Gladstone Investment (NASDAQ:GAIN) Shares Pass Above Two Hundred Day Moving Average of $14.18

Gladstone Investment Co. (NASDAQ:GAIN)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $14.18 and traded as high as $14.59. Gladstone Investment shares last traded at $14.53, with a volume of 138,831 shares.

Separately, Zacks Investment Research cut shares of Gladstone Investment from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 6th.

The business’s 50 day moving average price is $14.46 and its 200-day moving average price is $14.18. The company has a market cap of $482.47 million, a price-to-earnings ratio of 5.38, a PEG ratio of 5.52 and a beta of 1.55.

Gladstone Investment (NASDAQ:GAIN) last posted its earnings results on Sunday, August 1st. The investment management company reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.26). Gladstone Investment had a return on equity of 7.19% and a net margin of 140.05%. The firm had revenue of $18.03 million during the quarter, compared to the consensus estimate of $14.83 million. On average, equities research analysts forecast that Gladstone Investment Co. will post 0.87 earnings per share for the current year.

The firm also recently announced a monthly dividend, which was paid on Thursday, September 30th. Stockholders of record on Wednesday, September 22nd were paid a $0.07 dividend. This represents a $0.84 annualized dividend and a dividend yield of 5.78%. The ex-dividend date of this dividend was Tuesday, September 21st. Gladstone Investment’s dividend payout ratio (DPR) is presently 121.74%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE raised its position in shares of Gladstone Investment by 100.9% in the 2nd quarter. Bank of America Corp DE now owns 3,485 shares of the investment management company’s stock valued at $50,000 after acquiring an additional 1,750 shares during the period. Deutsche Bank AG bought a new position in shares of Gladstone Investment during the 2nd quarter worth approximately $61,000. Advisory Services Network LLC bought a new position in shares of Gladstone Investment during the 2nd quarter worth approximately $99,000. Millennium Management LLC bought a new position in shares of Gladstone Investment during the 2nd quarter worth approximately $146,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of Gladstone Investment in the first quarter valued at $181,000. 12.23% of the stock is currently owned by institutional investors.

About Gladstone Investment (NASDAQ:GAIN)

Gladstone Investment is a publicly traded business development company that seeks to make equity and secured debt investments.

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