Legacy Capital Wealth Partners LLC Trims Stock Position in Gladstone Investment Co. (NASDAQ:GAIN)

Legacy Capital Wealth Partners LLC cut its position in Gladstone Investment Co. (NASDAQ:GAIN) by 2.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,589 shares of the investment management company’s stock after selling 2,367 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Gladstone Investment were worth $1,439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Van ECK Associates Corp boosted its position in shares of 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 acquiring an additional 140,723 shares during the last quarter. International Assets Investment Management LLC grew its stake in Gladstone Investment by 1,345.0% in the 3rd quarter. International Assets Investment Management LLC now owns 31,646 shares of the investment management company’s stock worth $457,000 after buying an additional 29,456 shares in the last quarter. Virtu Financial LLC purchased a new position in Gladstone Investment in the 1st quarter worth approximately $198,000. Drive Wealth Management LLC bought a new position in shares of Gladstone Investment in the 2nd quarter worth $174,000. Finally, Advisors Asset Management Inc. raised its position in shares of Gladstone Investment by 6.6% during the 1st 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. 11.85% of the stock is owned by institutional investors.

Gladstone Investment Trading Down 3.0 %

Shares of NASDAQ:GAIN opened at $13.39 on Friday. Gladstone Investment Co. has a 12-month low of $12.46 and a 12-month high of $14.96. The stock’s 50-day moving average price is $13.61 and its 200-day moving average price is $13.75. The stock has a market capitalization of $491.28 million, a P/E ratio of 6.56 and a beta of 1.33.

Gladstone Investment Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 20th will be given a $0.08 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.96 annualized dividend and a yield of 7.17%. Gladstone Investment’s payout ratio is currently 47.06%.

Analyst Ratings Changes

A number of research analysts recently commented on GAIN shares. B. Riley reduced their target price on Gladstone Investment from $14.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. StockNews.com downgraded Gladstone Investment from a “hold” rating to a “sell” rating in a research report on Tuesday, October 15th.

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.