Gladstone Investment Co. (GAIN) to Issue Monthly Dividend of $0.08 on April 30th

Gladstone Investment Co. (NASDAQ:GAIN) announced a monthly dividend on Tuesday, April 9th, Wall Street Journal reports. Investors of record on Friday, April 19th will be paid a dividend of 0.08 per share by the investment management company on Tuesday, April 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.88%. The ex-dividend date is Thursday, April 18th.

Gladstone Investment has raised its dividend by an average of 4.6% per year over the last three years. Gladstone Investment has a payout ratio of 86.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Gladstone Investment to earn $1.05 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 91.4%.

Gladstone Investment Stock Up 1.0 %

GAIN stock traded up $0.14 during midday trading on Wednesday, reaching $13.95. The company had a trading volume of 86,426 shares, compared to its average volume of 175,758. The stock has a 50 day moving average price of $13.98 and a 200 day moving average price of $14.01. The firm has a market capitalization of $511.83 million, a PE ratio of 6.94 and a beta of 1.36. Gladstone Investment has a fifty-two week low of $12.14 and a fifty-two week high of $14.96.

Gladstone Investment (NASDAQ:GAIN) last posted its earnings results on Tuesday, February 6th. The investment management company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). The company had revenue of $23.08 million during the quarter, compared to the consensus estimate of $24.04 million. Gladstone Investment had a net margin of 80.68% and a return on equity of 7.79%. Research analysts predict that Gladstone Investment will post 1.01 EPS for the current year.

Hedge Funds Weigh In On Gladstone Investment

Institutional investors and hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its holdings in shares of Gladstone Investment by 26.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 16,812 shares of the investment management company’s stock valued at $238,000 after buying an additional 3,495 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in Gladstone Investment in the fourth quarter worth about $168,000. Legal & General Group Plc lifted its holdings in Gladstone Investment by 6.6% in the 4th quarter. Legal & General Group Plc now owns 257,435 shares of the investment management company’s stock valued at $3,643,000 after acquiring an additional 15,869 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of Gladstone Investment during the 4th quarter valued at about $49,000. Finally, International Assets Investment Management LLC bought a new position in shares of Gladstone Investment during the 4th quarter valued at about $144,000. Institutional investors own 11.85% of the company’s stock.

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.