Gladstone Investment Co. (NASDAQ:GAIN) declared a dividend on Tuesday, July 9th, NASDAQ reports. Shareholders of record on Tuesday, August 20th will be paid a dividend of 0.068 per share by the investment management company on Friday, August 30th. The ex-dividend date is Monday, August 19th.
Gladstone Investment has increased its dividend by an average of 2.6% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. Gladstone Investment has a payout ratio of 107.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Gladstone Investment to earn $0.82 per share next year, which means the company may not be able to cover its $0.82 annual dividend with an expected future payout ratio of 100.0%.
Shares of NASDAQ:GAIN opened at $11.52 on Friday. Gladstone Investment has a 52 week low of $8.70 and a 52 week high of $12.70. The stock has a market capitalization of $371.55 million, a P/E ratio of 13.81 and a beta of 0.85. The firm has a fifty day simple moving average of $11.32 and a two-hundred day simple moving average of $11.68.
A number of equities analysts have commented on GAIN shares. LADENBURG THALM/SH SH cut shares of Gladstone Investment from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 15th. ValuEngine raised shares of Gladstone Investment from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. BidaskClub raised shares of Gladstone Investment from a “sell” rating to a “hold” rating in a research note on Saturday, August 3rd. Finally, Zacks Investment Research raised shares of Gladstone Investment from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research note on Thursday, August 8th.
In related news, COO Terry Lee Brubaker sold 21,502 shares of Gladstone Investment stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $11.38, for a total transaction of $244,692.76. Following the completion of the transaction, the chief operating officer now directly owns 30,235 shares of the company’s stock, valued at approximately $344,074.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.56% of the stock is currently owned by insiders.
About Gladstone Investment
Gladstone Investment Corporation is a private equity fund specializing in lower middle market, acquisitions, mature stage, buyouts; recapitalizations; 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.
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