Gladstone Investment Co. (NASDAQ:GAIN) was the target of a significant decrease in short interest in November. As of November 30th, there was short interest totalling 270,000 shares, a decrease of 23.3% from the November 15th total of 351,800 shares. Based on an average daily volume of 112,900 shares, the short-interest ratio is presently 2.4 days. Currently, 0.8% of the shares of the stock are short sold.
In other Gladstone Investment news, President David A. R. Dullum acquired 3,000 shares of the firm’s stock in a transaction that occurred on Friday, December 3rd. The shares were purchased at an average cost of $16.54 per share, for a total transaction of $49,620.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.61% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in GAIN. Morgan Stanley raised its stake in shares of Gladstone Investment by 38.2% in the first quarter. Morgan Stanley now owns 148,446 shares of the investment management company’s stock valued at $1,816,000 after acquiring an additional 41,067 shares in the last quarter. Belpointe Asset Management LLC raised its stake in shares of Gladstone Investment by 14.3% in the second quarter. Belpointe Asset Management LLC now owns 32,578 shares of the investment management company’s stock valued at $469,000 after acquiring an additional 4,080 shares in the last quarter. Virtus ETF Advisers LLC raised its stake in shares of Gladstone Investment by 16.0% in the second quarter. Virtus ETF Advisers LLC now owns 36,950 shares of the investment management company’s stock valued at $532,000 after acquiring an additional 5,100 shares in the last quarter. Deutsche Bank AG acquired a new stake in shares of Gladstone Investment in the second quarter valued at $61,000. Finally, Mackenzie Financial Corp raised its stake in shares of Gladstone Investment by 115.7% in the second quarter. Mackenzie Financial Corp now owns 83,441 shares of the investment management company’s stock valued at $1,202,000 after acquiring an additional 44,757 shares in the last quarter. Institutional investors and hedge funds own 12.45% of the company’s stock.
NASDAQ:GAIN traded up $0.05 during trading hours on Friday, reaching $16.45. 162,627 shares of the stock were exchanged, compared to its average volume of 138,228. The business has a 50-day moving average of $15.86 and a two-hundred day moving average of $14.97. Gladstone Investment has a twelve month low of $9.71 and a twelve month high of $17.10. The company has a market capitalization of $546.22 million, a price-to-earnings ratio of 4.91, a PEG ratio of 5.94 and a beta of 1.57.
Gladstone Investment (NASDAQ:GAIN) last released its quarterly earnings results on Monday, November 1st. The investment management company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.12). Gladstone Investment had a return on equity of 7.51% and a net margin of 157.21%. The firm had revenue of $18.54 million for the quarter, compared to analyst estimates of $16.23 million. During the same quarter last year, the company earned $0.15 earnings per share. As a group, analysts forecast that Gladstone Investment will post 0.93 earnings per share for the current fiscal year.
The company also recently declared a dividend, which was paid on Wednesday, December 15th. Shareholders of record on Tuesday, December 7th were paid a dividend of $0.09 per share. This is a boost from Gladstone Investment’s previous dividend of $0.03. The ex-dividend date was Monday, December 6th. Gladstone Investment’s dividend payout ratio is 26.87%.
Separately, Zacks Investment Research cut Gladstone Investment from a “buy” rating to a “hold” rating in a report on Monday, November 8th.
About Gladstone Investment
Gladstone Investment is a publicly traded business development company that seeks to make equity and secured debt investments.
See Also: Return on Equity (ROE)
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