Gladstone Investment Corp. Declares Monthly Dividend of $0.06 (GAIN)
Gladstone Investment Corp. (NASDAQ:GAIN) announced a monthly dividend on Wednesday, October 12th. Shareholders of record on Thursday, November 17th will be paid a dividend of 0.0625 per share by the investment management company on Wednesday, November 30th. This represents a $0.75 annualized dividend and a dividend yield of 8.29%. The ex-dividend date of this dividend is Tuesday, November 15th.
Shares of Gladstone Investment Corp. (NASDAQ:GAIN) opened at 9.05 on Thursday. Gladstone Investment Corp. has a 52 week low of $6.40 and a 52 week high of $9.30. The firm has a 50 day moving average of $8.93 and a 200 day moving average of $7.72.
Gladstone Investment Corp. (NASDAQ:GAIN) last announced its earnings results on Monday, August 1st. The investment management company reported $0.23 EPS for the quarter, topping the 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%. Equities research analysts forecast that Gladstone Investment Corp. will post $0.78 earnings per share for the current fiscal year.
In other Gladstone Investment Corp. news, COO Terry Lee Brubaker sold 49,414 shares of the firm’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $8.73, for a total value of $431,384.22. Following the sale, the chief operating officer now directly owns 232,598 shares in the company, valued at approximately $2,030,580.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.10% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of GAIN. KCG Holdings Inc. raised its stake 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. Van ECK Associates Corp raised its stake in shares of 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 during the period. Nuveen Fund Advisors LLC acquired a new stake in shares of Gladstone Investment Corp. during the second quarter valued at $874,000. Raymond James & Associates raised its stake in shares of 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 during the period. Finally, Janney Montgomery Scott LLC raised its stake in shares of 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 valued at $2,312,000 after buying an additional 170,249 shares during the period. Institutional investors own 15.37% of the company’s stock.
GAIN has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Gladstone Investment Corp. from a “hold” rating to a “strong-buy” rating and set a $9.25 price target on the stock in a research report on Wednesday, August 3rd. Jefferies Group restated a “hold” rating on shares of Gladstone Investment Corp. in a research report on Friday, August 5th.
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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