Gladstone Investment Corp. (GAIN) Sees Unusually-High Trading Volume
Shares of Gladstone Investment Corp. (NASDAQ:GAIN) saw unusually-high trading volume on Monday . Approximately 455,805 shares changed hands during trading, an increase of 106% from the previous session’s volume of 221,157 shares.The stock last traded at $8.27 and had previously closed at $8.05.
GAIN has been the subject of a number of research analyst reports. Janney Montgomery Scott initiated coverage on Gladstone Investment Corp. in a 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 report on Tuesday, May 17th. TheStreet upgraded Gladstone Investment Corp. from a “hold” rating to a “buy” rating in a report on Friday, June 10th. Finally, Jefferies Group reiterated a “hold” rating on shares of Gladstone Investment Corp. in a report on Friday.
The stock has a 50 day moving average of $7.45 and a 200 day moving average of $7.07.
Gladstone Investment Corp. (NASDAQ:GAIN) last released its earnings results on Monday, August 1st. The investment management company reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.05. Analysts expect that Gladstone Investment Corp. will post $0.76 EPS for the current year.
The business also recently announced 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. This represents a $0.75 dividend on an annualized basis and a dividend yield of 8.95%. The ex-dividend date of this dividend is Monday, September 19th.
An institutional investor recently raised its position 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 disclosure with the Securities and Exchange Commission. 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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