Gladstone Investment Co. (NASDAQ:GAIN) Stake Lowered by Sound Income Strategies LLC

Sound Income Strategies LLC reduced its stake in shares of Gladstone Investment Co. (NASDAQ:GAIN) by 5.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,646 shares of the investment management company’s stock after selling 823 shares during the period. Sound Income Strategies LLC’s holdings in Gladstone Investment were worth $194,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of GAIN. Van ECK Associates Corp grew its holdings in shares of Gladstone Investment by 6.2% during the 3rd quarter. Van ECK Associates Corp now owns 897,668 shares of the investment management company’s stock valued at $12,496,000 after acquiring an additional 52,594 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Gladstone Investment by 1,345.0% in the 3rd quarter. International Assets Investment Management LLC now owns 31,646 shares of the investment management company’s stock valued at $457,000 after purchasing an additional 29,456 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Gladstone Investment in the 3rd quarter valued at $253,000. Advisors Asset Management Inc. lifted its stake in shares of Gladstone Investment by 12.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 159,421 shares of the investment management company’s stock valued at $2,304,000 after purchasing an additional 17,209 shares during the last quarter. Finally, Paloma Partners Management Co acquired a new stake in shares of Gladstone Investment in the 3rd quarter valued at $239,000. 11.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GAIN has been the subject of several analyst reports. B. Riley lifted their price objective on shares of Gladstone Investment from $13.00 to $13.50 and gave the company a “neutral” rating in a research note on Monday, November 11th. StockNews.com raised shares of Gladstone Investment from a “sell” rating to a “hold” rating in a research note on Monday, November 11th.

Gladstone Investment Price Performance

Gladstone Investment stock opened at $13.37 on Friday. The firm has a market cap of $490.55 million, a price-to-earnings ratio of 12.61 and a beta of 1.30. Gladstone Investment Co. has a fifty-two week low of $12.46 and a fifty-two week high of $14.85. The firm has a fifty day moving average price of $13.33 and a two-hundred day moving average price of $13.48.

Gladstone Investment (NASDAQ:GAIN) last released its earnings results on Thursday, November 7th. The investment management company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). The firm had revenue of $22.57 million for the quarter, compared to analyst estimates of $22.74 million. Gladstone Investment had a return on equity of 7.41% and a net margin of 41.67%. During the same period in the prior year, the firm earned $0.24 EPS. As a group, sell-side analysts expect that Gladstone Investment Co. will post 0.96 earnings per share for the current year.

Gladstone Investment Cuts Dividend

The company also recently announced a dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 27th will be given a dividend of $0.08 per share. This represents a yield of 7.18%. The ex-dividend date is Friday, January 24th. Gladstone Investment’s dividend payout ratio is 90.57%.

About Gladstone Investment

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.