Mackenzie Financial Corp Sells 30,660 Shares of Gladstone Investment Co. (NASDAQ:GAIN)

Mackenzie Financial Corp lessened its stake in shares of Gladstone Investment Co. (NASDAQ:GAINGet Rating) by 37.6% in the 2nd quarter, Holdings Channel reports. The firm owned 50,962 shares of the investment management company’s stock after selling 30,660 shares during the period. Mackenzie Financial Corp’s holdings in Gladstone Investment were worth $718,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Castle Rock Wealth Management LLC boosted its holdings in shares of Gladstone Investment by 9.5% during the 2nd quarter. Castle Rock Wealth Management LLC now owns 14,175 shares of the investment management company’s stock valued at $207,000 after purchasing an additional 1,233 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Gladstone Investment by 3.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 42,196 shares of the investment management company’s stock valued at $594,000 after purchasing an additional 1,390 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Gladstone Investment by 4.4% during the 2nd quarter. Janney Montgomery Scott LLC now owns 40,564 shares of the investment management company’s stock valued at $570,000 after purchasing an additional 1,702 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Gladstone Investment during the 1st quarter valued at about $30,000. Finally, UBS Group AG raised its position in shares of Gladstone Investment by 7.1% during the 1st quarter. UBS Group AG now owns 49,039 shares of the investment management company’s stock valued at $791,000 after buying an additional 3,265 shares in the last quarter.

Gladstone Investment Price Performance

Gladstone Investment stock opened at $14.06 on Friday. Gladstone Investment Co. has a 1-year low of $11.40 and a 1-year high of $17.15. The firm has a market capitalization of $467.35 million, a P/E ratio of 9.31 and a beta of 1.38. The company’s 50-day moving average is $13.09 and its 200 day moving average is $14.04.

Gladstone Investment Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, December 30th. Investors of record on Tuesday, December 20th will be given a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 6.83%. The ex-dividend date of this dividend is Monday, December 19th. Gladstone Investment’s dividend payout ratio (DPR) is currently 63.58%.

Analyst Ratings Changes

Several analysts have recently issued reports on GAIN shares. LADENBURG THALM/SH SH upgraded shares of Gladstone Investment from a “neutral” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Wednesday, November 2nd. StockNews.com started coverage on shares of Gladstone Investment in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, TheStreet cut shares of Gladstone Investment from a “b” rating to a “c+” rating in a research report on Friday, September 2nd.

About Gladstone Investment

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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.

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Institutional Ownership by Quarter for Gladstone Investment (NASDAQ:GAIN)

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