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

Gladstone Investment Co. (NASDAQ:GAIN) declared a dividend on Monday, May 19th, investing.com reports. Investors 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 6.44%. 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 fall. 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 Stock Up 1.4%

GAIN traded up $0.21 during trading on Monday, hitting $14.91. 159,854 shares of the company’s stock were exchanged, compared to its average volume of 135,308. Gladstone Investment has a fifty-two week low of $11.42 and a fifty-two week high of $14.95. The stock has a market cap of $549.24 million, a P/E ratio of 7.77 and a beta of 0.86. The business’s 50 day moving average is $13.50 and its two-hundred day moving average is $13.46.

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

Analysts Set New Price Targets

A number of research firms have weighed in on GAIN. Citigroup lowered shares of Gladstone Investment to a “neutral” rating in a research note on Wednesday, May 14th. LADENBURG THALM/SH SH reissued a “neutral” rating on shares of Gladstone Investment in a research report on Wednesday, May 14th.

Institutional Investors Weigh In On Gladstone Investment

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

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.