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GLADSTONE INVESTMENT CORPORATION - BUSIN (NASD: GAIN)
Last Trade
4:00 p.m. - 10.65
Change
 0.06 ( 0.57%)
Shares Traded
1,699
Day's Volume
160,734
Book Value
NA
Price/Book
NA
Beta
0.7916
Day's Range
10.50 - 10.76
Prev Close
10.59
Open
10.54
52 Wk Range
6.43 - 13.99
EPS
-0.22
PE
NA
Monthly Div/Shr
0.07
Ex-Div
12/22/20
Yield
7.89%
Shares Out.
33.21M
Market Cap.
353.63M
  • 1 Year Stock Performance:

CAGR - Chart the growth of a $10K investment in GAIN

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Tue, 12 Jan 2021
21:15:00 +0000
Gladstone Investment Announces Monthly Cash Distributions for January, February, and March 2021, and Third Fiscal Quarter Earnings Release and Conference Call Dates
MCLEAN, VA / ACCESSWIRE / January 12, 2021 / Gladstone Investment Corporation (Nasdaq:GAIN) (the "Company") announced today that its board of directors declared the following monthly cash distributions to preferred and common stockholders. The Company also announced its plan to report earnings for its third fiscal quarter ended December 31, 2020.
Mon, 04 Jan 2021
13:30:00 +0000
Gladstone Investment Corporation Exits its Investment in Frontier Packaging
MCLEAN, VA / ACCESSWIRE / January 4, 2021 / Gladstone Investment Corporation (NASDAQ:GAIN) ("Gladstone Investment") announced today the sale of its portfolio company Frontier Packaging, Inc.
Mon, 21 Dec 2020
21:30:00 +0000
Gladstone Investment Corporation Recapitalizes its Investment in Old World Christmas
MCLEAN, VA / ACCESSWIRE / December 21, 2020 / Gladstone Investment Corporation (NASDAQ:GAIN) ("Gladstone Investment") announced today the recapitalization of its portfolio company Old World Christmas, Inc.
Fri, 27 Nov 2020
21:14:25 +0000
Should I Avoid Gladstone Investment Corporation (GAIN)?
With the third-quarter round of 13F filings behind us it is time to take a look at the stocks in which some of the best money managers in the world preferred to invest or sell heading into the fourth quarter. One of these stocks was Gladstone Investment Corporation (NASDAQ:GAIN). Gladstone Investment Corporation (NASDAQ:GAIN) investors should […]
Wed, 04 Nov 2020
19:31:03 +0000
Gladstone Investment Corp (GAIN) Q2 2021 Earnings Call Transcript
It is now my pleasure to introduce your host Mr. David Gladstone, Chief Executive Officer. This is David Gladstone, and this is the second quarter ending -- March 31, 2021 is our beginning of the year.
Wed, 04 Nov 2020
11:45:00 +0000
Gladstone Investment Corp. to Host Earnings Call
NEW YORK, NY / ACCESSWIRE / November 4, 2020 / Gladstone Investment Corp.
Tue, 03 Nov 2020
21:36:32 +0000
Gladstone Investment: Q2 Earnings Insights
Shares of Gladstone Investment (NASDAQ:GAIN) were flat in after-market trading after the company reported Q2 results.Quarterly Results Earnings per share were down 34.78% over the past year to $0.15, which beat the estimate of $0.13.Revenue of $11,840,000 declined by 28.83% year over year, which beat the estimate of $11,220,000.Looking Ahead Earnings guidance hasn't been issued by the company for now.View more earnings on GAINRevenue guidance hasn't been issued by the company for now.Technicals Company's 52-week high was at $15.34Company's 52-week low was at $6.43Price action over last quarter: down 9.03%Company Description Gladstone Investment Corp is a business development company. The company's investment objective is to invest in achieve and grow current income by investing in debt securities of established businesses that will provide stable earnings and cash flow, and provide its stockholders with long-term capital appreciation by investing in equity securities. The company's investment sectors include Business service/distribution, Consumer products, and manufacturing. Its portfolio consists of following industries Conglomerate Services, Home and Office Furnishings, Housewares, Durable Consumer Products, Leisure, Motion Pictures, Entertainment, Conglomerate Manufacturing, Chemicals, Telecommunications, Aerospace and Defense, and others. Its investment activities are carried across the United States.See more from Benzinga * Click here for options trades from Benzinga * Earnings Scheduled For November 3, 2020(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Tue, 03 Nov 2020
21:15:00 +0000
Gladstone Investment Corporation Reports Financial Results for its Second Quarter Ended September 30, 2020
MCLEAN, VA / ACCESSWIRE / November 3, 2020 / Gladstone Investment Corporation (NASDAQ:GAIN) (the "Company") today announced earnings for its second fiscal quarter ended September 30, 2020.
