Sound Income Strategies LLC Sells 3,892 Shares of Gladstone Investment Co. (NASDAQ:GAIN)

Sound Income Strategies LLC decreased its stake in shares of Gladstone Investment Co. (NASDAQ:GAIN) by 14.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,871 shares of the investment management company’s stock after selling 3,892 shares during the quarter. Sound Income Strategies LLC’s holdings in Gladstone Investment were worth $334,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Signaturefd LLC lifted its stake in Gladstone Investment by 612.6% in the 4th quarter. Signaturefd LLC now owns 2,772 shares of the investment management company’s stock valued at $39,000 after purchasing an additional 2,383 shares during the last quarter. Northwest Financial Advisors bought a new stake in Gladstone Investment in the fourth quarter valued at approximately $57,000. Quarry LP acquired a new stake in shares of Gladstone Investment in the fourth quarter valued at approximately $84,000. Creekmur Asset Management LLC bought a new position in shares of Gladstone Investment during the 4th quarter worth approximately $105,000. Finally, Trexquant Investment LP acquired a new position in shares of Gladstone Investment during the 4th quarter worth approximately $151,000. Institutional investors own 11.85% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. LADENBURG THALM/SH SH reaffirmed a “neutral” rating and set a $14.00 price objective on shares of Gladstone Investment in a research report on Thursday, May 9th. B. Riley reduced their target price on shares of Gladstone Investment from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday.

Gladstone Investment Stock Performance

NASDAQ:GAIN traded up $0.17 during mid-day trading on Friday, hitting $12.90. 113,379 shares of the stock were exchanged, compared to its average volume of 139,572. The firm’s 50-day simple moving average is $13.91 and its 200 day simple moving average is $14.01. The stock has a market capitalization of $473.29 million, a price-to-earnings ratio of 5.20 and a beta of 1.32. Gladstone Investment Co. has a fifty-two week low of $12.14 and a fifty-two week high of $14.96.

Gladstone Investment (NASDAQ:GAIN) last released its quarterly earnings results on Monday, August 5th. The investment management company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.01). Gladstone Investment had a net margin of 97.71% and a return on equity of 7.33%. The business had revenue of $22.18 million during the quarter, compared to analyst estimates of $24.27 million. During the same quarter last year, the company posted $0.25 earnings per share. On average, analysts predict that Gladstone Investment Co. will post 1.01 EPS for the current fiscal year.

Gladstone Investment Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be paid a $0.08 dividend. This represents a $0.96 annualized dividend and a dividend yield of 7.44%. The ex-dividend date of this dividend is Friday, September 20th. Gladstone Investment’s dividend payout ratio (DPR) is currently 38.71%.

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.