Gladstone Investment Co. (GAIN) to Issue $0.07 Monthly Dividend

Gladstone Investment Co. (NASDAQ:GAIN) declared a monthly dividend on Wednesday, January 10th, Wall Street Journal reports. Investors of record on Tuesday, March 20th will be given a dividend of 0.065 per share by the investment management company on Friday, March 30th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 6.99%. The ex-dividend date of this dividend is Monday, March 19th.

Shares of Gladstone Investment (NASDAQ:GAIN) traded up $0.05 during trading hours on Thursday, reaching $11.16. The company’s stock had a trading volume of 17,640 shares, compared to its average volume of 199,420. The company has a market cap of $362.67, a PE ratio of 8.27 and a beta of 0.74. Gladstone Investment has a 12-month low of $8.45 and a 12-month high of $11.50.

Gladstone Investment (NASDAQ:GAIN) last announced its quarterly earnings data on Wednesday, November 1st. The investment management company reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.01. The firm had revenue of $13.13 million during the quarter, compared to analysts’ expectations of $12.22 million. Gladstone Investment had a return on equity of 6.95% and a net margin of 80.07%. analysts forecast that Gladstone Investment will post 0.71 earnings per share for the current fiscal year.

Several analysts have weighed in on the company. Zacks Investment Research cut Gladstone Investment from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Jefferies Group boosted their price objective on Gladstone Investment from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Friday, November 3rd. Wedbush cut Gladstone Investment from an “outperform” rating to a “neutral” rating and boosted their price objective for the stock from $10.50 to $11.00 in a report on Monday, November 20th. Finally, ValuEngine raised Gladstone Investment from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 4th. Four equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $11.00.

In other news, Director Walter H. Wilkinson acquired 5,730 shares of the company’s stock in a transaction on Tuesday, November 28th. The stock was purchased at an average cost of $10.84 per share, with a total value of $62,113.20. Following the acquisition, the director now owns 14,416 shares of the company’s stock, valued at approximately $156,269.44. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.40% of the company’s stock.

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About Gladstone Investment

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.

Dividend History for Gladstone Investment (NASDAQ:GAIN)

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