Burgundy Asset Management Dumps Gladstone Investment Corporation (GAIN) Shares

Burgundy Asset Management Ltd. has decreased its exposure to Gladstone Investment Corporation (NASDAQ:GAIN). In a recent filing with the Securities and Exchange Commission, the fund revealed the reduction of its stake to 483,106 shares from 2.65 million shares reported in its latest 13F filing. Burgundy’s current position accounts for approximately 1.82% of the company’s common stock.

John Overdeck and David Siegel, the managers of Two Sigma Advisors, are on the other hand bullish on this stock. According to Two Sigma Advisors’ latest 13F report, the fund holds 97,621 shares, a quarterly increase of 7%, valued at $687,000. During the third quarter of 2013, D. E. Shaw opened a position in Gladstone Investment Corporation (NASDAQ:GAIN). His fund, D E Shaw reported ownership of 14,553 shares worth approximately $103 thousand. Cliff Asness is also keeping tabs on this stock as his fund, AQR Capital Management, holds 13,320 valued at about $94 thousand.

Gladstone Investment Corporation (NASDAQ:GAIN) is a business development company. With a current share price of $7.54, the company has a market cap of $199.6 million. The stock has a beta of 0.71 and pays a quarterly dividend of 0.06, which represents a yield of 9.55%. Gladstone has a Price to Earnings (P/E) ratio of 13.54.

For the three months ended September 30, 2013, Gladstone Investment reported revenues of $11.3 million and earnings per share (EPS) of $0.24. For the current quarter, analysts expect the company to register revenues of $8.62 million and earnings of $0.17 per share. On November 29th, shareholders were awarded a one-time bonus dividend of $0.05 per share.

Disclosure: none

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