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

Gladstone Investment Co. (NASDAQ:GAIN) announced a dividend on Wednesday, May 21st, investing.com reports. Stockholders of record on Thursday, May 22nd will be paid a dividend of 0.08 per share by the investment management company on Friday, May 30th. This represents a dividend yield of 6.55%. The ex-dividend date of this dividend is Wednesday, May 21st.

Gladstone Investment has a dividend payout ratio of 91.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 opened at $14.66 on Thursday. The stock has a 50-day simple moving average of $13.60 and a 200-day simple moving average of $13.49. The stock has a market capitalization of $540.03 million, a P/E ratio of 7.64 and a beta of 0.86. Gladstone Investment has a 1 year low of $11.42 and a 1 year high of $15.00.

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

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Gladstone Investment

Institutional investors have recently added to or reduced their stakes in the company. Focus Partners Wealth purchased a new position in Gladstone Investment in the 1st quarter valued at about $261,000. NewEdge Advisors LLC lifted its stake 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 worth $262,000 after acquiring an additional 1,150 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Gladstone Investment in the first quarter worth about $302,000. Finally, Royal Bank of Canada boosted its holdings in Gladstone Investment by 6.8% in the first quarter. Royal Bank of Canada now owns 75,638 shares of the investment management company’s stock valued at $1,010,000 after purchasing an additional 4,826 shares during 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.