Gladstone Investment Corporation (GAIN) To Go Ex-Dividend on June 20th

Gladstone Investment Corporation (NASDAQ:GAIN) declared a monthly dividend on Tuesday, April 8th, investing.com reports. Shareholders of record on Friday, June 20th will be paid a dividend of 0.08 per share by the investment management company on Monday, June 30th. This represents a $0.96 dividend on an annualized basis and a yield of 6.83%. The ex-dividend date is Friday, June 20th.

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 tumble. Equities research 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 Price Performance

Shares of Gladstone Investment stock opened at $14.05 on Wednesday. The stock has a market capitalization of $517.60 million, a P/E ratio of 7.89 and a beta of 0.89. The business has a 50 day simple moving average of $14.11 and a two-hundred day simple moving average of $13.61. Gladstone Investment has a 12 month low of $11.42 and a 12 month high of $15.34.

Gladstone Investment (NASDAQ:GAIN) last issued its earnings results on Tuesday, May 13th. The investment management company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The business had revenue of $27.55 million during the quarter, compared to analysts’ expectations of $24.96 million. Gladstone Investment had a net margin of 69.74% and a return on equity of 7.31%. As a group, research analysts anticipate that Gladstone Investment will post 0.96 EPS for the current fiscal year.

Analyst Ratings Changes

GAIN has been the topic of several analyst reports. B. Riley raised shares of Gladstone Investment to a “hold” rating in a research report on Monday. LADENBURG THALM/SH SH reissued a “neutral” rating on shares of Gladstone Investment in a research note on Wednesday, May 14th. Finally, Citigroup lowered Gladstone Investment to a “neutral” rating in a research note on Wednesday, May 14th.

Institutional Investors Weigh In On Gladstone Investment

Hedge funds and other institutional investors have recently bought and sold shares of the business. Focus Partners Wealth purchased a new position in Gladstone Investment in the 1st quarter valued at approximately $261,000. NewEdge Advisors LLC increased its position in shares of Gladstone Investment by 6.2% in the first 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 in the last quarter. Jane Street Group LLC purchased a new position in shares of Gladstone Investment in the first quarter valued at $302,000. Finally, Royal Bank of Canada raised its stake in shares of Gladstone Investment by 6.8% during the 1st quarter. Royal Bank of Canada now owns 75,638 shares of the investment management company’s stock worth $1,010,000 after buying an additional 4,826 shares during the last quarter. Institutional investors and hedge funds own 11.85% of the company’s stock.

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.