Gladstone Investment Corp. (GAIN) Sees Large Volume Increase
Shares of Gladstone Investment Corp. (NASDAQ:GAIN) saw unusually-strong trading volume on Monday . Approximately 186,197 shares traded hands during mid-day trading, an increase of 20% from the previous session’s volume of 155,605 shares.The stock last traded at $7.56 and had previously closed at $7.50.
A number of research analysts have recently commented on GAIN shares. TheStreet raised shares of Gladstone Investment Corp. from a “hold” rating to a “buy” rating in a research report on Friday, June 10th. Zacks Investment Research downgraded shares of Gladstone Investment Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, May 24th. Finally, Janney Montgomery Scott reissued a “neutral” rating and issued a $8.00 price objective on shares of Gladstone Investment Corp. in a research report on Monday, May 2nd.
The company has a 50 day moving average of $7.24 and a 200 day moving average of $7.04.
Gladstone Investment Corp. (NASDAQ:GAIN) last released its earnings results on Tuesday, May 17th. The investment management company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by $0.03. Analysts forecast that Gladstone Investment Corp. will post $0.71 EPS for the current fiscal year.
The company also recently declared a monthly dividend, which will be paid on Friday, September 30th. Stockholders of record on Wednesday, September 21st will be paid a dividend of $0.0625 per share. The ex-dividend date of this dividend is Monday, September 19th. This represents a $0.75 annualized dividend and a dividend yield of 9.89%.
An institutional investor recently raised its position in Gladstone Investment Corp. stock. Morgan Stanley boosted its stake in shares of Gladstone Investment Corp. (NASDAQ:GAIN) by 7.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 SEC filing.
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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