Gladstone Investment Corporation (NASDAQ:GAIN - Get Free Report) announced a monthly dividend on Tuesday, October 14th. Stockholders of record on Monday, November 17th will be given a dividend of 0.08 per share by the investment management company on Wednesday, November 26th. This represents a c) dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date of this dividend is Monday, November 17th.
Gladstone Investment has a payout ratio of 91.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings decline. Equities 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 Stock Up 2.0%
NASDAQ GAIN opened at $13.94 on Wednesday. Gladstone Investment has a 12-month low of $11.42 and a 12-month high of $15.34. The company has a market capitalization of $532.77 million, a PE ratio of 6.42 and a beta of 0.93. The firm's 50 day moving average is $14.02 and its 200-day moving average is $13.98.
Gladstone Investment (NASDAQ:GAIN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The investment management company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.01. Gladstone Investment had a net margin of 83.78% and a return on equity of 7.33%. The company had revenue of $23.54 million for the quarter, compared to the consensus estimate of $23.87 million. As a group, sell-side analysts expect that Gladstone Investment will post 0.96 EPS for the current year.
Hedge Funds Weigh In On Gladstone Investment
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GAIN. Farther Finance Advisors LLC bought a new position in Gladstone Investment during the first quarter worth $71,000. Cornerstone Wealth Management LLC boosted its position in shares of Gladstone Investment by 15.6% in the first quarter. Cornerstone Wealth Management LLC now owns 11,828 shares of the investment management company's stock valued at $158,000 after acquiring an additional 1,600 shares during the period. Realta Investment Advisors bought a new stake in shares of Gladstone Investment in the first quarter valued at about $134,000. Legacy Capital Wealth Partners LLC boosted its position in shares of Gladstone Investment by 11.8% in the first quarter. Legacy Capital Wealth Partners LLC now owns 106,088 shares of the investment management company's stock valued at $1,417,000 after acquiring an additional 11,232 shares during the period. Finally, Hardy Reed LLC bought a new stake in shares of Gladstone Investment in the first quarter valued at about $136,000. 11.85% of the stock is owned by institutional investors.
Gladstone Investment Company Profile
(
Get Free Report)
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.
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