Gladstone Investment Corp. (GAIN) Reaches New 52-Week High at $9.08
Shares of Gladstone Investment Corp. (NASDAQ:GAIN) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $9.08 and last traded at $9.07, with a volume of 193,907 shares. The stock had previously closed at $8.90.
Several analysts have 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 for the company. 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 reiterated 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 of $8.00 and a 200-day moving average of $7.21.
Gladstone Investment Corp. (NASDAQ:GAIN) last released its quarterly earnings results on Monday, August 1st. The investment management company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.05. On average, equities research analysts forecast that Gladstone Investment Corp. will post $0.78 EPS for the current fiscal 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. 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 8.30%.
In other news, COO Terry Lee Brubaker sold 49,414 shares of Gladstone Investment Corp. stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $8.73, for a total value of $431,384.22. Following the completion of the sale, the chief operating officer now directly owns 232,598 shares in the company, valued at $2,030,580.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.