Mon, 02 Nov 2020
13:30:00 +0000
Gladstone Investment Corporation Earnings Call and Webcast Information
MCLEAN, VA / ACCESSWIRE / November 2, 2020 / Gladstone Investment Corporation (NASDAQ:GAIN) announces the following event:What:Gladstone Investment Corporation's Second Quarter Ended September 30, 2020 Earnings Call & Webcast When:Wednesday, November 4, 2020 @ 8:30 a.
Fri, 30 Oct 2020
16:04:12 +0000
6 of the Best Monthly Dividend Stocks to Fortify Your Portfolio
Stocks that deliver monthly income aren’t that common. Many energy master limited partnerships (MLPs) were monthly dividend payers, but those days are over. And even the best of them aren’t a very good pick right now. That makes finding the best monthly dividend stocks a challenge. But some stocks still do deliver monthly income that are worth your time. They’re usually organized under a business sector like real estate investment trusts (REITs) or business development corporations (BDCs) that are structured for tax purposes so that investors are direct owners in the company and share their net profits as dividends. Even if you’re a growth investor it’s good to have some solid monthly dividend paying stocks in your portfolio just to offset down markets like the one we’re in right now.InvestorPlace - Stock Market News, Stock Advice & Trading Tips 7 Coronavirus Stocks to Buy for the Second Wave And monthly dividends work well with the more typical quarterly dividends, since the cash is rolling in more regularly. Although, each payment is 1/12th the annual dividend rather than 1/4th the dividend. With all of that said, here are six of the best stocks that fit the bill: Horizon Technology Finance Corp (NADSAQ:HRZN) Armour Residential REIT (NYSE:ARR) Gladstone Investment Corp (NASDAQ:GAIN) LTC Properties (NYSE:LTC) PennantPark Floating Rate Capital (NASDAQ:PFLT) Solar Senior Capital (NASDAQ:SUNS) Best Monthly Dividend Stocks: Horizon Technology Finance Corp (HRZN) Source: Shutterstock Alternative financial companies have been on the rise since the market crash in 2008 hamstrung banks and decimated the Wild West venture capital markets. What has grown back is a more measured approach to venture capital that usually goes by the term “alt-financials.” These are non-bank lenders that make capital available for companies that find it hard to get financing through traditional lenders at favorable terms. HRZN focuses on development stage life sciences and technology companies. It will provide up to $25 million in financing for up to 2 years and can also take warrants or success fees as part of its payment. It currently has about a 10% annual dividend it pays monthly. The stock has had its up and downs. On the one hand, it’s in the hottest sectors in the market. On the other, these are small players and risk default in a tough economy. But HRZN has its assets diversified and has a good record of picking the right companies. Armour Residential REIT (ARR) Source: Shutterstock When you think of REITs, you think about companies that own land or properties they lease out to tenants. But there’s another type of REIT that has sprung up that only deals with mortgages and mortgage-backed securities. ARR’s portfolio focuses on mortgages that are underwritten by U.S. government agencies, which also removes a lot risk in its investment portfolio. If a homeowner defaults, the government agency that backs the mortgage has to pay most of that loss, not ARR. This business generates a lot of cash and that means it generates a big dividend yield. That yield now stands around 12.7%. The 10 Best Stocks to Buy for Gen Z Investors Given the fact that the real estate market should be hot for a number of years, with interest rates pinned a record lows, ARR is in a good space. Gladstone Investment Corp (GAIN) Source: Shutterstock This firm has a number of funds inside it that all pay monthly dividends. This is the private-equity fund that focuses on lower middle market companies. GAIN helps with capital, accessing markets and growing the businesses. It generally invests up to $30 million in debt and equity in a company that has between $3 million to $20 million EBITDA. It focuses on stable companies and prides itself on developing long-term relationships