Gladstone Investment (NASDAQ:GAIN) Shares Cross Above 200-Day Moving Average - Here's Why

Gladstone Investment Co. (NASDAQ:GAIN - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $13.78 and traded as high as $13.87. Gladstone Investment shares last traded at $13.76, with a volume of 88,094 shares traded.

Analysts Set New Price Targets

Several research firms recently commented on GAIN. B. Riley reduced their price objective on Gladstone Investment from $14.00 to $13.00 and set a "neutral" rating for the company in a research note on Wednesday, August 7th. StockNews.com cut shares of Gladstone Investment from a "hold" rating to a "sell" rating in a research note on Tuesday, October 15th.

Gladstone Investment Stock Performance

The business has a 50 day simple moving average of $13.52 and a 200-day simple moving average of $13.78. The firm has a market capitalization of $500.44 million, a price-to-earnings ratio of 5.54 and a beta of 1.33.

Gladstone Investment (NASDAQ:GAIN - Get Free Report) last posted its quarterly earnings results on Monday, August 5th. The investment management company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.01). The firm had revenue of $22.18 million during the quarter, compared to analysts' expectations of $24.27 million. Gladstone Investment had a net margin of 78.48% and a return on equity of 7.20%. During the same period last year, the company earned $0.25 EPS. Equities analysts predict that Gladstone Investment Co. will post 1 earnings per share for the current fiscal year.

Gladstone Investment Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 20th will be given a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 7.04%. The ex-dividend date is Friday, December 20th. Gladstone Investment's payout ratio is 38.71%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp lifted its holdings in shares of Gladstone Investment by 13.9% in the 1st quarter. Van ECK Associates Corp now owns 704,351 shares of the investment management company's stock worth $10,023,000 after acquiring an additional 85,791 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Gladstone Investment by 6.6% in the 1st quarter. Advisors Asset Management Inc. now owns 162,487 shares of the investment management company's stock valued at $2,312,000 after buying an additional 10,018 shares during the period. Garner Asset Management Corp lifted its stake in Gladstone Investment by 9.1% during the 1st quarter. Garner Asset Management Corp now owns 41,333 shares of the investment management company's stock worth $588,000 after acquiring an additional 3,451 shares in the last quarter. Virtu Financial LLC purchased a new position in Gladstone Investment during the 1st quarter valued at about $198,000. Finally, Drive Wealth Management LLC purchased a new stake in Gladstone Investment during the second quarter worth about $174,000. Hedge funds and other institutional investors own 11.85% of the company's stock.

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.