B. Riley Issues Positive Forecast for Gladstone Investment (NASDAQ:GAIN) Stock Price

Gladstone Investment (NASDAQ:GAIN) had its price target lifted by B. Riley from $13.00 to $13.50 in a research report released on Monday morning,Benzinga reports. B. Riley currently has a neutral rating on the investment management company’s stock.

Separately, StockNews.com lowered Gladstone Investment from a “hold” rating to a “sell” rating in a report on Tuesday, October 15th.

Gladstone Investment Stock Performance

Shares of GAIN opened at $13.52 on Monday. The stock has a fifty day moving average price of $13.62 and a two-hundred day moving average price of $13.75. The company has a market cap of $496.04 million, a price-to-earnings ratio of 12.75 and a beta of 1.33. Gladstone Investment has a 52-week low of $12.46 and a 52-week high of $14.96.

Gladstone Investment Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be paid a $0.08 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.96 annualized dividend and a dividend yield of 7.10%. Gladstone Investment’s dividend payout ratio is presently 90.57%.

Hedge Funds Weigh In On Gladstone Investment

Several large investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. lifted its position in shares of Gladstone Investment by 6.6% during the 1st quarter. Advisors Asset Management Inc. now owns 162,487 shares of the investment management company’s stock worth $2,312,000 after buying an additional 10,018 shares in the last quarter. Garner Asset Management Corp lifted its position in shares of 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. Virtu Financial LLC bought a new position in Gladstone Investment in the 1st quarter worth about $198,000. Van ECK Associates Corp grew its holdings in Gladstone Investment by 20.0% during the 2nd quarter. Van ECK Associates Corp now owns 845,074 shares of the investment management company’s stock valued at $11,814,000 after buying an additional 140,723 shares in the last quarter. Finally, Drive Wealth Management LLC purchased a new position in Gladstone Investment during the 2nd quarter valued at about $174,000. Institutional investors own 11.85% of the company’s stock.

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.