zacks Investment Research downgraded Gladstone Investment from a buy rating to a hold rating in a report on Friday, March 2nd. Finally, Ladenburg Thalmann Financial Services upgraded Gladstone Investment from a neutral rating to a buy rating in a report on Wednesday, February 7th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $10.67.
Gladstone Investment (NASDAQ GAIN) traded up $0.10 during trading on Friday, hitting $10.41. The stock had a trading volume of 178,654 shares, compared to its average volume of 167,559. Gladstone Investment has a 52-week low of $8.63 and a 52-week high of $11.50. The company has a market capitalization of $335.35, a price-to-earnings ratio of 6.85 and a beta of 0.52.
The company also recently disclosed a monthly dividend, which will be paid on Friday, March 30th. Investors of record on Tuesday, March 20th will be issued a $0.065 dividend. The ex-dividend date is Monday, March 19th. This represents a $0.78 dividend on an annualized basis and a yield of 7.49%. Gladstone Investment’s payout ratio is currently 51.32%.
In related news, President David A. R. Dullum bought 5,000 shares of the firm’s stock in a transaction on Monday, March 5th. The stock was acquired at an average cost of $9.56 per share, for a total transaction of $47,800.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.40% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of GAIN. Millennium Management LLC increased its stake in shares of Gladstone Investment by 228.0% in the 4th quarter. Millennium Management LLC now owns 105,456 shares of the investment management company’s stock worth $1,177,000 after purchasing an additional 73,303 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Gladstone Investment in the 4th quarter worth $678,000. LPL Financial LLC boosted its holdings in Gladstone Investment by 347.6% in the 4th quarter. LPL Financial LLC now owns 69,349 shares of the investment management company’s stock worth $774,000 after buying an additional 53,856 shares during the period. California Public Employees Retirement System boosted its holdings in shares of Gladstone Investment by 49.5% during the 4th quarter. California Public Employees Retirement System now owns 122,600 shares of the investment management company’s stock valued at $1,368,000 after purchasing an additional 40,600 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Gladstone Investment by 9,371.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 30,308 shares of the investment management company’s stock valued at $286,000 after purchasing an additional 29,988 shares during the last quarter. Hedge funds and other institutional investors own 16.84% of the company’s stock.
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About Gladstone Investment
Gladstone Investment Corporation is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objectives are to achieve and grow current income by investing in debt securities of established businesses that it believes will provide stable earnings and cash flow to pay expenses, make principal and interest payments on its outstanding indebtedness and make distributions to stockholders that grow over time, and provide its stockholders with long-term capital appreciation in the value of its assets by investing in equity securities, generally in combination with the aforementioned debt securities, of businesses that it believes can grow over time to permit it to sell its equity investments for capital gains.
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