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

Gladstone Investment Corporation (NASDAQ:GAIN - Get Free Report) declared a monthly dividend on Friday, July 11th, Wall Street Journal reports. Shareholders of record on Monday, September 22nd will be given 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 6.81%. 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. 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 Price Performance

Shares of Gladstone Investment stock traded down $0.03 during trading on Friday, reaching $14.10. 75,680 shares of the company traded hands, compared to its average volume of 144,493. Gladstone Investment has a 1-year low of $11.42 and a 1-year high of $15.34. The company has a 50 day moving average price of $14.29 and a 200-day moving average price of $13.69. The firm has a market capitalization of $519.55 million, a PE ratio of 7.91 and a beta of 0.87.

Gladstone Investment (NASDAQ:GAIN - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The investment management company reported $0.26 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.03. Gladstone Investment had a net margin of 69.74% and a return on equity of 7.31%. The business had revenue of $27.55 million during the quarter, compared to analyst estimates of $24.96 million. Equities research analysts expect that Gladstone Investment will post 0.96 earnings per share for the current year.

Institutional Investors Weigh In On Gladstone Investment

Several large investors have recently made changes to their positions in the company. Focus Partners Wealth purchased a new position in shares of Gladstone Investment during the first quarter valued at approximately $261,000. NewEdge Advisors LLC raised its stake in Gladstone Investment by 6.2% in the first quarter. NewEdge Advisors LLC now owns 19,626 shares of the investment management company's stock worth $262,000 after buying an additional 1,150 shares in the last quarter. Jane Street Group LLC bought a new position in Gladstone Investment in the first quarter worth approximately $302,000. Finally, Royal Bank of Canada raised its stake in Gladstone Investment by 6.8% in the first quarter. Royal Bank of Canada now owns 75,638 shares of the investment management company's stock worth $1,010,000 after buying an additional 4,826 shares in the last quarter. 11.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GAIN has been the topic of several recent research reports. LADENBURG THALM/SH SH reaffirmed a "neutral" rating on shares of Gladstone Investment in a report on Wednesday, May 14th. B. Riley raised Gladstone Investment to a "hold" rating in a research note on Monday, June 16th. Finally, Citigroup lowered Gladstone Investment to a "neutral" rating in a research note on Wednesday, May 14th.

Gladstone Investment Company Profile

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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