Gladstone Investment Corp. (GAIN) Reaches New 52-Week High at $8.70
Gladstone Investment Corp. (NASDAQ:GAIN)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $8.70 and last traded at $8.66, with a volume of 183,563 shares trading hands. The stock had previously closed at $8.57.
GAIN has been the subject of several analyst reports. Janney Montgomery Scott initiated coverage on shares of Gladstone Investment Corp. in a research note on Friday, April 29th. They set a “buy” rating for the company. Zacks Investment Research raised shares of Gladstone Investment Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, May 17th. TheStreet raised shares of Gladstone Investment Corp. from a “hold” rating to a “buy” rating in a research note on Friday, June 10th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Gladstone Investment Corp. in a research note on Friday, August 5th.
The firm has a 50-day moving average price of $7.63 and a 200 day moving average price of $7.12.
Gladstone Investment Corp. (NASDAQ:GAIN) last issued its quarterly earnings data on Monday, August 1st. The investment management company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.18 by $0.05. On average, equities analysts forecast that Gladstone Investment Corp. will post $0.78 EPS for the current fiscal year.
The business also recently declared 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 8.64%.
An institutional investor recently raised its position in Gladstone Investment Corp. stock. Morgan Stanley increased 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 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 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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