Gladstone Investment Co. (NASDAQ:GAIN) declared a monthly dividend on Wednesday, January 10th, Wall Street Journal reports. Investors of record on Tuesday, March 20th will be paid a dividend of 0.065 per share by the investment management company on Friday, March 30th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 7.49%. The ex-dividend date of this dividend is Monday, March 19th.
GAIN stock opened at $10.42 on Wednesday. Gladstone Investment has a 12-month low of $8.63 and a 12-month high of $11.50. The company has a market capitalization of $336.32, a price-to-earnings ratio of 13.79 and a beta of 0.52.
Gladstone Investment (NASDAQ:GAIN) last issued its quarterly earnings results on Tuesday, February 6th. The investment management company reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.05. Gladstone Investment had a return on equity of 7.46% and a net margin of 87.19%. The company had revenue of $16.18 million for the quarter, compared to analysts’ expectations of $13.42 million. equities analysts forecast that Gladstone Investment will post 0.77 earnings per share for the current fiscal year.
A number of brokerages recently commented on GAIN. Zacks Investment Research cut Gladstone Investment from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. ValuEngine upgraded Gladstone Investment from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. BidaskClub cut Gladstone Investment from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 23rd. Ladenburg Thalmann Financial Services upgraded Gladstone Investment from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 7th. Finally, Wedbush upgraded Gladstone Investment from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $9.56 to $11.00 in a research report on Tuesday, March 6th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $10.67.
In other Gladstone Investment news, President David A. R. Dullum bought 5,000 shares of the firm’s stock in a transaction on Monday, March 5th. The shares were purchased at an average price of $9.56 per share, for a total transaction of $47,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.40% of the company’s stock.
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About Gladstone Investment
Gladstone Investment Corporation is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objectives are to achieve and grow current income by investing in debt securities of established businesses that it believes will provide stable earnings and cash flow to pay expenses, make principal and interest payments on its outstanding indebtedness and make distributions to stockholders that grow over time, and provide its stockholders with long-term capital appreciation in the value of its assets by investing in equity securities, generally in combination with the aforementioned debt securities, of businesses that it believes can grow over time to permit it to sell its equity investments for capital gains.
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