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 6.91%. The ex-dividend date is Friday, January 19th.
Shares of Gladstone Investment (NASDAQ:GAIN) opened at $11.29 on Friday. Gladstone Investment has a one year low of $8.45 and a one year high of $11.50. The stock has a market capitalization of $367.22, a P/E ratio of 8.36 and a beta of 0.72.
Gladstone Investment (NASDAQ:GAIN) last announced its quarterly earnings data on Wednesday, November 1st. The investment management company reported $0.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.01. Gladstone Investment had a return on equity of 6.95% and a net margin of 80.07%. The firm had revenue of $13.13 million for the quarter, compared to analysts’ expectations of $12.22 million. research analysts forecast that Gladstone Investment will post 0.71 earnings per share for the current fiscal year.
Several analysts have issued reports on GAIN shares. Zacks Investment Research upgraded Gladstone Investment from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. Jefferies Group upped their target price on Gladstone Investment from $9.00 to $10.00 and gave the company a “hold” rating in a report on Friday, November 3rd. ValuEngine raised Gladstone Investment from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 4th. Finally, Wedbush lowered Gladstone Investment from an “outperform” rating to a “neutral” rating and upped their target price for the company from $10.50 to $11.00 in a report on Monday, November 20th. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $11.00.
In related news, Director Walter H. Wilkinson bought 5,730 shares of the stock in a transaction dated Tuesday, November 28th. The stock was bought at an average cost of $10.84 per share, with a total value of $62,113.20. Following the completion of the acquisition, the director now owns 14,416 shares of the company’s stock, valued at $156,269.44. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.40% of the stock is currently owned by corporate insiders.
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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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