Gladstone Investment Co. (NASDAQ:GAIN – Get Rating) was the target of significant short-term interest growth in May. As of May 31, there was short interest totaling 376,800 shares, up 48.1% from the May 15 total of 254,400 shares. Based on an average daily trading volume of 109,600 shares, the day-to-cover ratio is currently 3.4 days. About 1.2% of the stock’s shares are sold short.
Separately, StockNews.com downgraded Gladstone Investment from a “buy” rating to a “hold” rating in a Wednesday, May 18 research rating.
NASDAQ: GAIN was down $0.50 during Tuesday trading hours, hitting $12.96. The company’s stock had a trading volume of 8,401 shares, compared to an average volume of 109,679. The stock has a 50-day moving average price of $15.40 and a two-hundred-day moving average price of 15 $.77. The company has a market capitalization of $430.40 million, a P/E ratio of 4.37 and a beta of 1.48. Gladstone Investment has a 12-month low of $13.35 and a 12-month high of $17.15.
Gladstone Investment (NASDAQ:GAIN – Get Rating) last released its quarterly results on Wednesday, May 11. The investment management firm reported earnings per share (EPS) of $0.20 for the quarter, missing analyst consensus estimates of $0.23 per ($0.03). The company posted revenue of $19.25 million for the quarter, versus analyst estimates of $16.61 million. Gladstone Investment had a return on equity of 7.02% and a net margin of 141.02%. On average, analysts expect Gladstone Investment to post EPS of 0.91 for the current financial year.
The company also recently announced a dividend, which will be paid on Wednesday, June 15. Shareholders of record on Monday, June 6 will receive a dividend of $0.12. The ex-dividend date is Friday, June 3. Gladstone Investment’s dividend payout ratio (DPR) is currently 29.22%.
Several institutional investors and hedge funds have recently increased or reduced their stake in GAIN. Lazard Asset Management LLC acquired a new stake in Gladstone Investment in Q1 worth approximately $30,000. Bank of America Corp DE increased its stake in Gladstone Investment by 100.9% in Q2. Bank of America Corp DE now owns 3,485 shares of the investment management company valued at $50,000 after acquiring 1,750 additional shares in the last quarter. Hardy Reed LLC purchased a new equity stake from Gladstone Investment in Q1 worth approximately $112,000. Millennium Management LLC purchased a new equity stake from Gladstone Investment in Q2, valued at approximately $146,000. Finally, BNP Paribas Arbitrage SA increased its stake in Gladstone Investment shares by 1,826.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 9,634 shares in the investment management company valued at $155,000 after purchasing an additional 9,134 shares during the period. Hedge funds and other institutional investors own 11.75% of the company’s shares.
About Gladstone Investments (Get an assessment)
Gladstone Investment Corporation specializes in lower middle market, maturity stage, buyouts; refinance 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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