Gladstone Investment Corporation (GAIN) to Issue Monthly Dividend of $0.07
Gladstone Investment Corporation (NASDAQ:GAIN) announced a monthly dividend on Wednesday, October 11th, Wall Street Journal reports. Stockholders of record on Friday, October 20th will be given a dividend of 0.065 per share by the investment management company on Tuesday, October 31st. This represents a $0.78 dividend on an annualized basis and a dividend yield of 8.07%. The ex-dividend date of this dividend is Thursday, October 19th. This is a boost from Gladstone Investment Corporation’s previous monthly dividend of $0.06.
Gladstone Investment Corporation (NASDAQ GAIN) traded up 0.363% during mid-day trading on Wednesday, hitting $9.665. The stock had a trading volume of 164,729 shares. Gladstone Investment Corporation has a 12-month low of $7.16 and a 12-month high of $9.84. The stock has a 50-day moving average price of $9.33 and a 200 day moving average price of $9.35.
Gladstone Investment Corporation (NASDAQ:GAIN) last posted its quarterly earnings results on Tuesday, August 1st. The investment management company reported $0.17 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.17. The company had revenue of $13.62 million for the quarter, compared to analysts’ expectations of $13.01 million. Gladstone Investment Corporation had a return on equity of 6.95% and a net margin of 55.52%. On average, equities research analysts predict that Gladstone Investment Corporation will post $0.70 earnings per share for the current fiscal year.
Several research analysts have issued reports on the company. Zacks Investment Research cut Gladstone Investment Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Jefferies Group LLC reaffirmed a “hold” rating and issued a $9.00 price target on shares of Gladstone Investment Corporation in a report on Wednesday, August 16th. BidaskClub cut Gladstone Investment Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. ValuEngine cut Gladstone Investment Corporation from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. Finally, Wedbush assumed coverage on Gladstone Investment Corporation in a report on Wednesday, June 14th. They issued an “outperform” rating and a $10.00 price target on the stock. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Gladstone Investment Corporation presently has a consensus rating of “Hold” and an average target price of $9.50.
Gladstone Investment Corporation Company Profile
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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