Van ECK Associates Corp Has $10.02 Million Position in Gladstone Investment Co. (NASDAQ:GAIN)

Van ECK Associates Corp increased its holdings in Gladstone Investment Co. (NASDAQ:GAIN) by 13.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 704,351 shares of the investment management company’s stock after purchasing an additional 85,791 shares during the period. Van ECK Associates Corp’s holdings in Gladstone Investment were worth $10,023,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Melia Wealth LLC acquired a new position in shares of Gladstone Investment in the 1st quarter worth approximately $13,455,000. International Assets Investment Management LLC bought a new stake in Gladstone Investment in the fourth quarter valued at $2,040,000. United Advisor Group LLC acquired a new position in Gladstone Investment during the fourth quarter worth $502,000. Sound Income Strategies LLC acquired a new stake in shares of Gladstone Investment in the 4th quarter valued at $440,000. Finally, Raymond James & Associates boosted its stake in shares of Gladstone Investment by 80.8% in the 4th quarter. Raymond James & Associates now owns 49,600 shares of the investment management company’s stock valued at $702,000 after purchasing an additional 22,173 shares in the last quarter. Institutional investors own 11.85% of the company’s stock.

Gladstone Investment Stock Performance

GAIN traded down $0.06 during midday trading on Friday, hitting $14.08. The company had a trading volume of 77,786 shares, compared to its average volume of 142,426. Gladstone Investment Co. has a twelve month low of $12.14 and a twelve month high of $14.96. The company has a market capitalization of $516.60 million, a PE ratio of 5.70 and a beta of 1.32. The firm’s 50-day simple moving average is $14.07 and its 200-day simple moving average is $14.13.

Gladstone Investment (NASDAQ:GAIN) last issued its quarterly earnings results on Wednesday, May 8th. The investment management company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.02). The company had revenue of $23.65 million during the quarter, compared to analyst estimates of $22.94 million. Gladstone Investment had a net margin of 97.71% and a return on equity of 7.33%. As a group, sell-side analysts anticipate that Gladstone Investment Co. will post 1.01 EPS for the current fiscal year.

Gladstone Investment Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, June 28th. Investors of record on Wednesday, June 19th were issued a $0.08 dividend. The ex-dividend date was Tuesday, June 18th. This represents a $0.96 annualized dividend and a yield of 6.82%. Gladstone Investment’s dividend payout ratio is currently 38.71%.

Analysts Set New Price Targets

GAIN has been the topic of a number of recent analyst reports. LADENBURG THALM/SH SH restated a “neutral” rating and issued a $14.00 price target on shares of Gladstone Investment in a research report on Thursday, May 9th. B. Riley reissued a “neutral” rating and issued a $14.00 price objective (up previously from $13.50) on shares of Gladstone Investment in a research note on Friday, May 10th.

Gladstone Investment Profile

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.