Gladstone Investment Corporation Plans Monthly Dividend of $0.07 (GAIN)
Gladstone Investment Corporation (NASDAQ:GAIN) declared a monthly dividend on Wednesday, October 11th, Wall Street Journal reports. Stockholders of record on Tuesday, December 19th will be paid a dividend of 0.065 per share by the investment management company on Friday, December 29th. This represents a $0.78 annualized dividend and a dividend yield of 8.07%. The ex-dividend date is Monday, December 18th.
Shares of Gladstone Investment Corporation (NASDAQ:GAIN) traded up 0.363% during 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 company’s 50 day moving average price is $9.33 and its 200 day moving average price is $9.35.
Gladstone Investment Corporation (NASDAQ:GAIN) last posted 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. Gladstone Investment Corporation had a return on equity of 6.95% and a net margin of 55.52%. The firm had revenue of $13.62 million for the quarter, compared to analyst estimates of $13.01 million. On average, equities analysts forecast that Gladstone Investment Corporation will post $0.70 earnings per share for the current year.
GAIN has been the topic of several research reports. Zacks Investment Research lowered Gladstone Investment Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. BidaskClub lowered Gladstone Investment Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. 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 Wednesday, August 16th. ValuEngine raised Gladstone Investment Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Wedbush initiated coverage on 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. The company presently has an average rating of “Hold” and an average price target of $9.50.
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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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