with its companies. This stability is a nice hedge in a market as volatile as this one. Once the next economic stimulus is sorted out after the election, GAIN will be a beneficiary. Until then, the stock has a 10% dividend to keep the cash coming. LTC Properties (LTC) Source: Shutterstock There are two long-term trends that were here before the novel coronavirus pandemic and will be here after a vaccine is found and distributed: a graying population and healthcare. LTC is a REIT that for nearly 3 decades has focused its business on these two property sectors. There’s little doubt that once we get out of the current mess we’re in, these two sectors will once again be on the growth track. 7 Penny Stocks to Watch in November Currently, this sector has gone begging as housing REITs and tech stocks have seized the day, but LTC has a foothold in a strong long-term trend that will endure. And its 7% dividend makes it a far more attractive option than parking your cash in the bank. PennantPark Floating Rate Capital (PFLT) Source: Shutterstock Another alt-financial, PFLT provides first lien debt to middle market companies, primarily in the U.S. market. It also supplies some second lien debt and takes equity positions in some companies. Its average investment size is $10.6 million and has a total portfolio of $1.1 billion. PFLT currently has 104 companies in its portfolio that are in 43 industries. Recently, PFLT formed a joint venture with global private markets investor Pantheon to expand its growth opportunities. PFLT stock currently has a big 14.5% dividend and given its well-seasoned management and the quality companies in its portfolio, it should weather the current pandemic well. All of that stacks up to make it one of the best monthly dividend stocks to consider buying now. Solar Senior Capital (SUNS) You may think that this BDC focuses on the solar industry, but it doesn’t. It works with companies that are looking for $5 million to $20 million in capital as either first lien or second lien debt. Its clients are generally U.S.-based companies that are non-cyclical businesses. This keeps reporting and transparency easy. And the non-cyclical model means SUNS doesn’t have to hedge across industries to keep a portfolio balanced when sectors rise and fall. Again, like many of these companies that are financing small- and medium-sized businesses, the current risk is sustaining the economy until it can recover. If the economy seizes, SUNS’s clients will have a tough time repaying their loans. And that will make it tough for SUNS. 7 Coronavirus Stocks to Buy for the Second Wave But SUNS stock already has priced in that risk, so its 9.5% dividend is very attractive and a good source of income. On the date of publication, Louis Navellier has no long positions in any of the stocks in this article. Louis Navellier did not have (either directly or indirectly) any other positions in the securities mentioned in this article.  The InvestorPlace Research Staff member primarily responsible for this article did not hold (either directly or indirectly) any positions in the securities mentioned in this article. Louis Navellier had an unconventional start, as a grad student who accidentally built a market-beating stock system — with returns rivaling even Warren Buffett. In his latest feat, Louis discovered the “Master Key” to profiting from the biggest tech revolution of this (or any) generation. Louis Navellier may hold some of the aforementioned securities in one or more of his newsletters. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG Top Stock Picker Reveals His Next 1,000% Winner Radical New Battery Could Dismantle Oil Markets Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company Daily Picks: Stocks to Buy Ahead of the Election The post 6 of the Best Monthly Dividend Stocks to Fortify Your Portfolio appeared first on InvestorPlace.
Mon, 26 Oct 2020
20:30:00 +0000
Gladstone Investment Appoints Executive Vice Presidents
MCLEAN, VA / ACCESSWIRE / October 26, 2020 / Gladstone Investment Corporation (Nasdaq:GAIN) ("Gladstone Investment") announced today that it has appointed two of its Managing Directors to the additional position of Executive Vice President: Kyle Largent and Peter Roushdy.
