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

Gladstone Investment Co. (NASDAQ:GAIN) announced a monthly dividend on Friday, January 14th, Wall Street Journal reports. Shareholders of record on Friday, February 18th will be given a dividend of 0.075 per share by the investment management company on Monday, February 28th. This represents a $0.90 dividend on an annualized basis and a yield of 5.55%. The ex-dividend date of this dividend is Thursday, February 17th.

Gladstone Investment has increased its dividend payment by 2.6% over the last three years and has raised its dividend annually for the last 2 consecutive years.

NASDAQ:GAIN traded down $0.42 on Friday, reaching $16.23. The company’s stock had a trading volume of 239,634 shares, compared to its average volume of 107,043. Gladstone Investment has a 12-month low of $10.10 and a 12-month high of $17.15. The firm has a market cap of $538.92 million, a price-to-earnings ratio of 4.97, a price-to-earnings-growth ratio of 6.03 and a beta of 1.56. The stock has a 50 day moving average price of $16.65 and a 200 day moving average price of $15.29.

Gladstone Investment (NASDAQ:GAIN) last posted its earnings results on Monday, November 1st. The investment management company reported $0.07 EPS for the quarter, missing the Zacks’ 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 analysts’ expectations of $16.23 million. During the same quarter in the prior year, the firm earned $0.15 EPS. Research analysts anticipate that Gladstone Investment will post 0.93 earnings per share for the current fiscal year.

In other news, President David A. R. Dullum acquired 3,000 shares of the business’s stock in a transaction that occurred on Friday, December 3rd. The shares were purchased at an average price 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 the SEC website. 2.61% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of GAIN. Bank of America Corp DE raised its holdings in shares of Gladstone Investment by 100.9% in the 2nd quarter. Bank of America Corp DE now owns 3,485 shares of the investment management company’s stock valued at $50,000 after buying an additional 1,750 shares during the period. Millennium Management LLC purchased a new stake in shares of Gladstone Investment in the 2nd quarter valued at $146,000. Jane Street Group LLC purchased a new stake in shares of Gladstone Investment in the 3rd quarter valued at $171,000. Royal Bank of Canada raised its holdings in shares of Gladstone Investment by 7.2% in the 3rd quarter. Royal Bank of Canada now owns 37,051 shares of the investment management company’s stock valued at $514,000 after buying an additional 2,482 shares during the period. Finally, UBS Group AG raised its holdings in shares of Gladstone Investment by 19.2% in the 3rd quarter. UBS Group AG now owns 52,567 shares of the investment management company’s stock valued at $729,000 after buying an additional 8,450 shares during the period. Hedge funds and other institutional investors own 12.52% of the company’s stock.

Separately, Zacks Investment Research downgraded Gladstone Investment from a “buy” rating to a “hold” rating in a research report 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.

Recommended Story: What are retained earnings?

Dividend History for Gladstone Investment (NASDAQ:GAIN)

Receive News & Ratings for Gladstone Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gladstone Investment and related companies with MarketBeat.com's FREE daily email newsletter.