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

Gladstone Investment Co. (NASDAQ:GAIN) declared a dividend on Monday, May 19th, investing.com reports. Investors of record on Thursday, May 22nd will be given a dividend of 0.08 per share by the investment management company on Friday, May 30th. This represents a yield of 6.44%. The ex-dividend date is Wednesday, May 21st.

Gladstone Investment has a dividend payout ratio of 91.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Gladstone Investment to earn $0.94 per share next year, which means the company may not be able to cover its $0.96 annual dividend with an expected future payout ratio of 102.1%.

Gladstone Investment Stock Performance

Shares of NASDAQ GAIN traded up $0.21 during midday trading on Monday, reaching $14.91. 159,854 shares of the company’s stock were exchanged, compared to its average volume of 135,308. Gladstone Investment has a 52-week low of $11.42 and a 52-week high of $14.95. The business’s fifty day moving average price is $13.50 and its two-hundred day moving average price is $13.46. The stock has a market capitalization of $549.24 million, a PE ratio of 7.77 and a beta of 0.86.

Gladstone Investment (NASDAQ:GAIN) last released its quarterly earnings results on Tuesday, May 13th. The investment management company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The business had revenue of $27.55 million during the quarter, compared to the consensus estimate of $24.96 million. Gladstone Investment had a net margin of 78.02% and a return on equity of 7.17%. Analysts predict that Gladstone Investment will post 0.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GAIN has been the topic of a number of recent analyst reports. LADENBURG THALM/SH SH restated a “neutral” rating on shares of Gladstone Investment in a research note on Wednesday, May 14th. Citigroup downgraded Gladstone Investment to a “neutral” rating in a report on Wednesday, May 14th.

Institutional Investors Weigh In On Gladstone Investment

Hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC increased its stake in Gladstone Investment by 6.2% in the 1st quarter. NewEdge Advisors LLC now owns 19,626 shares of the investment management company’s stock valued at $262,000 after buying an additional 1,150 shares during the period. Jane Street Group LLC purchased a new position in Gladstone Investment in the first quarter valued at about $302,000. Finally, Royal Bank of Canada increased its position in Gladstone Investment by 6.8% in the 1st quarter. Royal Bank of Canada now owns 75,638 shares of the investment management company’s stock worth $1,010,000 after purchasing an additional 4,826 shares during the last quarter. 11.85% of the stock is owned by hedge funds and other institutional investors.

About Gladstone Investment

Gladstone Investment Corporation is business development company, specializes in lower middle market, mature stage, buyouts; refinancing existing debt; senior debt securities such as senior loans, senior term loans, lines of credit, and senior notes; senior subordinated debt securities such as senior subordinated loans and senior subordinated notes; junior subordinated debt securities such as subordinated notes and mezzanine loans; limited liability company interests, and warrants or options.