Gladstone Investment Corp. (GAIN) Hits New 12-Month High at $9.15
Gladstone Investment Corp. (NASDAQ:GAIN) shares reached a new 52-week high on Monday . The company 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.
A number of research analysts have weighed in on GAIN shares. Zacks Investment Research raised shares of Gladstone Investment Corp. from a “hold” rating to a “strong-buy” rating and set a $9.25 target price for the company in a research report on Wednesday, August 3rd. Jefferies Group reissued a “hold” rating on shares of Gladstone Investment Corp. in a research report on Friday, August 5th. 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 stock has a 50-day moving average of $8.20 and a 200-day moving average of $7.29.
Gladstone Investment Corp. (NASDAQ:GAIN) last issued its quarterly earnings data on Monday, August 1st. The investment management company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.05. Analysts expect that Gladstone Investment Corp. will post $0.78 earnings per share for the current year.
The business also recently disclosed 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. This represents a $0.75 annualized dividend and a dividend yield of 8.12%. The ex-dividend date of this dividend is Monday, September 19th.
In other news, COO Terry Lee Brubaker sold 49,414 shares of the stock in a transaction on 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 sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed 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.