Mon, 26 Oct 2020
16:31:04 +0000
Analysts Estimate Gladstone Investment (GAIN) to Report a Decline in Earnings: What to Look Out for
Gladstone Investment (GAIN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Tue, 13 Oct 2020
20:15:00 +0000
Gladstone Investment Announces Monthly Cash Distributions for October, November and December 2020 and Second Fiscal Quarter Earnings Release and Conference Call Dates
MCLEAN, VA / ACCESSWIRE / October 13, 2020 / Gladstone Investment Corporation (NASDAQ:GAIN) (the "Company") announced today that its board of directors declared the following monthly cash distributions to preferred and common stockholders.
Thu, 06 Aug 2020
20:05:00 +0000
Gladstone Investment Corporation Announces Adjournment of 2020 Annual Meeting of Stockholders
MCLEAN, Va., Aug. 06, 2020 (GLOBE NEWSWIRE) -- Gladstone Investment Corporation (Nasdaq: GAIN) (the “Company”) held its 2020 Annual Meeting of Stockholders (the “Annual Meeting”) on Thursday, August 6, 2020.  To solicit additional votes to establish a quorum for the Annual Meeting, the meeting was adjourned until Thursday, August 20, 2020 at 11:00 a.m. EDT, and will reconvene at that time as a live webcast at www.virtualshareholdermeeting.com/GAIN2020.  “We are encouraged by the positive support that we have received to date from a significant number of our stockholders,” stated David Dullum, President of the Company. “We ask our stockholders who have not yet voted their shares to please do so as soon as possible and we thank all of our stockholders for their continued support.”If you have not yet voted, we urge you to vote by phone or through the internet using the instructions provided on your proxy ballot. You may also contact Georgeson LLC, the Company’s proxy solicitor, to vote your shares at (800) 903-2897.  Representatives from Georgeson are available to take your call Monday through Friday from 9:00 a.m. to 11:00 p.m. EDT or 11:00 a.m. to 6:00 p.m. EDT on Saturdays.Important InformationStockholders are strongly advised to read the proxy statement (filed with the Securities and Exchange Commission (the “SEC”) on June 15, 2020) carefully before making any voting decision, as it contains important information. The proxy statement and the Company’s most recent annual report are available at www.proxyvote.com.  Further, these documents and any other materials filed by the Company with the SEC can be obtained free of charge at the SEC’s website at www.sec.gov or from the Company’s website at www.gladstoneinvestment.com.Gladstone Investment Corporation is a publicly traded business development company that seeks to make debt and equity investments in lower middle market businesses in the United States in connection with acquisitions, changes in control and recapitalizations.Source: Gladstone Investment CorporationFor further information: Gladstone Investment Corporation, +1-703-287-5893
Wed, 05 Aug 2020
20:30:00 +0000
Gladstone Investment Corporation Launches Public Offering of 6.00% Notes
MCLEAN, Va., Aug. 05, 2020 (GLOBE NEWSWIRE) -- Gladstone Investment Corporation (Nasdaq: GAIN) (the “Company”) today announced that on May 22, 2020 it filed a prospectus supplement with the U.S. Securities and Exchange Commission (“SEC”) for a continuous public offering of up to $350 million of its 6.00% Notes due 2040 (the “Notes”) at an offering price of $25.00 per share (the “Offering”). The Company is only offering up to $200 million aggregate principal amount of the Notes under the prospectus supplement and intends to file a new shelf registration statement on Form N-2 and a related prospectus supplement in order to register and offer the entire aggregate principal amount of Notes by July 2022. Of the $200 million in Notes offered under the existing prospectus supplement, the Company expects up to $177 million in net proceeds, after payment of dealer manager fees and selling commissions and estimated expenses of the Offering payable by the Company, assuming all Notes are sold in the Offering. Gladstone Securities, LLC, an affiliate of the Company (“Gladstone Securities”), will serve as the Company’s exclusive dealer manager in connection with the Offering. The Notes are being offered by Gladstone Securities on a “reasonable best efforts” basis pursuant to a Dealer Manager Agreement dated as of May 22, 2020, entered into between the Company and Gladstone Securities (the “Dealer Manager Agreement”). The Company expects that the Offering will terminate on the date that is the earlier of (1) July 1, 2025 (unless earlier terminated or extended by our Board of Directors) and (2) the date on which all $350 million of Notes offered are sold. There is currently no public market for the Notes. The Company intends to apply to list the Notes on Nasdaq or another national securities exchange within one calendar year of the Termination Date, however, there can be no assurance that a listing will be achieved in such timeframe, or at all.  