Gladstone Investment Corp. (GAIN) Shares Gap Up to $7.80
Gladstone Investment Corp. (NASDAQ:GAIN) shares gapped up prior to trading on Wednesday . The stock had previously closed at $7.76, but opened at $7.80. Gladstone Investment Corp. shares last traded at $7.97, with a volume of 186,281 shares.
GAIN has been the topic of a number of research reports. Zacks Investment Research raised shares of Gladstone Investment Corp. from a “sell” rating to a “hold” rating in a research report on Monday, July 25th. Janney Montgomery Scott initiated coverage on shares of Gladstone Investment Corp. in a research report on Friday, April 29th. They set a “buy” rating on the stock. Finally, TheStreet raised shares of Gladstone Investment Corp. from a “hold” rating to a “buy” rating in a research report on Friday, June 10th.
The company’s 50-day moving average price is $7.36 and its 200-day moving average price is $7.05.
Gladstone Investment Corp. (NASDAQ:GAIN) last announced its quarterly earnings results on Monday, August 1st. The investment management company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.05. Equities research analysts expect that Gladstone Investment Corp. will post $0.74 earnings per share for the current fiscal year.
The company 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 9.21%.
A hedge fund recently raised its stake in Gladstone Investment Corp. stock. Morgan Stanley boosted its stake in shares of 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 filing with the SEC.
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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