Virtus Investment Advisers LLC Sells 33,003 Shares of Gladstone Investment Corporation $GAIN

Virtus Investment Advisers LLC lowered its holdings in shares of Gladstone Investment Corporation (NASDAQ:GAIN - Free Report) by 38.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,768 shares of the investment management company's stock after selling 33,003 shares during the quarter. Virtus Investment Advisers LLC owned 0.15% of Gladstone Investment worth $767,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. First Horizon Advisors Inc. acquired a new position in shares of Gladstone Investment in the second quarter valued at approximately $32,000. Northwestern Mutual Wealth Management Co. boosted its stake in Gladstone Investment by 37,400.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,000 shares of the investment management company's stock worth $40,000 after purchasing an additional 2,992 shares during the period. Allworth Financial LP increased its holdings in Gladstone Investment by 38,592.3% during the 2nd quarter. Allworth Financial LP now owns 5,030 shares of the investment management company's stock worth $72,000 after purchasing an additional 5,017 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Gladstone Investment by 960.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,304 shares of the investment management company's stock valued at $76,000 after purchasing an additional 4,804 shares during the period. Finally, Geneos Wealth Management Inc. acquired a new stake in shares of Gladstone Investment in the 1st quarter valued at about $113,000. 11.85% of the stock is currently owned by institutional investors and hedge funds.

Gladstone Investment Stock Performance

NASDAQ:GAIN opened at $14.02 on Friday. Gladstone Investment Corporation has a 52-week low of $11.42 and a 52-week high of $15.34. The company has a market cap of $555.84 million, a P/E ratio of 6.46 and a beta of 0.91. The stock's 50-day simple moving average is $13.83 and its 200 day simple moving average is $14.09.

Gladstone Investment (NASDAQ:GAIN - Get Free Report) last issued its quarterly earnings results on Tuesday, November 4th. The investment management company reported $0.24 EPS for the quarter, meeting the consensus estimate of $0.24. The firm had revenue of $25.28 million during the quarter, compared to analysts' expectations of $24.58 million. Gladstone Investment had a return on equity of 7.33% and a net margin of 83.78%. As a group, equities analysts predict that Gladstone Investment Corporation will post 0.96 earnings per share for the current fiscal year.

Gladstone Investment Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 22nd will be issued a dividend of $0.08 per share. This represents a c) dividend on an annualized basis and a yield of 6.8%. The ex-dividend date is Monday, December 22nd. Gladstone Investment's payout ratio is presently 38.40%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Wall Street Zen cut Gladstone Investment from a "hold" rating to a "sell" rating in a research report on Saturday, November 8th. Zacks Research cut Gladstone Investment from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Gladstone Investment in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold".

Read Our Latest Research Report on GAIN

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.

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