Gladstone Investment Corporation (NASDAQ:GAIN) Plans $0.08 Monthly Dividend

Gladstone Investment Corporation (NASDAQ:GAIN - Get Free Report) announced a monthly dividend on Monday, July 14th, Wall Street Journal reports. Investors of record on Monday, September 22nd will be paid a dividend of 0.08 per share by the investment management company on Tuesday, September 30th. This represents a $0.96 annualized dividend and a yield of 6.73%. The ex-dividend date of this dividend is Monday, September 22nd.

Gladstone Investment has a dividend payout ratio of 91.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Research analysts expect Gladstone Investment to earn $0.94 per share next year, which means the company may not be able to cover its $0.96 annual dividend with an expected future payout ratio of 102.1%.

Gladstone Investment Trading Up 0.3%

GAIN traded up $0.04 on Thursday, hitting $14.26. 228,899 shares of the company's stock traded hands, compared to its average volume of 145,806. Gladstone Investment has a one year low of $11.42 and a one year high of $15.34. The company's 50 day simple moving average is $14.32 and its 200-day simple moving average is $13.72. The firm has a market cap of $525.34 million, a price-to-earnings ratio of 8.01 and a beta of 0.87.

Gladstone Investment (NASDAQ:GAIN - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The investment management company reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.03. Gladstone Investment had a return on equity of 7.31% and a net margin of 69.74%. The business had revenue of $27.55 million for the quarter, compared to the consensus estimate of $24.96 million. As a group, equities analysts anticipate that Gladstone Investment will post 0.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on GAIN shares. B. Riley raised Gladstone Investment to a "hold" rating in a research note on Monday, June 16th. Citigroup downgraded Gladstone Investment to a "neutral" rating in a research note on Wednesday, May 14th. Finally, LADENBURG THALM/SH SH reaffirmed a "neutral" rating on shares of Gladstone Investment in a research note on Wednesday, May 14th.

Hedge Funds Weigh In On Gladstone Investment

A number of institutional investors and hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC boosted its holdings in shares of Gladstone Investment by 6.2% in the 1st quarter. NewEdge Advisors LLC now owns 19,626 shares of the investment management company's stock worth $262,000 after purchasing an additional 1,150 shares during the period. Royal Bank of Canada boosted its holdings in shares of Gladstone Investment by 6.8% in the 1st quarter. Royal Bank of Canada now owns 75,638 shares of the investment management company's stock worth $1,010,000 after purchasing an additional 4,826 shares during the period. Focus Partners Wealth purchased a new position in Gladstone Investment during the 1st quarter valued at $261,000. Finally, Jane Street Group LLC purchased a new position in Gladstone Investment during the 1st quarter valued at $302,000. Hedge funds and other institutional investors own 11.85% of the company's stock.

About Gladstone Investment

Gladstone Investment Corporation is business development company, specializes in lower middle market, mature stage, buyouts; refinancing existing debt; senior debt securities such as senior loans, senior term loans, lines of credit, and senior notes; senior subordinated debt securities such as senior subordinated loans and senior subordinated notes; junior subordinated debt securities such as subordinated notes and mezzanine loans; limited liability company interests, and warrants or options.