Gladstone Investment Corp. (GAIN) Reaches New 1-Year High at $8.70
Gladstone Investment Corp. (NASDAQ:GAIN) reached a new 52-week high during trading on Thursday . The company traded as high as $8.70 and last traded at $8.66, with a volume of 183,563 shares changing hands. The stock had previously closed at $8.57.
A number of equities research analysts have commented on GAIN shares. Jefferies Group reissued a “hold” rating on shares of Gladstone Investment Corp. in a report on Friday, August 5th. Zacks Investment Research raised Gladstone Investment Corp. from a “hold” rating to a “strong-buy” rating and set a $9.25 price target on the stock in a report on Wednesday, August 3rd. Janney Montgomery Scott started coverage on Gladstone Investment Corp. in a report on Friday, April 29th. They set a “buy” rating on the stock. Finally, TheStreet raised Gladstone Investment Corp. from a “hold” rating to a “buy” rating in a report on Friday, June 10th.
The stock has a 50 day moving average of $7.54 and a 200 day moving average of $7.09.
Gladstone Investment Corp. (NASDAQ:GAIN) last announced its quarterly earnings data on Monday, August 1st. The investment management company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.05. Equities analysts anticipate that Gladstone Investment Corp. will post $0.76 earnings per share for the current fiscal year.
The business also recently disclosed a monthly dividend, which will be paid on Friday, September 30th. Stockholders of record on Wednesday, September 21st will be issued a dividend of $0.0625 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 8.75%. 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 13F filing with the Securities and Exchange Commission (SEC). The fund 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 reporting period.
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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