Gladstone Investment Corporation (0IVR)
Summary
0IVR Chart
Gladstone's Common Vs. Bonds: Who Will Win?
Gladstone Investment is a strong BDC, but its common stock is risky due to high leverage, concentrated holdings, and a premium valuation. Baby bonds GAINI and GAINZ offer attractive yields (8.06%-8.16%) with lower risk and higher capital protection than the common stock. Leveraged baby bonds deliver a solid 10.74%-10.94% ROE, slightly below the common stock, but with much less volatility and risk.
Gladstone Investment: Reliance On Equity Investments Warrants Caution
I maintain a hold rating on GAIN, due to increased non-accruals and heavy reliance on equity investments, which are riskier in a high-rate environment. While GAIN offers a compelling 6.5% dividend yield and solid recent earnings, the premium to NAV and economic uncertainties make the stock expensive now. Non-accruals have risen to 13.1% of cost, signaling some portfolio deterioration and raising concerns about future earnings sustainability if rates stay high.
Gladstone Investment (GAIN) Q4 Earnings and Revenues Top Estimates
Gladstone Investment (GAIN) came out with quarterly earnings of $0.26 per share, beating the Zacks Consensus Estimate of $0.23 per share. This compares to earnings of $0.24 per share a year ago.
Gladstone Investment Corporation Dividends
| 0IVR 21 Sep 2021 | Other | $0.07 Per Share |
| 0IVR 21 May 2018 | Other | $0.07 Per Share |
| 0IVR 19 Apr 2018 | Other | $0.07 Per Share |
| 0IVR 19 Mar 2018 | Other | $0.07 Per Share |
Gladstone Investment Corporation Earnings
| 6 May 2025 Date | | 0.23 Cons. EPS | 0.2 EPS |
| 4 Feb 2025 Date | | 0.24 Cons. EPS | 0.03 EPS |
| 7 Nov 2024 Date | | 0.25 Cons. EPS | 0.24 EPS |
| 30 Oct 2024 Date | | 0.25 Cons. EPS | - EPS |
| 5 Aug 2024 Date | | 0.25 Cons. EPS | 0.24 EPS |
| 0IVR 21 Sep 2021 | Other | $0.07 Per Share |
| 0IVR 21 May 2018 | Other | $0.07 Per Share |
| 0IVR 19 Apr 2018 | Other | $0.07 Per Share |
| 0IVR 19 Mar 2018 | Other | $0.07 Per Share |
| 6 May 2025 Date | | 0.23 Cons. EPS | 0.2 EPS |
| 4 Feb 2025 Date | | 0.24 Cons. EPS | 0.03 EPS |
| 7 Nov 2024 Date | | 0.25 Cons. EPS | 0.24 EPS |
| 30 Oct 2024 Date | | 0.25 Cons. EPS | - EPS |
| 5 Aug 2024 Date | | 0.25 Cons. EPS | 0.24 EPS |
Gladstone Investment Corporation (0IVR) FAQ
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Gladstone Investment Corporation Profile
| Asset Management Industry | Financial Services Sector | Mr. David John Gladstone CEO | LSE Exchange | US3765461070 ISIN |
| US Country | 70 Employees | 20 Jun 2025 Last Dividend | - Last Split | 23 Jun 2005 IPO Date |
Overview
Gladstone Investment Corporation is a business development company that focuses on investments in lower middle market and mature stage companies. It primarily engages in buyouts, refinancing of existing debt, and offers a range of debt and equity financing solutions. The company has a clear preference for investing in the manufacturing, consumer products, and business/consumer services sectors. Target companies are generally small to mid-sized, based in the United States, with revenues between $20 million and $100 million and EBITDA from $3 million to $20 million. Gladstone Investment Corporation aims for a minority equity ownership but is also open to taking a majority stake and often seeks a board seat in its portfolio companies. Its investment horizon is typically around seven years, looking to exit via sale or recapitalization, initial public offering, or sale to a third party.
Products and Services
- Senior Debt Securities
- Senior Subordinated Debt Securities
- Junior Subordinated Debt Securities
- Limited Liability Company Interests
- Warrants or Options
Includes senior loans, senior term loans, lines of credit, and senior notes. These are prioritized debt instruments that offer financing solutions to companies looking to refinance existing obligations or fund their operations and growth initiatives.
Encompasses senior subordinated loans and senior subordinated notes, which are a step below senior debts in terms of repayment priority but offer a higher yield, catering to companies needing more flexible debt structures.
Includes subordinated notes and mezzanine loans, representing even riskier debt options with potentially higher returns, used typically for growth financing under conditions of higher financial leverage.
This represents equity investments in small and mid-sized companies, showing Gladstone's investment in company ownership and potential influence on company management and operations.
Offer the capability to invest in a company's growth potential through instruments that provide the right, but not the obligation, to buy equity at a predetermined price, allowing for flexible and strategic equity participation in portfolio companies.
Contact Information
