Gladstone Invt Corp Stock Price, News & Analysis

Gladstone Investment Corporation (NASDAQ: GAIN) announced the appointment of two Managing Directors, Kyle Largent and Peter Roushdy, as Executive Vice Presidents. Largent has been with the company since 2006, previously serving at National Capital and Friedman Billings Ramsey, holding an MBA from Georgetown University. Roushdy joined in 2011, having a background in investment banking at Wells Fargo, with a BA in Economics from Davidson College. These appointments aim to bolster leadership as the firm continues its investments in the lower middle market.

Gladstone Investment Corporation (NASDAQ: GAIN) has declared monthly cash distributions of $0.07 per share for common stock for October, November, and December 2020. Additionally, the Series D Term Preferred Stock will receive $0.13020833 per share, and the Series E Term Preferred Stock will receive $0.1328125 per share during the same months. The total cash distribution for the quarter per common share will be $0.21. Earnings for the second fiscal quarter ended September 30, 2020, will be reported on November 3, 2020, followed by a conference call on November 4, 2020.

Gladstone Investment Corporation (GAIN) adjourned its 2020 Annual Meeting of Stockholders to August 20, 2020, to gather more votes for a quorum. President David Dullum expressed gratitude for stockholder support and urged those who haven't voted to do so promptly. Stockholders are encouraged to read the detailed proxy statement filed with the SEC on June 15, 2020, before voting. The proxy and annual report are available online.

Gladstone Investment Corporation (Nasdaq: GAIN) has filed a prospectus for a continuous public offering of up to $350 million of its 6.00% Notes due 2040 at an offering price of $25.00 per share. Initially, $200 million of these Notes will be offered, with expected net proceeds of up to $177 million after fees and expenses. The offering will end by July 1, 2025, or once all Notes are sold. Plans to list the Notes on Nasdaq are intended, though success is not guaranteed.

Gladstone Investment Corporation (GAIN) reported Q1 earnings for the period ending June 30, 2020. Total investment income declined by 10.6%, falling to $10.7 million, while net investment income plummeted 71.7% to $4.2 million or $0.13 per share. Total expenses surged to $6.5 million. The net asset value per share decreased to $10.87. Despite challenges posed by COVID-19, the company remains focused on supporting its portfolio. A significant investment of $46.9 million was made in Mason West, LLC in July 2020. Cash distributions per common share rose by 47.4% to $0.28.

Gladstone Investment Corporation (Nasdaq: GAIN) is set to hold its earnings call for the first quarter ended June 30, 2020, on July 29, 2020, at 8:30 a.m. EDT. Interested parties can participate via webcast or by phone. A replay will be available for one week following the call. Gladstone focuses on secured debt and equity investments in lower middle-market businesses across the U.S., especially in acquisition, control changes, and recapitalizations. The event will also be archived on their website for later access.

Gladstone Investment announced its partnership with KCM Capital to acquire Mason West, LLC and AJ Engineering, LLC on July 6, 2020. Gladstone provided equity and senior secured debt to facilitate the acquisition. Mason West, based in California, specializes in engineered seismic restraint and vibration isolation products, serving mechanical, electrical, and plumbing contractors across California, Nevada, and Hawaii. This acquisition aims to leverage Mason West's quality and customer service to drive growth in a highly regulated market.

Gladstone Investment Corporation (NASDAQ: GAIN) has clarified a mix-up involving an email article mistakenly sent to some Seeking Alpha subscribers about an unrelated company, Gain Capital Holdings (NYSE: GCAP). The confusion arose due to the similarity between the two companies' names and Gladstone's stock symbol, GAIN. Gladstone aims to ensure that investors are correctly informed about their business and activities.

Gladstone Investment Corporation (NASDAQ: GAIN) reported earnings for Q4 and fiscal year ended March 31, 2020. Key figures include total investment income of $11.98 million, down 25.1% from the previous quarter, while total expenses netted to -$2.78 million. Net investment income surged 139.8% to $14.77 million. However, net realized losses reached $10.88 million. The net asset value per common share dropped to $11.17, a 10.7% decline since December 31, 2019. Despite a challenging environment, total investment income rose to $61.92 million for the fiscal year, marking a 3.8% increase year-over-year.