LSV Asset Management cut its holdings in shares of Gladstone Investment Co. (NASDAQ:GAIN) by 17.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 376,300 shares of the investment management company’s stock after selling 79,100 shares during the period. LSV Asset Management owned 1.15% of Gladstone Investment worth $4,301,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the business. Millennium Management LLC lifted its position in Gladstone Investment by 143.0% during the 1st quarter. Millennium Management LLC now owns 256,230 shares of the investment management company’s stock valued at $2,588,000 after purchasing an additional 150,774 shares during the period. Van ECK Associates Corp raised its position in shares of Gladstone Investment by 2.6% in the 2nd quarter. Van ECK Associates Corp now owns 246,616 shares of the investment management company’s stock valued at $2,903,000 after acquiring an additional 6,266 shares during the period. Legal & General Group Plc raised its position in shares of Gladstone Investment by 4.2% in the 2nd quarter. Legal & General Group Plc now owns 120,821 shares of the investment management company’s stock valued at $1,423,000 after acquiring an additional 4,889 shares during the period. Sumitomo Mitsui Asset Management Company LTD acquired a new stake in shares of Gladstone Investment in the 3rd quarter valued at approximately $530,000. Finally, Royal Bank of Canada raised its position in shares of Gladstone Investment by 24.1% in the 1st quarter. Royal Bank of Canada now owns 36,272 shares of the investment management company’s stock valued at $366,000 after acquiring an additional 7,054 shares during the period. Institutional investors own 14.53% of the company’s stock.
In other Gladstone Investment news, President David A. R. Dullum bought 5,600 shares of the stock in a transaction that occurred on Thursday, November 8th. The stock was acquired at an average cost of $9.94 per share, with a total value of $55,664.00. Following the purchase, the president now owns 91,816 shares in the company, valued at $912,651.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.51% of the company’s stock.
Gladstone Investment (NASDAQ:GAIN) last announced its quarterly earnings results on Monday, November 5th. The investment management company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.32). The firm had revenue of $13.09 million during the quarter, compared to analyst estimates of $15.37 million. Gladstone Investment had a net margin of 168.91% and a return on equity of 6.58%. Research analysts predict that Gladstone Investment Co. will post 0.67 earnings per share for the current fiscal year.
The company also recently declared a dividend, which will be paid on Friday, December 14th. Investors of record on Thursday, December 6th will be given a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, December 5th. Gladstone Investment’s dividend payout ratio is 100.00%.
A number of analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Gladstone Investment from a “hold” rating to a “sell” rating in a research report on Friday, November 9th. ValuEngine downgraded shares of Gladstone Investment from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Finally, BidaskClub upgraded shares of Gladstone Investment from a “strong sell” rating to a “sell” rating in a research report on Tuesday, November 13th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $12.00.
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Gladstone Investment Company Profile
Gladstone Investment Corporation is a private equity fund specializing in lower middle market, acquisitions, mature stage, buyouts; recapitalizations; 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.
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