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

Gladstone Investment Co. (NASDAQ:GAIN) announced a monthly dividend on Monday, April 15th, Wall Street Journal reports. Investors of record on Wednesday, June 19th will be paid a dividend of 0.08 per share by the investment management company on Friday, June 28th. This represents a $0.96 annualized dividend and a yield of 6.92%. The ex-dividend date of this dividend is Tuesday, June 18th.

Gladstone Investment has increased its dividend payment by an average of 4.6% per year over the last three years. Gladstone Investment has a dividend payout ratio of 86.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Gladstone Investment to earn $1.05 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 91.4%.

Gladstone Investment Stock Down 0.4 %

Shares of NASDAQ:GAIN opened at $13.87 on Tuesday. The company has a market cap of $508.89 million, a PE ratio of 6.97 and a beta of 1.36. The company’s 50-day moving average price is $13.98 and its 200 day moving average price is $14.00. Gladstone Investment has a fifty-two week low of $12.14 and a fifty-two week high of $14.96.

Gladstone Investment (NASDAQ:GAIN) last released its quarterly earnings results on Tuesday, February 6th. The investment management company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). The company had revenue of $23.08 million for the quarter, compared to the consensus estimate of $24.04 million. Gladstone Investment had a return on equity of 7.79% and a net margin of 80.68%. As a group, equities analysts anticipate that Gladstone Investment will post 1.01 EPS for the current year.

Hedge Funds Weigh In On Gladstone Investment

Several hedge funds have recently made changes to their positions in the business. Bank of America Corp DE grew its position in Gladstone Investment by 103.7% during the first quarter. Bank of America Corp DE now owns 2,037 shares of the investment management company’s stock valued at $27,000 after purchasing an additional 1,037 shares in the last quarter. Lazard Asset Management LLC purchased a new position in Gladstone Investment during the first quarter valued at approximately $30,000. JPMorgan Chase & Co. purchased a new position in Gladstone Investment during the second quarter valued at approximately $49,000. BNP Paribas Financial Markets purchased a new position in Gladstone Investment during the fourth quarter valued at approximately $49,000. Finally, Tower Research Capital LLC TRC grew its position in Gladstone Investment by 217.9% during the first quarter. Tower Research Capital LLC TRC now owns 5,766 shares of the investment management company’s stock valued at $76,000 after purchasing an additional 3,952 shares in the last quarter. Institutional investors and hedge funds own 11.85% of the company’s stock.

Gladstone Investment Company Profile

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.