Archford Capital Strategies LLC lessened its stake in shares of Gladstone Investment Co. (NASDAQ:GAIN) by 15.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 43,779 shares of the investment management company’s stock after selling 8,000 shares during the period. Archford Capital Strategies LLC’s holdings in Gladstone Investment were worth $489,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the company. LPL Financial LLC lifted its position in shares of Gladstone Investment by 347.6% during the 4th quarter. LPL Financial LLC now owns 69,349 shares of the investment management company’s stock valued at $774,000 after acquiring an additional 53,856 shares during the last quarter. Millennium Management LLC lifted its position in shares of Gladstone Investment by 228.0% during the 4th quarter. Millennium Management LLC now owns 105,456 shares of the investment management company’s stock valued at $1,177,000 after acquiring an additional 73,303 shares during the last quarter. Stockman Wealth Management Inc. acquired a new stake in shares of Gladstone Investment during the 4th quarter valued at $269,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Gladstone Investment during the 4th quarter valued at $678,000. Finally, BlackRock Inc. lifted its position in shares of Gladstone Investment by 9.0% during the 4th quarter. BlackRock Inc. now owns 208,736 shares of the investment management company’s stock valued at $2,329,000 after acquiring an additional 17,156 shares during the last quarter. Institutional investors own 16.79% of the company’s stock.
A number of brokerages have recently commented on GAIN. BidaskClub upgraded Gladstone Investment from a “sell” rating to a “hold” rating in a research report on Friday, March 9th. Zacks Investment Research upgraded Gladstone Investment from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Monday, March 5th. Wedbush upgraded Gladstone Investment from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $9.56 to $11.00 in a research report on Tuesday, March 6th. ValuEngine upgraded Gladstone Investment from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 1st. Finally, Ladenburg Thalmann Financial Services upgraded Gladstone Investment from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 7th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $10.67.
In other Gladstone Investment news, President David A. R. Dullum bought 5,000 shares of Gladstone Investment stock in a transaction dated Monday, March 5th. The stock was bought at an average price of $9.56 per share, for a total transaction of $47,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.40% of the stock is owned by corporate insiders.
Shares of GAIN stock opened at $10.42 on Wednesday. The stock has a market capitalization of $338.60, a price-to-earnings ratio of 6.86 and a beta of 0.52. Gladstone Investment Co. has a 1-year low of $8.63 and a 1-year high of $11.50.
Gladstone Investment (NASDAQ:GAIN) last released its earnings results on Tuesday, February 6th. The investment management company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.05. The company had revenue of $16.18 million during the quarter, compared to analyst estimates of $13.42 million. Gladstone Investment had a return on equity of 7.46% and a net margin of 87.19%. sell-side analysts forecast that Gladstone Investment Co. will post 0.77 earnings per share for the current fiscal year.
The firm also recently announced a monthly dividend, which will be paid on Friday, March 30th. Stockholders 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 dividend yield of 7.49%. Gladstone Investment’s payout ratio is currently 51.32%.
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Gladstone Investment Profile
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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