Gladstone Investment (NASDAQ:GAIN) Price Target Raised to $13.50 at B. Riley

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

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

Gladstone Investment Price Performance

Shares of NASDAQ:GAIN opened at $13.52 on Monday. The firm’s 50 day simple moving average is $13.62 and its two-hundred day simple moving average is $13.75. Gladstone Investment has a 1-year low of $12.46 and a 1-year high of $14.96. The company has a market capitalization of $496.04 million, a P/E ratio of 12.75 and a beta of 1.33.

Gladstone Investment Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 20th will be paid 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 7.10%. Gladstone Investment’s dividend payout ratio (DPR) is presently 90.57%.

Institutional Investors Weigh In On Gladstone Investment

Large investors have recently modified their holdings of the company. Advisors Asset Management Inc. increased its position in shares of Gladstone Investment by 6.6% in the first quarter. Advisors Asset Management Inc. now owns 162,487 shares of the investment management company’s stock valued at $2,312,000 after buying an additional 10,018 shares in the last quarter. Garner Asset Management Corp increased its holdings in shares of Gladstone Investment by 9.1% in the 1st quarter. Garner Asset Management Corp now owns 41,333 shares of the investment management company’s stock valued at $588,000 after acquiring an additional 3,451 shares during the last quarter. Virtu Financial LLC acquired a new position in Gladstone Investment during the 1st quarter valued at approximately $198,000. Van ECK Associates Corp boosted its position 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 purchasing an additional 140,723 shares during the period. Finally, Drive Wealth Management LLC bought a new stake in shares of Gladstone Investment in the 2nd quarter worth $174,000. 11.85% of the stock is owned by institutional investors and hedge funds.

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.