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

Gladstone Investment Corporation (NASDAQ:GAIN - Get Free Report) declared a monthly dividend on Thursday, July 10th, NASDAQ Dividends reports. Shareholders of record on Monday, July 21st will be paid a dividend of 0.08 per share by the investment management company on Thursday, July 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.80%. The ex-dividend date of this dividend is Monday, July 21st.

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 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 Stock Up 0.1%

Shares of Gladstone Investment stock traded up $0.02 during mid-day trading on Monday, reaching $14.12. 189,313 shares of the stock traded hands, compared to its average volume of 144,976. The business has a 50-day moving average of $14.29 and a 200 day moving average of $13.70. The stock has a market capitalization of $520.14 million, a PE ratio of 7.93 and a beta of 0.87. Gladstone Investment has a fifty-two week low of $11.42 and a fifty-two week high of $15.34.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its stake in Gladstone Investment by 6.8% during the first 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 in the last quarter. Jane Street Group LLC acquired a new position in Gladstone Investment during the first quarter worth $302,000. NewEdge Advisors LLC lifted its stake in Gladstone Investment by 6.2% during the first 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 in the last quarter. Finally, Focus Partners Wealth acquired a new position in Gladstone Investment during the first quarter worth $261,000. 11.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GAIN has been the subject of several analyst reports. B. Riley upgraded Gladstone Investment to a "hold" rating in a research report on Monday, June 16th. LADENBURG THALM/SH SH reiterated a "neutral" rating on shares of Gladstone Investment in a research report on Wednesday, May 14th. Finally, Citigroup cut 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.