Van ECK Associates Corp Buys 32,678 Shares of Gladstone Investment Co. (NASDAQ:GAIN)

Van ECK Associates Corp lifted its stake in Gladstone Investment Co. (NASDAQ:GAIN) by 3.6% during the fourth quarter, Holdings Channel reports. The fund owned 930,346 shares of the investment management company’s stock after acquiring an additional 32,678 shares during the quarter. Van ECK Associates Corp’s holdings in Gladstone Investment were worth $12,327,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Kentucky Trust Co acquired a new position in Gladstone Investment during the fourth quarter valued at approximately $26,000. Cornerstone Wealth Management LLC acquired a new position in Gladstone Investment in the 4th quarter valued at $136,000. Centiva Capital LP bought a new position in Gladstone Investment in the 3rd quarter worth $192,000. Paloma Partners Management Co acquired a new position in Gladstone Investment during the 3rd quarter worth $239,000. Finally, Union Bancaire Privee UBP SA bought a new stake in Gladstone Investment during the fourth quarter valued at about $250,000. 11.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GAIN. B. Riley lifted their price objective on Gladstone Investment from $13.00 to $13.50 and gave the stock a “neutral” rating in a research note on Monday, November 11th. StockNews.com raised Gladstone Investment from a “sell” rating to a “hold” rating in a research report on Monday, November 11th.

Gladstone Investment Stock Performance

Shares of GAIN opened at $13.97 on Friday. The company has a 50-day simple moving average of $13.31 and a 200-day simple moving average of $13.42. Gladstone Investment Co. has a 52 week low of $12.46 and a 52 week high of $14.85. The firm has a market capitalization of $512.56 million, a P/E ratio of 13.18 and a beta of 1.30.

Gladstone Investment (NASDAQ:GAIN) last posted its quarterly earnings results on Wednesday, February 12th. The investment management company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.01). Gladstone Investment had a net margin of 41.67% and a return on equity of 7.41%. As a group, equities analysts forecast that Gladstone Investment Co. will post 0.96 earnings per share for the current year.

Gladstone Investment Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 27th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, January 24th. This represents a yield of 7.18%. Gladstone Investment’s dividend payout ratio is currently 90.57%.

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.