Gladstone Investment Corp. (GAIN) Hits New 12-Month High at $9.15
Gladstone Investment Corp. (NASDAQ:GAIN)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $9.15 and last traded at $9.14, with a volume of 122,003 shares traded. The stock had previously closed at $9.04.
GAIN has been the topic of several recent analyst reports. Jefferies Group reiterated a “hold” rating on shares of Gladstone Investment Corp. in a research report on Friday, August 5th. Zacks Investment Research upgraded Gladstone Investment Corp. from a “sell” rating to a “hold” rating in a research report on Monday, July 11th. Janney Montgomery Scott reiterated a “neutral” rating and set a $8.00 target price on shares of Gladstone Investment Corp. in a research report on Monday, May 2nd. Finally, TheStreet upgraded Gladstone Investment Corp. from a “hold” rating to a “buy” rating in a research report on Friday, June 10th.
The firm has a 50 day moving average price of $8.10 and a 200-day moving average price of $7.24.
Gladstone Investment Corp. (NASDAQ:GAIN) last issued its quarterly earnings results on Monday, August 1st. The investment management company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.18 by $0.05. Equities analysts predict that Gladstone Investment Corp. will post $0.78 earnings per share for the current year.
The business 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 dividend of $0.0625 per share. The ex-dividend date is Monday, September 19th. This represents a $0.75 annualized dividend and a dividend yield of 8.30%.
In other Gladstone Investment Corp. news, COO Terry Lee Brubaker sold 49,414 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The shares were 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 of the company’s stock, valued at $2,030,580.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
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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