Gladstone Investment Co. to Issue 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 given a dividend of 0.08 per share by the investment management company on Friday, May 30th. This represents a yield of 6.44%. The ex-dividend date 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. 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 Price Performance

Shares of NASDAQ GAIN traded up $0.21 during trading hours on Monday, hitting $14.91. 159,854 shares of the company’s stock were exchanged, compared to its average volume of 135,308. The stock has a market capitalization of $549.24 million, a price-to-earnings ratio of 7.77 and a beta of 0.86. The company’s 50-day moving average price is $13.50 and its 200-day moving average price is $13.46. Gladstone Investment has a 1-year low of $11.42 and a 1-year high of $14.95.

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

Hedge Funds Weigh In On Gladstone Investment

Institutional investors and hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC boosted its stake 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 worth $262,000 after purchasing an additional 1,150 shares during the period. Jane Street Group LLC acquired a new stake in shares of Gladstone Investment in the 1st quarter valued at about $302,000. Finally, Royal Bank of Canada lifted its holdings in shares of 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 in the last quarter. 11.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

About Gladstone Investment

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.