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

Gladstone Investment Corporation (NASDAQ:GAIN) announced a monthly dividend on Tuesday, April 8th, investing.com reports. Investors of record on Friday, June 20th will be given a dividend of 0.08 per share by the investment management company on Monday, June 30th. This represents a $0.96 dividend on an annualized basis and a yield of 6.83%. The ex-dividend date is Friday, June 20th.

Gladstone Investment has a dividend payout ratio of 91.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. 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

Gladstone Investment stock opened at $14.05 on Wednesday. Gladstone Investment has a fifty-two week low of $11.42 and a fifty-two week high of $15.34. The company has a market capitalization of $517.60 million, a price-to-earnings ratio of 7.89 and a beta of 0.89. The stock has a fifty day moving average of $14.11 and a two-hundred day moving average of $13.61.

Gladstone Investment (NASDAQ:GAIN) last posted its quarterly earnings data on Tuesday, May 13th. The investment management company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. Gladstone Investment had a return on equity of 7.31% and a net margin of 69.74%. The firm had revenue of $27.55 million during the quarter, compared to analysts’ expectations of $24.96 million. On average, analysts forecast that Gladstone Investment will post 0.96 EPS for the current fiscal year.

Institutional Investors Weigh In On Gladstone Investment

Several hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC boosted its holdings in Gladstone Investment by 6.2% in the first quarter. NewEdge Advisors LLC now owns 19,626 shares of the investment management company’s stock valued at $262,000 after acquiring an additional 1,150 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of 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 worth $1,010,000 after purchasing an additional 4,826 shares during the period. Focus Partners Wealth acquired a new position in shares of Gladstone Investment in the 1st quarter valued at about $261,000. Finally, Jane Street Group LLC acquired a new position in shares of Gladstone Investment in the 1st quarter valued at about $302,000. 11.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on GAIN shares. B. Riley upgraded shares of Gladstone Investment to a “hold” rating in a report on Monday. LADENBURG THALM/SH SH reaffirmed a “neutral” rating on shares of Gladstone Investment in a research note on Wednesday, May 14th. Finally, Citigroup downgraded Gladstone Investment to a “neutral” rating in a report 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.