Gladstone Investment Corporation (NASDAQ:GAIN) hit a new 52-week high during mid-day trading on Monday after the company announced a dividend. The company traded as high as $9.93 and last traded at $9.93, with a volume of 114,413 shares trading hands. The stock had previously closed at $9.84.

The newly announced dividend which will be paid on Friday, December 15th. Stockholders of record on Tuesday, December 5th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, December 4th. This represents a dividend yield of 7.93%. Gladstone Investment Corporation’s payout ratio is 82.80%.

Several equities analysts have recently commented on the stock. Zacks Investment Research raised shares of Gladstone Investment Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. ValuEngine raised shares of Gladstone Investment Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Jefferies Group LLC reiterated a “hold” rating and set a $9.00 price objective on shares of Gladstone Investment Corporation in a research note on Wednesday, August 16th. Finally, BidaskClub lowered shares of Gladstone Investment Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $9.50.

The firm has a 50 day moving average of $9.38 and a 200-day moving average of $9.37.

Gladstone Investment Corporation (NASDAQ:GAIN) last issued its earnings results on Tuesday, August 1st. The investment management company reported $0.17 earnings per share for the quarter, meeting the consensus estimate of $0.17. Gladstone Investment Corporation had a net margin of 55.52% and a return on equity of 6.95%. The business had revenue of $13.62 million for the quarter, compared to analyst estimates of $13.01 million. Equities research analysts forecast that Gladstone Investment Corporation will post $0.70 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its position in Gladstone Investment Corporation by 0.4% in the second quarter. Royal Bank of Canada now owns 24,110 shares of the investment management company’s stock valued at $227,000 after buying an additional 106 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in Gladstone Investment Corporation by 0.8% in the second quarter. Parametric Portfolio Associates LLC now owns 18,727 shares of the investment management company’s stock valued at $176,000 after buying an additional 148 shares in the last quarter. Wells Fargo & Company MN boosted its position in Gladstone Investment Corporation by 2.6% in the second quarter. Wells Fargo & Company MN now owns 41,031 shares of the investment management company’s stock valued at $386,000 after buying an additional 1,048 shares in the last quarter. Tudor Investment Corp ET AL boosted its position in Gladstone Investment Corporation by 10.7% in the second quarter. Tudor Investment Corp ET AL now owns 11,952 shares of the investment management company’s stock valued at $112,000 after buying an additional 1,152 shares in the last quarter. Finally, Stratos Wealth Partners LTD. boosted its position in Gladstone Investment Corporation by 19.5% in the second quarter. Stratos Wealth Partners LTD. now owns 14,614 shares of the investment management company’s stock valued at $137,000 after buying an additional 2,382 shares in the last quarter. Hedge funds and other institutional investors own 17.97% of the company’s stock.

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About Gladstone Investment Corporation

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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