Gladstone Investment Co. (NASDAQ:GAIN) CEO David Gladstone acquired 5,000 shares of the company’s stock in a transaction on Monday, March 13th. The stock was purchased at an average cost of $8.70 per share, for a total transaction of $43,500.00. Following the completion of the transaction, the chief executive officer now owns 621,973 shares in the company, valued at approximately $5,411,165.10. The purchase was disclosed in a document filed with the SEC, which is available at this link.
Shares of Gladstone Investment Co. (NASDAQ:GAIN) traded down 1.10% during midday trading on Monday, hitting $9.00. 15,315 shares of the company’s stock were exchanged. Gladstone Investment Co. has a 1-year low of $6.65 and a 1-year high of $9.36. The stock’s 50 day moving average is $9.02 and its 200-day moving average is $8.68.
Gladstone Investment (NASDAQ:GAIN) last issued its quarterly earnings results on Monday, February 6th. The investment management company reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.01. Gladstone Investment had a net margin of 111.65% and a return on equity of 7.55%. On average, equities analysts expect that Gladstone Investment Co. will post $0.89 earnings per share for the current year.
The firm also recently declared a monthly dividend, which was paid on Tuesday, February 28th. Shareholders of record on Thursday, February 16th were issued a $0.0625 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 8.24%. The ex-dividend date was Tuesday, February 14th. Gladstone Investment’s payout ratio is 38.66%.
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Large investors have recently modified their holdings of the stock. Citadel Advisors LLC acquired a new stake in shares of Gladstone Investment during the third quarter worth $397,000. Advisors Asset Management Inc. increased its stake in shares of Gladstone Investment by 22.4% in the third quarter. Advisors Asset Management Inc. now owns 658,627 shares of the investment management company’s stock worth $5,855,000 after buying an additional 120,703 shares during the last quarter. Acrospire Investment Management LLC acquired a new stake in shares of Gladstone Investment during the third quarter worth $110,000. Outfitter Advisors LTD. increased its stake in shares of Gladstone Investment by 50.4% in the third quarter. Outfitter Advisors LTD. now owns 246,615 shares of the investment management company’s stock worth $2,192,000 after buying an additional 82,600 shares during the last quarter. Finally, Nuveen Fund Advisors LLC increased its stake in shares of Gladstone Investment by 8.5% in the third quarter. Nuveen Fund Advisors LLC now owns 132,503 shares of the investment management company’s stock worth $1,178,000 after buying an additional 10,436 shares during the last quarter. 19.39% of the stock is owned by institutional investors.
Separately, Zacks Investment Research downgraded shares of Gladstone Investment from a “hold” rating to a “sell” rating in a research report on Wednesday, February 8th.
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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