Gladstone Investment Co. (NASDAQ:GAIN) declared a monthly dividend on Tuesday, October 12th, Zacks reports. Investors of record on Friday, October 22nd will be given a dividend of 0.075 per share by the investment management company on Friday, October 29th. This represents a $0.90 annualized dividend and a yield of 6.19%. The ex-dividend date of this dividend is Thursday, October 21st. This is a positive change from Gladstone Investment’s previous monthly dividend of $0.07.
Gladstone Investment has raised its dividend by 12.5% over the last three years and has increased its dividend annually for the last 2 consecutive years. Gladstone Investment has a dividend payout ratio of 71.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Gladstone Investment to earn $0.88 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 95.5%.
GAIN opened at $14.53 on Thursday. Gladstone Investment has a 12 month low of $8.16 and a 12 month high of $15.26. The stock has a market capitalization of $482.47 million, a price-to-earnings ratio of 5.38, a PEG ratio of 5.52 and a beta of 1.55. The business has a fifty day moving average price of $14.46 and a 200 day moving average price of $14.18.
Several institutional investors have recently bought and sold shares of GAIN. Bank of America Corp DE raised its stake in Gladstone Investment by 100.9% during the 2nd quarter. Bank of America Corp DE now owns 3,485 shares of the investment management company’s stock valued at $50,000 after acquiring an additional 1,750 shares during the last quarter. Millennium Management LLC acquired a new position in Gladstone Investment during the 2nd quarter worth approximately $146,000. Finally, Morgan Stanley increased its position in Gladstone Investment by 9.3% during the 2nd quarter. Morgan Stanley now owns 162,236 shares of the investment management company’s stock worth $2,337,000 after purchasing an additional 13,790 shares during the period. 12.23% of the stock is owned by institutional investors and hedge funds.
Separately, Zacks Investment Research downgraded Gladstone Investment from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 6th.
Gladstone Investment Company Profile
Gladstone Investment is a publicly traded business development company that seeks to make equity and secured debt investments.
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