Gladstone Investment (NASDAQ:GAIN) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Gladstone Investment Co. (NASDAQ:GAIN) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $13.78 and traded as high as $13.87. Gladstone Investment shares last traded at $13.76, with a volume of 88,094 shares trading hands.

Analysts Set New Price Targets

A number of research analysts recently weighed in on GAIN shares. B. Riley dropped their price target on Gladstone Investment from $14.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. StockNews.com downgraded Gladstone Investment from a “hold” rating to a “sell” rating in a research note on Tuesday, October 15th.

Gladstone Investment Stock Down 1.1 %

The firm has a market cap of $494.95 million, a PE ratio of 6.72 and a beta of 1.33. The company has a 50-day simple moving average of $13.53 and a two-hundred day simple moving average of $13.78.

Gladstone Investment (NASDAQ:GAIN) last released its earnings results on Monday, August 5th. The investment management company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). The company had revenue of $22.18 million during the quarter, compared to analysts’ expectations of $24.27 million. Gladstone Investment had a net margin of 78.48% and a return on equity of 7.20%. During the same quarter in the previous year, the firm earned $0.25 earnings per share. As a group, equities analysts predict that Gladstone Investment Co. will post 1 earnings per share for the current year.

Gladstone Investment Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, December 20th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 7.12%. Gladstone Investment’s dividend payout ratio is presently 47.06%.

Institutional Investors Weigh In On Gladstone Investment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its position in shares of Gladstone Investment by 20.0% during the second quarter. Van ECK Associates Corp now owns 845,074 shares of the investment management company’s stock worth $11,814,000 after acquiring an additional 140,723 shares in the last quarter. Legacy Capital Wealth Partners LLC purchased a new stake in Gladstone Investment during the 2nd quarter worth about $1,425,000. International Assets Investment Management LLC boosted its stake in Gladstone Investment by 1,345.0% in the 3rd quarter. International Assets Investment Management LLC now owns 31,646 shares of the investment management company’s stock worth $457,000 after purchasing an additional 29,456 shares during the period. Virtu Financial LLC purchased a new position in Gladstone Investment during the 1st quarter valued at about $198,000. Finally, Drive Wealth Management LLC bought a new stake in shares of Gladstone Investment during the second quarter valued at about $174,000. 11.85% of the stock is currently owned by institutional investors.

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.