Gladstone Investment Co. (NASDAQ:GAIN) announced a monthly dividend on Wednesday, January 10th, Wall Street Journal reports. Investors of record on Monday, January 22nd will be given a dividend of 0.065 per share by the investment management company on Wednesday, January 31st. This represents a $0.78 dividend on an annualized basis and a dividend yield of 6.99%. The ex-dividend date is Friday, January 19th.
Gladstone Investment (NASDAQ:GAIN) traded up $0.05 during mid-day trading on Thursday, hitting $11.16. 17,640 shares of the company were exchanged, compared to its average volume of 199,420. Gladstone Investment has a 1-year low of $8.45 and a 1-year high of $11.50. The firm has a market cap of $362.67, a PE ratio of 8.27 and a beta of 0.74.
Gladstone Investment (NASDAQ:GAIN) last released its quarterly earnings data on Wednesday, November 1st. The investment management company reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.01. Gladstone Investment had a net margin of 80.07% and a return on equity of 6.95%. The business had revenue of $13.13 million for the quarter, compared to analysts’ expectations of $12.22 million. sell-side analysts predict that Gladstone Investment will post 0.71 earnings per share for the current year.
In related news, Director Walter H. Wilkinson bought 5,730 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The stock was purchased at an average price of $10.84 per share, for a total transaction of $62,113.20. Following the transaction, the director now directly owns 14,416 shares of the company’s stock, valued at approximately $156,269.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.40% of the company’s stock.
A number of analysts recently weighed in on GAIN shares. Wedbush cut shares of Gladstone Investment from an “outperform” rating to a “neutral” rating and increased their price objective for the stock from $10.50 to $11.00 in a report on Monday, November 20th. Zacks Investment Research raised shares of Gladstone Investment from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Monday, November 6th. ValuEngine raised shares of Gladstone Investment from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Finally, Jefferies Group increased their price objective on shares of Gladstone Investment from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Friday, November 3rd. Four investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. Gladstone Investment has an average rating of “Hold” and a consensus price target of $11.00.
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About Gladstone Investment
Gladstone Investment Corporation is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objectives are to achieve and grow current income by investing in debt securities of established businesses that it believes will provide stable earnings and cash flow to pay expenses, make principal and interest payments on its outstanding indebtedness and make distributions to stockholders that grow over time, and provide its stockholders with long-term capital appreciation in the value of its assets by investing in equity securities, generally in combination with the aforementioned debt securities, of businesses that it believes can grow over time to permit it to sell its equity investments for capital gains.
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