Commonwealth Equity Services LLC raised its stake in Gladstone Investment Co. (NASDAQ:GAIN – Get Rating) by 5.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,397 shares of the investment management company’s stock after acquiring an additional 2,314 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.13% of Gladstone Investment worth $560,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC purchased a new stake in shares of Gladstone Investment during the 1st quarter valued at approximately $30,000. JPMorgan Chase & Co. purchased a new stake in shares of Gladstone Investment during the 2nd quarter valued at approximately $49,000. Jump Financial LLC purchased a new stake in shares of Gladstone Investment during the 3rd quarter valued at approximately $133,000. Kestra Advisory Services LLC lifted its stake in shares of Gladstone Investment by 8.7% during the 3rd quarter. Kestra Advisory Services LLC now owns 12,533 shares of the investment management company’s stock valued at $152,000 after buying an additional 1,000 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its holdings in Gladstone Investment by 1,826.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 9,634 shares of the investment management company’s stock worth $155,000 after acquiring an additional 9,134 shares during the period. 12.14% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Gladstone Investment
In other news, President David A. R. Dullum purchased 3,000 shares of the company’s stock in a transaction on Tuesday, March 14th. The stock was acquired at an average price of $12.84 per share, with a total value of $38,520.00. Following the transaction, the president now directly owns 144,916 shares of the company’s stock, valued at approximately $1,860,721.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.
Gladstone Investment Stock Performance
GAIN stock opened at $13.01 on Friday. Gladstone Investment Co. has a 52 week low of $11.40 and a 52 week high of $15.86. The firm’s fifty day moving average is $13.21 and its 200 day moving average is $13.44. The firm has a market cap of $437.01 million, a P/E ratio of 9.93 and a beta of 1.43.
Gladstone Investment Cuts Dividend
The company also recently declared a dividend, which will be paid on Wednesday, May 31st. Shareholders of record on Tuesday, May 23rd will be given a dividend of $0.08 per share. The ex-dividend date is Monday, May 22nd. This represents a yield of 7.08%. Gladstone Investment’s payout ratio is currently 73.28%.
Analyst Ratings Changes
A number of equities analysts have recently commented on the stock. TheStreet raised shares of Gladstone Investment from a “c+” rating to a “b” rating in a report on Monday, February 6th. StockNews.com initiated coverage on shares of Gladstone Investment in a report on Thursday, May 18th. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.17.
About Gladstone Investment
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Gladstone Investment is a publicly traded business development company that seeks to make equity and secured debt investments.
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