# Gladstone Investment Corporatio (GAIN)

> Source: Nexqual · https://nexqual.com/GAIN · data as of 2026-10-23 17:24 UTC · cite as "Nexqual, Gladstone Investment Corporatio (GAIN), nexqual.com/GAIN" · informational, not investment advice.

**Price:** USD 14.52 (-1.19% today) · US market open, as of October 23, 2026 at 17:24 UTC; quotes may be delayed. Prev close 14.7 · day 14.48–14.68 · 52w 13.11–17.14 · market cap null · NMS

## Key facts
- Insider open-market purchases, last ~7 months: 2 Form 4 filings, $39K; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 2.25 on a 1–5 scale) (4 analysts), mean target USD 17 (range 17–17).
- Total return with dividends: 1Y +10.3% vs S&P 500 +14.4%; 5Y +58.8% vs S&P 500 +77.0%.
- Next earnings: 2026-11-09, EPS estimate USD 0.21, revenue estimate $25.9M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Net income | $102M | $35.5M | $85.3M | $65.3M | $185M | $165M |
| EPS (diluted) | $0.45 | $1.11 | $0.63 | $0.76 | — | — |
| Cash + short-term investments | $14.2M | $2.7M | $2.5M | $14.3M | $2.4M | — |
| Total debt | $261M | $293M | $398M | $456M | $564M | — |
Fiscal years end Mar. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)

P/E at fiscal year-ends: Mar 2026 3.0x, Mar 2025 7.5x, Mar 2024 5.7x.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
2 purchases, $39K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-08-18 | Ritchie Taylor | Chief Financial Officer | 1,500 | $24K | 16.2 | Too little history (no open-market trades in 2023–2025) |
| 2026-05-15…2026-05-19 | Ritchie Taylor | Chief Financial Officer | 915 | $15K | 16.34 | Too little history (no open-market trades in 2023–2025) |
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.25 on a 1–5 scale), 4 analysts; mean target USD 17 (low 17, high 17).

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +10.3% | +58.8% |
| S&P 500 (SPY) | +14.4% | +77.0% |
| Per year | +10.4% | +9.7% |
| Volatility (annualized) | 20.3% | 21.0% |
| Max drawdown | -13.0% (Aug 2026→Oct 2026) | -24.9% (Dec 2021→Oct 2022) |

## Peers (Asset Management)
BLK (BlackRock, Inc.) USD 1,108.2 -2.56% · BX (Blackstone Inc.) USD 116.24 -2.11% · BN (Brookfield Corporation) USD 37.69 -1.55% · KKR (KKR & Co. Inc.) USD 91.21 -2.02% · BAM (Brookfield Asset Management Inc) USD 47 -1.34% · APO (Apollo Global Management, Inc. ) USD 112.26 -2.24%

## More
Full page: https://nexqual.com/GAIN · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in GAIN's own 10-K filed 2026-05-12 (https://www.sec.gov/Archives/edgar/data/1321741/000132174126000011/gain-20260331.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Gladstone Securities | "As a result, we rely on our officers, the Adviser and its employees, Gladstone Securities and consultants to perform due diligence investigations of these portfolio companies, their operations, and their prospects." |
| Partner | M&T Securities | "In June 2025, we entered into an equity distribution agreement with M&T Securities, Inc. and entered into amendments to the agreements with Oppenheimer & Co. Inc., B." |
| Partner | Ginsey Home Solutions | "(15)In August 2012, we entered into a participation agreement with a third-party related to $5.0 million of our secured second lien term debt investment in Ginsey Home Solutions, Inc. ("Ginsey")." |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.20 | $0.21 | -4.7% | $25.9M | 4 |
| Next quarter (ends 2026-12-31) | $0.21 | $0.22 | -2.3% | $26.5M | 4 |
| Current fiscal year (ends 2027-03-31) | $1.01 | $0.87 | +16.1% | $107.8M | 4 |
| Next fiscal year (ends 2028-03-31) | $1.01 | $0.93 | +9.4% | $114.5M | 4 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-09): ±6.5%; last 8 reports averaged ±1.9%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 26.5% | ±6.5% |
| 2027-01-15 | 84 | 25.3% | ±10.0% |
| 2027-04-16 | 175 | 37.0% | ±20.4% |