Raymond James Financial Inc. Acquires New Stake in Gladstone Investment Co. (NASDAQ:GAIN)

Raymond James Financial Inc. bought a new position in shares of Gladstone Investment Co. (NASDAQ:GAIN) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 49,095 shares of the investment management company’s stock, valued at approximately $651,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Kentucky Trust Co acquired a new position in Gladstone Investment during the 4th quarter worth approximately $26,000. Cornerstone Wealth Management LLC bought a new stake in shares of Gladstone Investment in the fourth quarter worth $136,000. Centiva Capital LP acquired a new position in Gladstone Investment during the third quarter worth $192,000. Union Bancaire Privee UBP SA bought a new position in Gladstone Investment in the fourth quarter valued at $250,000. Finally, Jane Street Group LLC acquired a new stake in Gladstone Investment in the 3rd quarter valued at $253,000. Institutional investors and hedge funds own 11.85% of the company’s stock.

Gladstone Investment Price Performance

Gladstone Investment stock opened at $12.41 on Monday. The company has a market cap of $457.15 million, a price-to-earnings ratio of 6.46 and a beta of 1.12. The firm has a 50-day moving average of $13.50 and a 200-day moving average of $13.55. Gladstone Investment Co. has a one year low of $12.33 and a one year high of $14.85.

Gladstone Investment (NASDAQ:GAIN) last released its earnings results on Wednesday, February 12th. The investment management company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.01). Gladstone Investment had a return on equity of 7.17% and a net margin of 78.02%. As a group, sell-side analysts expect that Gladstone Investment Co. will post 0.96 earnings per share for the current year.

Gladstone Investment Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 27th were paid a $0.08 dividend. The ex-dividend date was Friday, January 24th. This represents a dividend yield of 7.18%. Gladstone Investment’s dividend payout ratio is presently 50.00%.

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.