Creative Planning increased its holdings in shares of Gladstone Investment Co. (NASDAQ:GAIN) by 101.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,105 shares of the investment management company’s stock after purchasing an additional 10,105 shares during the quarter. Creative Planning owned 0.06% of Gladstone Investment worth $230,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of GAIN. JPMorgan Chase & Co. lifted its holdings in Gladstone Investment by 353.7% in the 1st quarter. JPMorgan Chase & Co. now owns 89,187 shares of the investment management company’s stock valued at $901,000 after purchasing an additional 69,529 shares in the last quarter. Guggenheim Capital LLC purchased a new position in Gladstone Investment in the 1st quarter valued at about $191,000. Millennium Management LLC lifted its holdings in Gladstone Investment by 143.0% in 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 in the last quarter. Legal & General Group Plc lifted its holdings in Gladstone Investment by 18.0% in the 1st quarter. Legal & General Group Plc now owns 115,932 shares of the investment management company’s stock valued at $1,172,000 after purchasing an additional 17,652 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in 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 purchasing an additional 7,054 shares in the last quarter. 15.48% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have recently weighed in on GAIN. Zacks Investment Research lowered shares of Gladstone Investment from a “buy” rating to a “hold” rating in a report on Wednesday, August 22nd. BidaskClub lowered shares of Gladstone Investment from a “hold” rating to a “sell” rating in a report on Friday, September 14th. Finally, ValuEngine lowered shares of Gladstone Investment from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $12.00.
Shares of GAIN stock traded up $0.17 during trading hours on Monday, hitting $10.11. 296,600 shares of the company were exchanged, compared to its average volume of 176,803. The firm has a market cap of $326.26 million, a P/E ratio of 12.33 and a beta of 0.60. Gladstone Investment Co. has a 1 year low of $9.00 and a 1 year high of $12.26.
Gladstone Investment (NASDAQ:GAIN) last posted its earnings results on Monday, November 5th. The investment management company reported ($0.12) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.32). The business had revenue of $13.09 million for the quarter, compared to analyst estimates of $15.37 million. Gladstone Investment had a return on equity of 6.58% and a net margin of 168.91%. As a group, equities analysts expect that Gladstone Investment Co. will post 0.67 earnings per share for the current year.
The firm also recently announced a dividend, which will be paid on Friday, December 14th. Investors of record on Thursday, December 6th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, December 5th. Gladstone Investment’s dividend payout ratio (DPR) is presently 100.00%.
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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