Gladstone Investment Corp. (GAIN) Plans $0.06 Monthly Dividend
Gladstone Investment Corp. (NASDAQ:GAIN) declared a monthly dividend on Wednesday, October 12th. Investors of record on Tuesday, December 20th will be paid a dividend of 0.0625 per share by the investment management company on Friday, December 30th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 8.29%. The ex-dividend date is Friday, December 16th.
Gladstone Investment Corp. (NASDAQ:GAIN) opened at 9.05 on Thursday. Gladstone Investment Corp. has a one year low of $6.40 and a one year high of $9.30. The company’s 50 day moving average price is $8.93 and its 200-day moving average price is $7.72.
Gladstone Investment Corp. (NASDAQ:GAIN) last released 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 return on equity of 8.04% and a net margin of 77.56%. On average, analysts forecast that Gladstone Investment Corp. will post $0.78 earnings per share for the current fiscal year.
A number of analysts have issued reports on GAIN shares. Jefferies Group reaffirmed a “hold” rating on shares of Gladstone Investment Corp. in a research note on Friday, August 5th. Zacks Investment Research downgraded Gladstone Investment Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday.
In other news, COO Terry Lee Brubaker sold 49,414 shares of Gladstone Investment Corp. stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $8.73, for a total value of $431,384.22. Following the completion of the transaction, the chief operating officer now owns 232,598 shares in the company, valued at approximately $2,030,580.54. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.10% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the company. BlackRock Group LTD boosted its position in shares of Gladstone Investment Corp. by 14.6% in the second quarter. BlackRock Group LTD now owns 162,379 shares of the investment management company’s stock worth $1,163,000 after buying an additional 20,652 shares during the period. Janney Montgomery Scott LLC boosted its position 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 worth $2,312,000 after buying an additional 170,249 shares during the period. Raymond James & Associates boosted its position 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 worth $155,000 after buying an additional 5,124 shares during the period. Nuveen Fund Advisors LLC bought a new position in shares of Gladstone Investment Corp. during the second quarter worth approximately $874,000. Finally, Van ECK Associates Corp boosted its position 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 worth $922,000 after buying an additional 14,912 shares during the period. Hedge funds and other institutional investors own 15.37% of the company’s stock.
About Gladstone Investment Corp.
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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