Advisors Asset Management Inc. Acquires 17,209 Shares of Gladstone Investment Co. (NASDAQ:GAIN)

Advisors Asset Management Inc. grew its holdings in Gladstone Investment Co. (NASDAQ:GAIN) by 12.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 159,421 shares of the investment management company’s stock after purchasing an additional 17,209 shares during the period. Advisors Asset Management Inc. owned approximately 0.43% of Gladstone Investment worth $2,304,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Drive Wealth Management LLC bought a new stake in Gladstone Investment during the 2nd quarter valued at $174,000. Virtu Financial LLC bought a new stake in shares of Gladstone Investment during the 1st quarter valued at $198,000. Private Advisor Group LLC raised its stake in shares of Gladstone Investment by 6.9% during the 3rd quarter. Private Advisor Group LLC now owns 24,801 shares of the investment management company’s stock valued at $358,000 after purchasing an additional 1,609 shares during the period. International Assets Investment Management LLC lifted its holdings in Gladstone Investment by 1,345.0% during the 3rd quarter. International Assets Investment Management LLC now owns 31,646 shares of the investment management company’s stock worth $457,000 after purchasing an additional 29,456 shares in the last quarter. Finally, Garner Asset Management Corp boosted its stake in 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 worth $588,000 after purchasing an additional 3,451 shares during the period. Institutional investors own 11.85% of the company’s stock.

Gladstone Investment Trading Down 1.0 %

Shares of GAIN opened at $13.37 on Monday. Gladstone Investment Co. has a 12-month low of $12.46 and a 12-month high of $14.96. The company has a market cap of $490.55 million, a PE ratio of 12.61 and a beta of 1.33. The stock has a 50-day moving average price of $13.79 and a 200-day moving average price of $13.71.

Gladstone Investment Dividend Announcement

The business 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 $0.08 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.96 dividend on an annualized basis and a yield of 7.18%. Gladstone Investment’s dividend payout ratio is presently 90.57%.

Analyst Ratings Changes

GAIN has been the topic of a number of recent analyst reports. StockNews.com raised shares of Gladstone Investment from a “sell” rating to a “hold” rating in a report on Monday, November 11th. B. Riley increased their target price on shares of Gladstone Investment from $13.00 to $13.50 and gave the stock a “neutral” rating in a research note on Monday, November 11th.

Gladstone Investment 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.