We do not expect a public market to develop before the Notes are listed on Nasdaq or another national securities exchange, if at all.The Offering is currently being conducted as a public offering under the Company’s effective shelf registration statement, filed with the SEC (File No. 333-232124), which became effective on July 24, 2019. Before you invest, you should read the prospectus in the registration statement, the prospectus supplement, and other documents that the Company has filed with the SEC for more complete information about the Company or the Offering. You may access these documents for free by visiting EDGAR on the SEC’s website at www.SEC.gov. Alternatively, the Dealer Manager for the Offering, Gladstone Securities, LLC, will arrange to mail you the prospectus and prospectus supplement if you request one by calling toll-free at (833) 849-5993 or sending a request to: Gladstone Securities, LLC, 1521 Westbranch Drive, Suite 100 McLean, Virginia 22102, Attn: John Kent.Timbrel Capital, LLC is acting as National Accounts Manager on the Offering and is a third party not affiliated with Gladstone Securities LLC or the Company.This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. About Gladstone Investment Corporation:Gladstone Investment Corporation is a publicly traded business development company that seeks to make secured debt and equity investments in lower middle market businesses in the United States in connection with acquisitions, changes in control and recapitalizations. Information on the business activities of all the Gladstone funds can be found at www.gladstonecompanies.com.About Gladstone Securities, LLC:Gladstone Securities, LLC (Member of FINRA/SIPC), our affiliated broker dealer, is a boutique broker dealer that distributes certain investment products through various participating broker dealers and registered investment advisors.  Gladstone Securities serves as the dealer manager for Gladstone Investment Corporation, Gladstone Land Corporation and Gladstone Commercial Corporation. In addition to our Notes offering, Gladstone Securities also currently serves as dealer manager for the Gladstone Commercial Corporation $500 Million 6.0% Series F Cumulative Redeemable Preferred Stock and the Gladstone Land Corporation $500 Million 6.0% Series C Cumulative Redeemable Preferred Stock offerings. For more information, call (833) 849-5993.Forward-Looking Statements: This press release contains statements as to the Company’s intentions and expectations of the outcome of future events that are forward-looking statements. You can identify these statements by the fact that they do not relate strictly to historical or current facts. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. These statements relate to the offering of the Notes, expected net proceeds and the anticipated use of the net proceeds. No assurance can be given that the transaction discussed above will be completed on the terms described, or at all. Completion of the Offering on the terms described are subject to numerous conditions, many of which are beyond the control of the Company. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. For a description of certain risks to which the Company is or may be subject, please refer to the factors discussed under the captions “Forward-Looking Statements” and “Risk Factors” and other similar headings included in the Company’s filings with the SEC (accessible at www.sec.gov). Source: Gladstone Investment CorporationInvestor Relations Inquiries: Please visit ir.gladstoneinvestment.com or +1-703-287-5893.
Wed, 29 Jul 2020
23:00:29 +0000
Gladstone Investment Corp (GAIN) Q1 2021 Earnings Call Transcript
Ladies and gentlemen, thank you for standing by, and welcome to the Gladstone Investment Corporation's First Quarter and Year Ended June 30, 2020 Earnings Call and Webcast. This is David Gladstone, the Chairman and this is the first quarter ending for 2021, our year end is March 31. In this conference call for the analysts and the shareholders of Gladstone Investment, it is listed on NASDAQ under the trading symbol GAIN, but we are always trying to trigger some capital gains and GAINM and GAINL are our preferred stocks.
Wed, 29 Jul 2020
00:25:12 +0000
Gladstone Investment (GAIN) Misses Q1 Earnings and Revenue Estimates
Gladstone Investment (GAIN) delivered earnings and revenue surprises of -42.11% and -21.60%, respectively, for the quarter ended June 2020. Do the numbers hold clues to what lies ahead for the stock?
