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

Gladstone Investment Co. (NASDAQ:GAIN – Get Rating) declared a monthly dividend on Friday, April 15th, Wall Street Journal reports. Investors of record on Wednesday, June 22nd will be given a dividend of 0.075 per share by the investment management company on Thursday, June 30th. This represents a $0.90 annualized dividend and a yield of 5.57%. The ex-dividend date of this dividend is Tuesday, June 21st.

Gladstone Investment has a dividend payout ratio of 97.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Gladstone Investment to earn $0.92 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 97.8%.

Shares of GAIN stock opened at $16.17 on Friday. The company has a market capitalization of $537.01 million, a P/E ratio of 5.05, a price-to-earnings-growth ratio of 5.84 and a beta of 1.56. The company’s 50 day moving average price is $15.60 and its two-hundred day moving average price is $15.80. Gladstone Investment has a 52 week low of $12.50 and a 52 week high of $17.15.

Gladstone Investment (NASDAQ:GAIN – Get Rating) last announced its earnings results on Tuesday, February 8th. The investment management company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.23 by $0.02. The firm had revenue of $16.74 million for the quarter, compared to the consensus estimate of $18.05 million. Gladstone Investment had a net margin of 151.59% and a return on equity of 7.29%. During the same period last year, the company posted $0.24 EPS. On average, sell-side analysts forecast that Gladstone Investment will post 0.96 earnings per share for the current year.

Several analysts have commented on the stock. StockNews.com assumed coverage on shares of Gladstone Investment in a report on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research downgraded shares of Gladstone Investment from a “buy” rating to a “hold” rating in a report on Tuesday.

In other news, President David A. R. Dullum bought 5,500 shares of the stock in a transaction that occurred on Thursday, February 24th. The shares were acquired at an average cost of $14.56 per share, for a total transaction of $80,080.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.61% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in GAIN. Invesco Ltd. bought a new position in Gladstone Investment during the fourth quarter worth $707,000. BlackRock Inc. boosted its position in shares of Gladstone Investment by 8.0% in the fourth quarter. BlackRock Inc. now owns 264,702 shares of the investment management company’s stock valued at $4,522,000 after acquiring an additional 19,496 shares during the period. Morgan Stanley lifted its position in Gladstone Investment by 9.3% during the second quarter. Morgan Stanley now owns 162,236 shares of the investment management company’s stock worth $2,337,000 after purchasing an additional 13,790 shares during the period. Jane Street Group LLC bought a new stake in Gladstone Investment during the third quarter worth about $171,000. Finally, Millennium Management LLC bought a new stake in Gladstone Investment during the second quarter worth about $146,000. 12.21% of the stock is owned by hedge funds and other institutional investors.

Gladstone Investment Company Profile (Get Rating)

Gladstone Investment Corporation 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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