Gladstone Investment Corp. (GAIN) Sees Large Volume Increase
Gladstone Investment Corp. (NASDAQ:GAIN) saw unusually-strong trading volume on Tuesday . Approximately 310,967 shares changed hands during 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.
A number of research analysts recently issued reports on GAIN shares. Janney Montgomery Scott started coverage on Gladstone Investment Corp. in a research note on Friday, April 29th. They set a “buy” rating on the stock. Zacks Investment Research upgraded Gladstone Investment Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, May 17th. TheStreet upgraded Gladstone Investment Corp. from a “hold” rating to a “buy” rating in a research note on Friday, June 10th. Finally, Jefferies Group restated a “hold” rating on shares of Gladstone Investment Corp. in a research note on Friday, August 5th.
The firm’s 50-day moving average is $7.78 and its 200 day moving average is $7.15.
Gladstone Investment Corp. (NASDAQ:GAIN) last issued its earnings results on Monday, August 1st. The investment management company reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.05. On average, analysts predict that Gladstone Investment Corp. will post $0.78 earnings per share for the current year.
The firm also recently declared a monthly dividend, which will be paid on Friday, September 30th. Investors of record on Wednesday, September 21st will be paid a $0.0625 dividend. This represents a $0.75 annualized dividend and a dividend yield of 8.45%. The ex-dividend date of this dividend is Monday, September 19th.
In related news, COO Terry Lee Brubaker sold 49,414 shares of the business’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $8.73, for a total value of $431,384.22. Following the transaction, the chief operating officer now owns 232,598 shares in the company, valued at $2,030,580.54. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
An institutional investor recently raised its position in Gladstone Investment Corp. stock. Morgan Stanley raised its stake in Gladstone Investment Corp. (NASDAQ:GAIN) by 7.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm 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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