Gladstone Investment Corp. (GAIN) Plans Monthly Dividend of $0.06
Gladstone Investment Corp. (NASDAQ:GAIN) declared a monthly dividend on Wednesday, October 12th. Investors of record on Thursday, November 17th will be paid a dividend of 0.0625 per share by the investment management company on Wednesday, November 30th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 8.29%. The ex-dividend date is Tuesday, November 15th.
Shares of Gladstone Investment Corp. (NASDAQ:GAIN) traded up 1.57% during trading on Wednesday, hitting $9.05. The company had a trading volume of 79,478 shares. The firm has a 50 day moving average of $8.93 and a 200 day moving average of $7.71. Gladstone Investment Corp. has a 12-month low of $6.40 and a 12-month high of $9.30.
Gladstone Investment Corp. (NASDAQ:GAIN) last announced its 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. Gladstone Investment Corp. had a return on equity of 8.04% and a net margin of 77.56%. Equities analysts forecast that Gladstone Investment Corp. will post $0.78 earnings per share for the current fiscal year.
Several research analysts have recently commented on GAIN shares. Zacks Investment Research raised Gladstone Investment Corp. from a “hold” rating to a “strong-buy” rating and set a $9.25 target price on the stock in a report on Wednesday, August 3rd. Jefferies Group reissued a “hold” rating on shares of Gladstone Investment Corp. in a report on Friday, August 5th.
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 stock was sold at an average price of $8.73, for a total transaction of $431,384.22. Following the transaction, the chief operating officer now owns 232,598 shares of the company’s stock, valued at approximately $2,030,580.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 3.10% of the company’s stock.
Several hedge funds have recently modified their holdings of GAIN. Janney Montgomery Scott LLC boosted its stake in shares of Gladstone Investment Corp. by 111.5% in the second quarter. Janney Montgomery Scott LLC now owns 322,946 shares of the investment management company’s stock valued at $2,312,000 after buying an additional 170,249 shares during the last quarter. Nuveen Fund Advisors LLC acquired a new stake in shares of Gladstone Investment Corp. during the second quarter valued at approximately $874,000. BlackRock Group LTD boosted its stake in shares of Gladstone Investment Corp. by 14.6% in the second quarter. BlackRock Group LTD now owns 162,379 shares of the investment management company’s stock valued at $1,163,000 after buying an additional 20,652 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Gladstone Investment Corp. by 13.1% in the second quarter. Van ECK Associates Corp now owns 128,746 shares of the investment management company’s stock valued at $922,000 after buying an additional 14,912 shares during the last quarter. Finally, Raymond James & Associates boosted its stake in shares of Gladstone Investment Corp. by 31.1% in the second quarter. Raymond James & Associates now owns 21,614 shares of the investment management company’s stock valued at $155,000 after buying an additional 5,124 shares during the last quarter. Institutional investors own 15.37% of the company’s stock.
About Gladstone Investment Corp.
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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