Gladstone Investment Co. (NASDAQ:GAIN) Declares $0.08 Monthly Dividend

Gladstone Investment Co. (NASDAQ:GAIN) announced a monthly dividend on Friday, January 14th, Wall Street Journal reports. Investors of record on Wednesday, March 23rd will be paid a dividend of 0.075 per share by the investment management company on Thursday, March 31st. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.55%. The ex-dividend date is Tuesday, March 22nd.

Gladstone Investment has increased its dividend by 2.6% over the last three years and has increased its dividend every year for the last 2 years.

Shares of NASDAQ:GAIN traded down $0.42 during midday trading on Friday, reaching $16.23. 239,634 shares of the company were exchanged, compared to its average volume of 107,043. Gladstone Investment has a fifty-two week low of $10.10 and a fifty-two week high of $17.15. The stock has a fifty day simple moving average of $16.65 and a two-hundred day simple moving average of $15.29. The firm has a market cap of $538.92 million, a PE ratio of 4.84, a P/E/G ratio of 6.03 and a beta of 1.56.

Gladstone Investment (NASDAQ:GAIN) last issued its quarterly earnings results on Monday, November 1st. The investment management company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.12). Gladstone Investment had a net margin of 157.21% and a return on equity of 7.51%. The business had revenue of $18.54 million during the quarter, compared to analyst estimates of $16.23 million. During the same quarter in the previous year, the firm posted $0.15 earnings per share. As a group, analysts expect that Gladstone Investment will post 0.93 earnings per share for the current year.

In other Gladstone Investment news, President David A. R. Dullum purchased 3,000 shares of the stock in a transaction on Friday, December 3rd. The shares were purchased at an average cost of $16.54 per share, for a total transaction of $49,620.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.61% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its stake in shares of Gladstone Investment by 100.9% during the 2nd quarter. Bank of America Corp DE now owns 3,485 shares of the investment management company’s stock worth $50,000 after purchasing an additional 1,750 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Gladstone Investment by 7.2% during the 3rd quarter. Royal Bank of Canada now owns 37,051 shares of the investment management company’s stock worth $514,000 after purchasing an additional 2,482 shares during the last quarter. UBS Group AG increased its stake in shares of Gladstone Investment by 19.2% during the 3rd quarter. UBS Group AG now owns 52,567 shares of the investment management company’s stock worth $729,000 after purchasing an additional 8,450 shares during the last quarter. Millennium Management LLC acquired a new position in shares of Gladstone Investment during the 2nd quarter worth about $146,000. Finally, Jane Street Group LLC acquired a new position in shares of Gladstone Investment during the 3rd quarter worth about $171,000. Institutional investors own 12.52% of the company’s stock.

Separately, Zacks Investment Research lowered shares of Gladstone Investment from a “buy” rating to a “hold” rating in a research note on Monday, November 8th.

About Gladstone Investment

Gladstone Investment is a publicly traded business development company that seeks to make equity and secured debt investments.

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Dividend History for Gladstone Investment (NASDAQ:GAIN)

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