Tue, 28 Jul 2020
20:30:00 +0000
Gladstone Investment Corporation Reports Financial Results for its First Quarter Ended June 30, 2020
MCLEAN, Va., July 28, 2020 (GLOBE NEWSWIRE) -- Gladstone Investment Corporation (Nasdaq: GAIN) (the “Company”) today announced earnings for its first quarter ended June 30, 2020. Please read the Company’s Quarterly Report on Form 10-Q filed today with the U.S. Securities and Exchange Commission (the “SEC”), which is available on the SEC’s website at www.sec.gov or the investor relations section of the Company’s website at www.gladstoneinvestment.com.  Summary Information: (dollars in thousands, except per share data (unaudited)):  June 30, 2020 March 31, 2020 Change % Change  For the quarter ended:          Total investment income $10,707 $11,982 $(1,275)(10.6)% Total expenses, net(A) 6,534 (2,784)9,318 NM  Net investment income(A) 4,173 14,766 (10,593)(71.7) Net realized gain (loss) 753 (10,879)11,632 NM  Taxes on deemed distribution of long-term capital gains — (10,260)10,260 NM  Net unrealized depreciation (4,887)(31,229)26,342 (84.4) Net increase (decrease) in net assets resulting from operations(A) 39 (37,602)37,641 NM  Net investment income per weighted-average common share(A) 0.13 0.45 (0.32)(71.1) Adjusted net investment income per weighted-average common share(B) 0.11 0.19 (0.8)(42.1) Net increase (decrease) in net assets resulting from operations per weighted-average common share(A) — (1.15)1.15 (100.0) Cash distribution per common share from net investment income 0.28 0.19 0.09 47.4  Cash distribution per common share from net realized gains(C) 0.02 0.03 (0.01)(33.3)            Weighted-average yield on interest-bearing investments 11.8 12.4 (0.6)(4.8) Total dollars invested $300 $50,145 $(49,845)(99.4) Total dollars repaid and collected from sales 620 2,943 (2,323)(78.9)            As of:          Total investments, at fair value $561,342 $565,924 $(4,582)(0.8)% Fair value, as a percent of cost 92.0%92.8%(0.8)%(0.9) Net assets $360,869 $369,031 $(8,162)(2.2) Net asset value per common share 10.87 11.17 (0.30)(2.7) Number of portfolio companies 28 28 — —  (A) Inclusive of $(0.8) million, or $(0.02) per weighted-average common share, and $(8.4) million, or $(0.26) per weighted-average common share, of capital gains-based incentive fees reversed during the three months ended June 30, 2020 and March 31, 2020, respectively. These fees were accrued/(reversed) in accordance with United States generally accepted accounting principles (“U.S. GAAP”), where such amounts were not contractually due under the terms of the investment advisory agreement for the respective periods. Also see discussion under Non-GAAP Financial Measure – Adjusted Net Investment Income below. (B) See Non-GAAP Financial Measure — Adjusted Net Investment Income below for a description of this non-GAAP measure and a reconciliation from Net investment income to Adjusted net investment income, including on a weighted-average per share basis. The Company uses this non-GAAP financial measure internally in analyzing financial results and believes that this non-GAAP financial measure is useful to investors as an additional tool to evaluate ongoing results and trends for the Company. (C) Estimates of tax characterization made on a quarterly basis may not be representative of the actual tax characterization of distributions for the full year. Estimates made on a quarterly basis are updated as of each interim reporting date. Highlights for the Quarter:  During the quarter ended June 30, 2020, the following significant events occurred: * Distributions and Dividends: * Paid the following monthly cash distributions to common stockholders and dividends to preferred stockholders for each of April, May, and June 2020: * $0.07 per common share; * $0.13020833 per share to holders of our 6.25% Series D Cumulative Term Preferred Stock (“Series D Term Preferred Stock”); and * $0.13281250 per share to holders of our 6.375% Series E Cumulative Term Preferred Stock (“Series E Term Preferred Stock”). * Paid a $0.09 per common share supplemental distribution in June 2020.   * At-the-market (“ATM”) program activity: * Sold 155,560 shares of our common stock under our Common Stock ATM Program with Wedbush Securities, Inc. (“Wedbush”) at a weighted-average gross price of $11.39 per share and raised approximately $1.7 million in net proceeds. These sales were above our then current estimated NAV per share. * Sold 95,475 shares of our Series E Term Preferred Stock under our Series E ATM Program with Wedbush with a total liquidation preference of $2.4 million and raised approximately $2.3 million in net proceeds.First Quarter Results: Net investment income for the quarters ended June 30, 2020 and March 31, 2020 was $4.2 million, or $0.13 per weighted-average common share, and $14.8 million, or $0.45 per weighted-average common share, respectively. This decrease was primarily a result of an increase in total expenses, net of credits as well as a decrease in total investment income, quarter over quarter.Total investment income during the quarters ended June 30, 2020 and March 31, 2020 was $10.7 million and $12.0 million, respectively. The quarter over quarter decrease was due to a $0.9 million decrease in interest income, primarily due to placing one investment on non-accrual status in the current quarter, as well as a $0.4 million decrease in success fee income, the timing of which can be variable.Total expenses, net of credits, during the quarters ended June 30, 2020 and March 31, 2020, were $6.5 million and $(2.8) million, respectively. The quarter over quarter increase was primarily a result of a $0.8 million reversal of previously accrued capital gains-based incentive fees due to the net impact of realized and unrealized gains and losses in the current quarter compared to an $8.4 million reversal in the prior quarter and a $1.1 million reduction of credits to fees from the Adviser. Remaining expenses were relatively consistent quarter over quarter, with a slight increase primarily due to higher tax and stockholder expenses.Net asset value per common share as of June 30, 2020 decreased to $10.87, compared to $11.17 as of March 31, 2020. The quarter over quarter decrease was primarily due to $9.9 million, or $0.30 per common share, of distributions paid to common shareholders, and $4.9 million, or $0.15 per common share, of net unrealized depreciation of investments, partially offset by $4.2 million, or $0.13 per common share, of net investment income and $0.8 million, or $0.02 per common share, of net realized gains on investments.Subsequent Events:  After June 30, 2020, the following significant events occurred:              * Investment Activity: In July 2020, we invested $46.9 million in Mason West, LLC (“Mason West”) through a combination of secured first lien debt and preferred equity. Mason West, headquartered in Placentia, California, is a provider of engineered seismic restraint and vibration isolation solutions.   * ATM program activity: Subsequent to June 30, 2020 and through July 20, 2020, we sold 1,802 shares of our Series E Term Preferred Stock under our Series E ATM Program with Wedbush with a total liquidation preference of $45 thousand and raised approximately $43 thousand in net proceeds.   * Distributions and dividends: In July 2020, our Board of Directors declared the following monthly cash distributions to common stockholders and monthly dividends to holders of our series of term preferred stock:Record Date Payment Date Distribution per Common Share Dividend per Share of Series D Term Preferred Stock Dividend per Share of Series E Term Preferred Stock  July 24, 2020 July 31, 2020 $0.07 $0.13020833 $0.13281250  August 24, 2020 August 31, 2020 0.07 0.13020833 0.13281250  September 23, 2020 September 30, 2020 0.07 0.13020833 0.13281250    Total for the Quarter: $0.21 $0.39062499 $0.39843750  * COVID-19 Impact: We continue to closely monitor and work with our portfolio companies to navigate the significant challenges created by the COVID-19 pandemic and are focused on ensuring the safety of the Adviser’s and Administrator’s personnel and of the employees of our portfolio companies, while also managing our ongoing business activities. While we are closely monitoring all of our portfolio companies, our portfolio continues to be diverse from a geographic and industry perspective. Through proactive measures and continued diligence, the management teams of our portfolio companies continue to demonstrate their ability to respond effectively and efficiently to the challenges posed by COVID-19 and related orders imposed by state and local governments, including paused or reversed reopening orders. We believe we have sufficient levels of liquidity to support our existing portfolio companies, as necessary, and selectively deploy capital in new investment opportunities.     