Gladstone Investment Co. to Issue Monthly Dividend of $0.08 (NASDAQ:GAIN)

Gladstone Investment Co. (NASDAQ:GAIN - Get Free Report) announced a monthly dividend on Monday, April 15th, Wall Street Journal reports. Stockholders of record on Wednesday, June 19th will be given a dividend of 0.08 per share by the investment management company on Friday, June 28th. This represents a $0.96 annualized dividend and a dividend yield of 6.92%. The ex-dividend date is Tuesday, June 18th.

Gladstone Investment has increased its dividend by an average of 4.6% annually over the last three years. Gladstone Investment has a payout ratio of 86.5% meaning 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 $1.05 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 91.4%.

Gladstone Investment Price Performance

Shares of GAIN traded down $0.06 during trading hours on Monday, hitting $13.87. The stock had a trading volume of 102,974 shares, compared to its average volume of 178,025. The company's fifty day moving average is $13.98 and its two-hundred day moving average is $14.00. Gladstone Investment has a 52 week low of $12.14 and a 52 week high of $14.96. The stock has a market capitalization of $508.89 million, a price-to-earnings ratio of 6.97 and a beta of 1.36.

Gladstone Investment (NASDAQ:GAIN - Get Free Report) last posted its earnings results on Tuesday, February 6th. The investment management company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.01). Gladstone Investment had a return on equity of 7.79% and a net margin of 80.68%. The firm had revenue of $23.08 million during the quarter, compared to the consensus estimate of $24.04 million. Equities analysts predict that Gladstone Investment will post 1.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Gladstone Investment

A number of hedge funds have recently added to or reduced their stakes in GAIN. Millennium Management LLC grew its holdings in Gladstone Investment by 495.9% during the 4th quarter. Millennium Management LLC now owns 489,618 shares of the investment management company's stock worth $6,321,000 after acquiring an additional 407,451 shares during the last quarter. Baird Financial Group Inc. bought a new position in shares of Gladstone Investment in the 3rd quarter valued at about $1,248,000. Marshall Wace LLP bought a new position in shares of Gladstone Investment in the 3rd quarter valued at about $525,000. Two Sigma Investments LP boosted its stake in shares of Gladstone Investment by 26.1% in the 4th quarter. Two Sigma Investments LP now owns 186,773 shares of the investment management company's stock valued at $2,411,000 after purchasing an additional 38,665 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of Gladstone Investment in the 3rd quarter valued at about $490,000. 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.