Gladstone Investment Corp. (GAIN) To Go Ex-Dividend on October 19th
Gladstone Investment Corp. (NASDAQ:GAIN) declared a monthly dividend on Wednesday, October 12th. Shareholders of record on Friday, October 21st will be paid a dividend of 0.0625 per share by the investment management company on Monday, October 31st. This represents a $0.75 dividend on an annualized basis and a yield of 8.70%. The ex-dividend date is Wednesday, October 19th.
Gladstone Investment Corp. (NASDAQ:GAIN) opened at 8.62 on Tuesday. Gladstone Investment Corp. has a 12 month low of $6.40 and a 12 month high of $9.30. The firm’s 50-day moving average is $8.92 and its 200-day moving average is $7.76.
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 Zacks’ consensus estimate of $0.18 by $0.05. Gladstone Investment Corp. had a net margin of 77.56% and a return on equity of 8.04%. On average, equities research analysts forecast that Gladstone Investment Corp. will post $0.78 earnings per share for the current fiscal year.
A number of analysts have weighed in on the stock. Zacks Investment Research raised shares of Gladstone Investment Corp. from a “sell” rating to a “hold” rating in a report on Monday, July 25th. Jefferies Group reissued a “hold” rating on shares of Gladstone Investment Corp. in a report on Friday, August 5th.
In other news, COO Terry Lee Brubaker sold 49,414 shares of the company’s stock in a transaction dated 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 $2,030,580.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.10% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Raymond James & Associates raised its position in 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 in the last quarter. KCG Holdings Inc. raised its position in Gladstone Investment Corp. by 12.1% in the second quarter. KCG Holdings Inc. now owns 23,400 shares of the investment management company’s stock valued at $168,000 after buying an additional 2,521 shares in the last quarter. Nuveen Fund Advisors LLC purchased a new position in Gladstone Investment Corp. during the second quarter valued at approximately $874,000. Van ECK Associates Corp raised its position in 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 in the last quarter. Finally, BlackRock Group LTD raised its position in 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 in the last quarter. Institutional investors and hedge funds own 15.37% of the company’s stock.
Gladstone Investment Corp. Company Profile
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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