Gladstone Investment Corp. (GAIN) Sets New 1-Year High at $8.15
Gladstone Investment Corp. (NASDAQ:GAIN) shares reached a new 52-week high during trading on Thursday . The company traded as high as $8.15 and last traded at $8.11, with a volume of 147,541 shares changing hands. The stock had previously closed at $8.14.
A number of research analysts recently commented on the company. Jefferies Group reiterated a “hold” rating on shares of Gladstone Investment Corp. in a report on Friday. Zacks Investment Research upgraded Gladstone Investment Corp. from a “hold” rating to a “strong-buy” rating and set a $9.25 price objective on the stock in a report on Wednesday. TheStreet upgraded Gladstone Investment Corp. from a “hold” rating to a “buy” rating in a report on Friday, June 10th. Finally, Janney Montgomery Scott reiterated a “neutral” rating and issued a $8.00 price objective on shares of Gladstone Investment Corp. in a report on Monday, May 2nd.
The company has a 50-day moving average price of $7.42 and a 200-day moving average price of $7.06.
Gladstone Investment Corp. (NASDAQ:GAIN) last posted its quarterly earnings results on Monday, August 1st. The investment management company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.05. Equities analysts forecast that Gladstone Investment Corp. will post $0.76 earnings per share for the current year.
The business also recently declared a monthly dividend, which will be paid on Friday, September 30th. Stockholders of record on Wednesday, September 21st will be given a dividend of $0.0625 per share. The ex-dividend date is Monday, September 19th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 9.32%.
A hedge fund recently raised its stake in Gladstone Investment Corp. stock. Morgan Stanley increased its position in shares of Gladstone Investment Corp. (NASDAQ:GAIN) by 7.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 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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