Gladstone Investment Co. Plans Monthly Dividend of $0.08 (NASDAQ:GAIN)

Gladstone Investment Co. (NASDAQ:GAIN) declared a monthly dividend on Tuesday, April 9th, Zacks 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 yield of 6.95%. The ex-dividend date is Thursday, April 18th.

Gladstone Investment has increased its dividend by an average of 4.6% per year over the last three years. Gladstone Investment has a dividend payout ratio of 86.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research 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 Performance

NASDAQ GAIN opened at $13.81 on Wednesday. The stock has a 50-day simple moving average of $13.98 and a two-hundred day simple moving average of $14.01. The firm has a market capitalization of $506.69 million, a P/E 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 released its quarterly earnings data on Tuesday, February 6th. The investment management company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). The company had revenue of $23.08 million for the quarter, compared to analysts’ expectations of $24.04 million. Gladstone Investment had a net margin of 80.68% and a return on equity of 7.79%. As a group, analysts forecast that Gladstone Investment will post 1.01 earnings per share for the current year.

Hedge Funds Weigh In On Gladstone Investment

A number of institutional investors have recently modified their holdings of the stock. Lazard Asset Management LLC purchased a new position in shares of Gladstone Investment in the 1st quarter valued at about $30,000. Bank of America Corp DE increased its stake in shares of Gladstone Investment by 103.7% in the 1st quarter. Bank of America Corp DE now owns 2,037 shares of the investment management company’s stock valued at $27,000 after purchasing an additional 1,037 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Gladstone Investment in the 4th quarter valued at about $49,000. JPMorgan Chase & Co. purchased a new position in shares of Gladstone Investment in the 2nd quarter valued at about $49,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Gladstone Investment by 217.9% in the 1st quarter. Tower Research Capital LLC TRC now owns 5,766 shares of the investment management company’s stock valued at $76,000 after purchasing an additional 3,952 shares in the last quarter. Hedge funds and other institutional investors own 11.85% of the company’s stock.

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.