Gladstone Investment (NASDAQ:GAIN) Cut to Sell at StockNews.com

StockNews.com downgraded shares of Gladstone Investment (NASDAQ:GAIN) from a hold rating to a sell rating in a report released on Tuesday.

Separately, B. Riley reduced their price objective on Gladstone Investment from $14.00 to $13.00 and set a neutral rating on the stock in a research report on Wednesday, August 7th.

Gladstone Investment Trading Up 0.9 %

Shares of NASDAQ GAIN opened at $14.13 on Tuesday. The stock has a 50-day moving average price of $13.26 and a two-hundred day moving average price of $13.77. Gladstone Investment has a 12 month low of $12.14 and a 12 month high of $14.96. The company has a market cap of $518.42 million, a price-to-earnings ratio of 5.70 and a beta of 1.33.

Gladstone Investment (NASDAQ:GAIN) last issued its quarterly earnings data on Monday, August 5th. The investment management company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.01). The company had revenue of $22.18 million during the quarter, compared to the consensus estimate of $24.27 million. Gladstone Investment had a net margin of 78.48% and a return on equity of 7.20%. During the same period in the previous year, the company earned $0.25 EPS. On average, sell-side analysts predict that Gladstone Investment will post 0.99 earnings per share for the current year.

Gladstone Investment Cuts Dividend

The firm also recently declared a Variable dividend, which will be paid on Monday, October 14th. Shareholders of record on Friday, October 4th will be given a $0.70 dividend. The ex-dividend date is Friday, October 4th. Gladstone Investment’s dividend payout ratio (DPR) is currently 38.71%.

Hedge Funds Weigh In On Gladstone Investment

Hedge funds have recently modified their holdings of the business. Blair William & Co. IL raised its position in Gladstone Investment by 0.9% during the 2nd quarter. Blair William & Co. IL now owns 156,333 shares of the investment management company’s stock worth $2,186,000 after purchasing an additional 1,469 shares during the last quarter. Legacy Capital Wealth Partners LLC bought a new position in shares of Gladstone Investment during the second quarter worth about $1,425,000. Drive Wealth Management LLC acquired a new position in shares of Gladstone Investment in the second quarter worth approximately $174,000. Van ECK Associates Corp boosted its holdings in Gladstone Investment by 20.0% in the second quarter. Van ECK Associates Corp now owns 845,074 shares of the investment management company’s stock valued at $11,814,000 after acquiring an additional 140,723 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in Gladstone Investment in the first quarter valued at approximately $198,000. Institutional investors and hedge funds own 11.85% of the company’s stock.

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.