Gladstone Investment Corp. (GAIN) Sees Unusually-High Trading Volume
Gladstone Investment Corp. (NASDAQ:GAIN) saw an uptick in trading volume on Monday . 146,575 shares changed hands during mid-day trading, a decline of 6% from the previous session’s volume of 156,196 shares.The stock last traded at $7.55 and had previously closed at $7.51.
Several brokerages have issued reports on GAIN. Janney Montgomery Scott reaffirmed a “neutral” rating and issued a $8.00 target price on shares of Gladstone Investment Corp. in a report on Monday, May 2nd. Zacks Investment Research raised shares of Gladstone Investment Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, June 15th. Finally, TheStreet raised shares of Gladstone Investment Corp. from a “hold” rating to a “buy” rating in a report on Friday, June 10th.
The firm’s 50-day moving average is $7.17 and its 200-day moving average is $7.04.
Gladstone Investment Corp. (NASDAQ:GAIN) last posted its quarterly earnings results on Tuesday, May 17th. The investment management company reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by $0.03. Analysts expect that Gladstone Investment Corp. will post $0.71 EPS for the current fiscal year.
The business also recently declared a monthly dividend, which will be paid on Friday, September 30th. Investors of record on Wednesday, September 21st will be paid a $0.0625 dividend. This represents a $0.75 annualized dividend and a yield of 9.93%. The ex-dividend date of this dividend is Monday, September 19th.
A hedge fund recently raised its stake in Gladstone Investment Corp. stock. Morgan Stanley raised its stake in Gladstone Investment Corp. (NASDAQ:GAIN) by 7.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 181,462 shares of the investment management company’s stock after buying an additional 12,784 shares during the period. Morgan Stanley’s holdings in Gladstone Investment Corp. were worth $1,393,000 as of its most recent filing with the SEC.
Gladstone Investment Corporation operates as a closed-end, non-diversified management investment company. The Company is a publicly traded business development company that pays monthly dividends to its stockholders and invests in small and medium sized private businesses, seeking to achieve returns from current income and capital gains through debt and equity investments.
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