Gladstone Investment Corp. (GAIN) Reaches New 52-Week High at $8.89
Gladstone Investment Corp. (NASDAQ:GAIN)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $8.89 and last traded at $8.87, with a volume of 173,038 shares traded. The stock had previously closed at $8.85.
GAIN has been the topic of several research reports. Janney Montgomery Scott initiated coverage on shares of Gladstone Investment Corp. in a research note on Friday, April 29th. They issued a “buy” rating on the stock. 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 company has a 50-day moving average price of $7.78 and a 200 day moving average price of $7.15.
Gladstone Investment Corp. (NASDAQ:GAIN) last announced its quarterly earnings data on Monday, August 1st. The investment management company reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.05. On average, equities analysts forecast that Gladstone Investment Corp. will post $0.78 earnings per share for the current fiscal year.
The company also recently disclosed a monthly dividend, which will be paid on Friday, September 30th. Shareholders of record on Wednesday, September 21st will be given a dividend of $0.0625 per share. The ex-dividend date is Monday, September 19th. This represents a $0.75 dividend on an annualized basis and a yield of 8.45%.
In other Gladstone Investment Corp. news, COO Terry Lee Brubaker sold 49,414 shares of the company’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $8.73, for a total transaction of $431,384.22. Following the completion of the transaction, the chief operating officer now owns 232,598 shares in the company, valued at approximately $2,030,580.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
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 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 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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