Gladstone Investment Corp. (GAIN) Shares Gap Up to $8.38
Gladstone Investment Corp. (NASDAQ:GAIN) gapped up before the market opened on Tuesday . The stock had previously closed at $8.32, but opened at $8.38. Gladstone Investment Corp. shares last traded at $8.51, with a volume of 271,639 shares traded.
Several equities research analysts recently weighed in on the company. TheStreet upgraded Gladstone Investment Corp. from a “hold” rating to a “buy” rating in a research note on Friday, June 10th. Janney Montgomery Scott restated a “neutral” rating and set a $8.00 target price on shares of Gladstone Investment Corp. in a research note on Monday, May 2nd. Zacks Investment Research cut Gladstone Investment Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, May 24th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Gladstone Investment Corp. in a research report on Friday, August 5th.
The company has a 50-day moving average of $7.54 and a 200-day moving average of $7.09.
Gladstone Investment Corp. (NASDAQ:GAIN) last posted its earnings results on Monday, August 1st. The investment management company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.05. Equities analysts forecast that Gladstone Investment Corp. will post $0.76 earnings per share for the current fiscal 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 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 dividend yield of 8.75%.
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 (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 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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