Gladstone Investment Corporation (GAIN) Declares $0.07 Monthly Dividend
Gladstone Investment Corporation (NASDAQ:GAIN) announced a monthly dividend on Wednesday, October 11th, Wall Street Journal reports. Investors of record on Monday, November 20th will be paid a dividend of 0.065 per share by the investment management company on Thursday, November 30th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 8.07%. The ex-dividend date is Friday, November 17th.
Shares of Gladstone Investment Corporation (NASDAQ GAIN) traded up 0.363% during midday trading on Wednesday, hitting $9.665. 164,729 shares of the company were exchanged. The firm’s 50 day moving average price is $9.33 and its 200 day moving average price is $9.35. Gladstone Investment Corporation has a one year low of $7.16 and a one year high of $9.84.
Gladstone Investment Corporation (NASDAQ:GAIN) last issued its earnings results on Tuesday, August 1st. The investment management company reported $0.17 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.17. The business had revenue of $13.62 million for the quarter, compared to analyst estimates of $13.01 million. Gladstone Investment Corporation had a net margin of 55.52% and a return on equity of 6.95%. On average, equities research analysts expect that Gladstone Investment Corporation will post $0.70 EPS for the current year.
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Several research analysts recently issued reports on GAIN shares. Zacks Investment Research raised shares of Gladstone Investment Corporation from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. ValuEngine raised shares of Gladstone Investment Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. BidaskClub lowered shares of Gladstone Investment Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Jefferies Group LLC reissued a “hold” rating and set a $9.00 target price on shares of Gladstone Investment Corporation in a research note on Friday, July 14th. Finally, Wedbush initiated coverage on shares of Gladstone Investment Corporation in a research note on Wednesday, June 14th. They set an “outperform” rating and a $10.00 target price on the stock. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Gladstone Investment Corporation currently has an average rating of “Hold” and a consensus target price of $9.50.
About Gladstone Investment Corporation
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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