Non-GAAP Financial Measure — Adjusted Net Investment Income: On a supplemental basis, the Company discloses Adjusted net investment income, including on a per share basis, which is a financial measure that is calculated and presented on a basis of methodology other than in accordance with U.S. GAAP (“non-GAAP”). Adjusted net investment income represents net investment income, excluding capital gains-based incentive fees. The Company uses this non-GAAP financial measure internally in analyzing financial results and believes that this non-GAAP financial measure is useful to investors as an additional tool to evaluate ongoing results and trends for the Company. The Company’s investment advisory agreement provides that a capital gains-based incentive fee is determined and paid annually with respect to realized capital gains (but not unrealized appreciation) to the extent such realized capital gains exceed realized capital losses and unrealized depreciation on investments for such year. However, under U.S. GAAP, a capital gains-based incentive fee is accrued if realized capital gains and unrealized appreciation of investments exceed realized capital losses and unrealized depreciation of investments. Refer to Note 4 – Related Party Transactions in our Annual Report on Form 10-K for further discussion. The Company believes that Adjusted net investment income is a useful indicator of operations exclusive of any capital gains-based incentive fees, as net investment income does not include realized or unrealized investment activity associated with the capital gains-based incentive fee.The following table provides a reconciliation of net investment income (the most comparable U.S. GAAP measure) to Adjusted net investment income for the periods presented (dollars in thousands, except per share amounts; unaudited):  For the quarter ended    June 30, 2020 March 31, 2020    Amount Per Share Amount Amount Per Share Amount  Net investment income $4,173 $0.13 $14,766 $0.45  Capital gains-based incentive fee (reversal)  (754) (0.02) (8,422) (0.26) Adjusted net investment income $3,419 $0.11 $6,344 $0.19                 Adjusted net investment income may not be comparable to similar measures presented by other companies, as it is a non-GAAP financial measure that is not based on a comprehensive set of accounting rules or principles and therefore may be defined differently by other companies. In addition, Adjusted net investment income should be considered in addition to, not as a substitute for, or superior to, financial measures determined in accordance with U.S. GAAP. Conference Call:  The Company will hold its earnings release conference call on Wednesday, July 29, 2020, at 8:30 a.m. EDT. Please call (833) 519-1256 and enter conference number 5383517 to enter the conference call. An operator will monitor the call and set a queue for any questions. A replay of the conference call will be available through August 5, 2020. To hear the replay, please dial (855) 859-2056 and use the playback conference number 5383517. The replay will be available beginning approximately one hour after the call concludes. The live audio broadcast of the Company’s quarterly conference call will also be available online at www.gladstoneinvestment.com. The event will be archived and available for replay on the Company’s website through September 29, 2020.About Gladstone Investment Corporation:  Gladstone Investment Corporation is a publicly traded business development company that seeks to make secured debt and equity investments in lower middle market businesses in the United States in connection with acquisitions, changes in control and recapitalizations. Information on the business activities of all the Gladstone funds can be found at www.gladstonecompanies.com.To obtain a paper copy of our Quarterly Report on Form 10-Q filed today with the SEC, please contact the Company at 1521 Westbranch Drive, Suite 100, McLean, VA 22102, ATTN: Investor Relations. The financial information above is not comprehensive and is without notes, so readers should obtain and carefully review the Company’s Form 10-Q for the quarter ended June 30, 2020, including the notes to the consolidated financial statements contained therein.Source: Gladstone Investment CorporationInvestor Relations Inquiries: Please visit ir.gladstoneinvestment.com. or +1-703-287-5893.
Tue, 14 Jul 2020
20:15:10 +0000
Gladstone Investment Announces Monthly Cash Distributions for July, August and September 2020 and First Fiscal Quarter Earnings Release and Conference Call Dates
MCLEAN, Va., July 14, 2020 -- Gladstone Investment Corporation (Nasdaq: GAIN) (the “Company”) announced today that its board of directors declared the following monthly cash.
Thu, 09 Jul 2020
20:30:10 +0000
Gladstone Investment Corporation and KCM Capital Partners Acquire Mason West
MCLEAN, Va., July 09, 2020 -- Gladstone Investment Corporation (Nasdaq: GAIN) (“Gladstone Investment”) announced today that on July 6, 2020, it partnered with KCM Capital.

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