Gladstone Investment Corp. (GAIN) to Issue $0.06 Monthly Dividend
Gladstone Investment Corp. (NASDAQ:GAIN) declared a monthly dividend on Wednesday, October 12th. Stockholders 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 annualized dividend and a dividend yield of 8.29%. The ex-dividend date is Wednesday, October 19th.
Shares of Gladstone Investment Corp. (NASDAQ:GAIN) traded up 1.57% on Wednesday, hitting $9.05. 79,478 shares of the stock traded hands. Gladstone Investment Corp. has a 52 week low of $6.40 and a 52 week high of $9.30. The stock has a 50 day moving average price of $8.93 and a 200-day moving average price of $7.71.
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 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 analysts predict that Gladstone Investment Corp. will post $0.78 earnings per share for the current fiscal year.
A number of brokerages have issued reports on GAIN. Zacks Investment Research downgraded shares of Gladstone Investment Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday. Jefferies Group reaffirmed a “hold” rating on shares of Gladstone Investment Corp. in a research report on Friday, August 5th.
In other Gladstone Investment Corp. news, COO Terry Lee Brubaker sold 49,414 shares of the business’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 transaction, the chief operating officer now directly owns 232,598 shares in the company, valued at $2,030,580.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.10% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GAIN. KCG Holdings Inc. boosted 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 worth $168,000 after buying an additional 2,521 shares during the last quarter. Van ECK Associates Corp boosted 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 worth $922,000 after buying an additional 14,912 shares during the last quarter. Nuveen Fund Advisors LLC bought a new position in Gladstone Investment Corp. during the second quarter worth $874,000. Raymond James & Associates boosted 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 worth $155,000 after buying an additional 5,124 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in 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 worth $2,312,000 after buying an additional 170,249 shares during the last quarter. Hedge funds and other institutional investors 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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