Gladstone Investment Corp. (GAIN) Sets New 12-Month High at $8.15
Gladstone Investment Corp. (NASDAQ:GAIN)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $8.15 and last traded at $8.11, with a volume of 147,541 shares. The stock had previously closed at $8.14.
A number of equities analysts have recently issued reports on GAIN shares. Janney Montgomery Scott started coverage on Gladstone Investment Corp. in a research report on Friday, April 29th. They set a “buy” rating for the company. Zacks Investment Research upgraded Gladstone Investment Corp. from a “sell” rating to a “hold” rating in a research report on Monday, July 11th. Finally, TheStreet upgraded Gladstone Investment Corp. from a “hold” rating to a “buy” rating in a research report on Friday, June 10th.
The firm has a 50 day moving average price of $7.36 and a 200 day moving average price of $7.05.
Gladstone Investment Corp. (NASDAQ:GAIN) last announced its earnings results on Monday, August 1st. The investment management company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.05. On average, equities research analysts predict that Gladstone Investment Corp. will post $0.74 EPS for the current year.
The firm also recently announced a monthly dividend, which will be paid on Friday, September 30th. Shareholders of record on Wednesday, September 21st will be paid a $0.0625 dividend. The ex-dividend date of this dividend is Monday, September 19th. This represents a $0.75 dividend on an annualized basis and a yield of 9.32%.
A hedge fund recently raised its stake in Gladstone Investment Corp. stock. Morgan Stanley boosted its position in Gladstone Investment Corp. (NASDAQ:GAIN) by 7.6% during the fourth quarter, according to its most recent Form 13F filing with the 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 at the end of the most recent quarter.
Gladstone Investment Corporation is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objectives are to achieve and grow current income by investing in debt securities of established businesses that it believes will provide stable earnings and cash flow to pay expenses, make principal and interest payments on its outstanding indebtedness and make distributions to stockholders that grow over time, and provide its stockholders with long-term capital appreciation in the value of its assets by investing in equity securities, generally in combination with the aforementioned debt securities, of businesses that it believes can grow over time to permit it to sell its equity investments for capital gains.
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