Gladstone Investment Co. (GAIN) to Issue Monthly Dividend of $0.08 on June 28th

Gladstone Investment Co. (NASDAQ:GAIN) announced a monthly dividend on Monday, April 15th, Wall Street Journal reports. Investors of record on Wednesday, June 19th will be given a dividend of 0.08 per share by the investment management company on Friday, June 28th. This represents a $0.96 annualized dividend and a yield of 6.95%. The ex-dividend date is Tuesday, June 18th.

Gladstone Investment has raised 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% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. 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

Gladstone Investment stock opened at $13.81 on Wednesday. Gladstone Investment has a fifty-two week low of $12.14 and a fifty-two week high of $14.96. The firm has a 50 day moving average price of $13.98 and a 200 day moving average price of $14.01. The company has a market capitalization of $506.69 million, a PE ratio of 6.94 and a beta of 1.36.

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

Institutional Investors Weigh In On Gladstone Investment

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

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.