Gladstone Investment Co. (NASDAQ:GAIN) announced a monthly dividend on Wednesday, January 10th, Wall Street Journal reports. Shareholders of record on Monday, January 22nd will be paid a dividend of 0.065 per share by the investment management company on Wednesday, January 31st. This represents a $0.78 annualized dividend and a yield of 8.07%. The ex-dividend date is Friday, January 19th.
Shares of Gladstone Investment (GAIN) traded down $0.28 on Friday, reaching $9.66. The company’s stock had a trading volume of 291,391 shares, compared to its average volume of 240,734. Gladstone Investment has a one year low of $8.45 and a one year high of $11.50. The firm has a market capitalization of $321.03 and a price-to-earnings ratio of 7.16.
Gladstone Investment (NASDAQ:GAIN) last released its earnings results on Wednesday, November 1st. The investment management company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.01. The business had revenue of $13.13 million for the quarter, compared to the consensus estimate of $12.22 million. Gladstone Investment had a return on equity of 6.95% and a net margin of 80.07%. research analysts predict that Gladstone Investment will post 0.71 EPS for the current year.
GAIN has been the topic of several research reports. Jefferies Group raised their target price on Gladstone Investment from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Friday, November 3rd. ValuEngine upgraded Gladstone Investment from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 4th. Zacks Investment Research upgraded Gladstone Investment from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Monday, November 6th. Wedbush downgraded Gladstone Investment from an “outperform” rating to a “neutral” rating and lifted their price objective for the stock from $10.50 to $11.00 in a research report on Monday, November 20th. Finally, BidaskClub downgraded Gladstone Investment from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 23rd. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $11.00.
In related news, Director Walter H. Wilkinson acquired 5,730 shares of Gladstone Investment stock in a transaction that occurred on Tuesday, November 28th. The shares were purchased at an average price of $10.84 per share, for a total transaction of $62,113.20. Following the completion of the transaction, the director now owns 14,416 shares in the company, valued at approximately $156,269.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.40% of the company’s stock.
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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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