Van ECK Associates Corp Buys 52,594 Shares of Gladstone Investment Co. (NASDAQ:GAIN)

Van ECK Associates Corp raised its position in Gladstone Investment Co. (NASDAQ:GAIN - Free Report) by 6.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 897,668 shares of the investment management company's stock after acquiring an additional 52,594 shares during the quarter. Van ECK Associates Corp owned approximately 2.45% of Gladstone Investment worth $12,496,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Drive Wealth Management LLC bought a new position in shares of Gladstone Investment in the 2nd quarter worth about $174,000. Virtu Financial LLC purchased a new position in Gladstone Investment in the 1st quarter worth approximately $198,000. Private Advisor Group LLC lifted its holdings in shares of Gladstone Investment by 6.9% in the 3rd quarter. Private Advisor Group LLC now owns 24,801 shares of the investment management company's stock worth $358,000 after acquiring an additional 1,609 shares during the last quarter. International Assets Investment Management LLC grew its position 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 worth $457,000 after buying an additional 29,456 shares during the last quarter. Finally, Garner Asset Management Corp boosted its stake in Gladstone Investment by 9.1% during the first 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. 11.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. StockNews.com lowered Gladstone Investment from a "hold" rating to a "sell" rating in a research note on Tuesday, October 15th. B. Riley lowered their price target on shares of Gladstone Investment from $14.00 to $13.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 7th.

Gladstone Investment Stock Performance

Gladstone Investment stock traded up $0.21 during trading on Wednesday, reaching $13.61. The company had a trading volume of 113,265 shares, compared to its average volume of 148,471. The firm has a market capitalization of $499.35 million, a price-to-earnings ratio of 6.57 and a beta of 1.33. Gladstone Investment Co. has a 12-month low of $12.46 and a 12-month high of $14.96. The stock's 50 day moving average price is $13.56 and its two-hundred day moving average price is $13.76.

Gladstone Investment (NASDAQ:GAIN - Get Free Report) last announced its quarterly earnings data on Monday, August 5th. The investment management company reported $0.24 EPS for the quarter, missing analysts' consensus estimates of $0.25 by ($0.01). Gladstone Investment had a net margin of 78.48% and a return on equity of 7.20%. The company had revenue of $22.18 million for the quarter, compared to analyst estimates of $24.27 million. During the same quarter last year, the company posted $0.25 EPS. As a group, research analysts expect that Gladstone Investment Co. will post 1 earnings per share for the current year.

Gladstone Investment Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 20th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, December 20th. This represents a $0.96 dividend on an annualized basis and a yield of 7.05%. Gladstone Investment's dividend payout ratio is 47.06%.

Gladstone Investment Company Profile

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.