Gladstone Investment Corp. (GAIN) Sees Large Volume Increase
Shares of Gladstone Investment Corp. (NASDAQ:GAIN) saw unusually-high trading volume on Tuesday . Approximately 310,967 shares traded hands during mid-day trading, an increase of 6% from the previous session’s volume of 292,234 shares.The stock last traded at $8.85 and had previously closed at $8.74.
GAIN has been the subject of a number of recent research reports. TheStreet upgraded shares of Gladstone Investment Corp. from a “hold” rating to a “buy” rating in a report on Friday, June 10th. Zacks Investment Research downgraded shares of Gladstone Investment Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, May 24th. Jefferies Group reiterated a “hold” rating on shares of Gladstone Investment Corp. in a report on Friday, August 5th. Finally, Janney Montgomery Scott reiterated a “neutral” rating and issued a $8.00 target price on shares of Gladstone Investment Corp. in a report on Monday, May 2nd.
The company has a 50-day moving average price of $7.67 and a 200 day moving average price of $7.13.
Gladstone Investment Corp. (NASDAQ:GAIN) last posted its earnings results on Monday, August 1st. The investment management company reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.05. On average, equities analysts predict that Gladstone Investment Corp. will post $0.78 EPS for the current year.
The firm 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 $0.0625 dividend. This represents a $0.75 annualized dividend and a dividend yield of 8.47%. The ex-dividend date is Monday, September 19th.
A hedge fund recently raised its stake in Gladstone Investment Corp. stock. Morgan Stanley raised its stake 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. 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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