Gladstone Investment Corp. (GAIN) Reaches New 52-Week High at $9.08
Gladstone Investment Corp. (NASDAQ:GAIN)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $9.08 and last traded at $9.07, with a volume of 193,907 shares trading hands. The stock had previously closed at $8.90.
Several equities research analysts have commented on GAIN shares. TheStreet upgraded Gladstone Investment Corp. from a “hold” rating to a “buy” rating in a research note on Friday, June 10th. Janney Montgomery Scott reiterated a “neutral” rating and set a $8.00 price objective on shares of Gladstone Investment Corp. in a research note on Monday, May 2nd. Zacks Investment Research lowered Gladstone Investment Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, May 24th. Finally, Jefferies Group reiterated a “hold” rating on shares of Gladstone Investment Corp. in a research note on Friday, August 5th.
The company has a 50 day moving average of $7.92 and a 200-day moving average of $7.19.
Gladstone Investment Corp. (NASDAQ:GAIN) last announced its quarterly earnings data on Monday, August 1st. The investment management company reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.05. Equities analysts expect that Gladstone Investment Corp. will post $0.78 EPS for the current year.
The company also recently disclosed a monthly dividend, which will be paid on Friday, September 30th. Investors of record on Wednesday, September 21st will be given a $0.0625 dividend. The ex-dividend date is Monday, September 19th. This represents a $0.75 dividend on an annualized basis and a yield of 8.43%.
In related 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 completion of the sale, the chief operating officer now owns 232,598 shares in the company, valued at $2,030,580.54. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
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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