Gladstone Investment Company (NASDAQ:GAIN – Get Rating) declared a monthly dividend on Friday, Jan. 13, The Wall Street Journal reports. The shareholder of record on Friday, March 17 will be awarded a dividend of 0.08 per share by the investment management company on Friday, March 31. That represents an annualized dividend of $0.96 and his 6.99% dividend yield. The ex-dividend date is Thursday, March 16.
Gladstone Investments has increased its dividend at an average annual rate of 7.5% over the past three years and has increased its dividend each year for the last three years.
Gladstone Investment Trading +0.7 %
NASDAQ:GAIN shares climbed $0.09 during Friday’s trading to reach $13.74. His 80,033 shares of the company were exchanged, but the average trading volume was 78,381 of his shares. The stock has a market cap of $456.65 million, a price/earnings ratio of 9.04 and a beta of 1.38. His 52-week low is $11.40 and his 52-week high is $16.85 on Gladstone Investments. The company has a 50-day moving average price of $13.48 and a 200-day moving average price of $13.75.
Gladstone Investments (NASDAQ:GAIN – Get Rating) last reported quarterly results on Tuesday, November 1. The investment manager reported earnings of $0.29 per share for the quarter, beating consensus expectations of $0.23 by $0.06. The company’s revenue for the quarter was $20.8 million, compared with analyst estimates of $17.36 million. Gladstone Investment’s return on equity was 7.27% and net profit margin was 66.37%. As a group, research analysts expect Gladstone Investments to record 1.13 EPS this year.
Insider activity at Gladstone Investment
In other news, President David AR Durham purchased 3,000 shares of Gladstone Investments in a transaction that took place on Friday, December 16th. Shares were acquired at an average of $13.06 per share, with a total deal value he of $39,180.00. Following the purchase, the President now directly owns 141,916 shares of the Company’s stock valued at approximately $1,853,422.96. The transaction was disclosed in filings with the Securities and Exchange Commission available via this hyperlink. His 2.60% of the shares are now owned by corporate insiders.
Hedge fund considers investment in Gladstone
A number of institutional investors and hedge funds have recently bought and sold shares in the company. Advisors Asset Management Inc. increased his Gladstone Investment holdings by 5.5% in the first quarter. Advisors Asset Management Inc. now owns 309,476 shares of the investment management company worth $4,992,000 after he purchased an additional 16,095 shares last quarter. BlackRock Inc. increased his stake in Gladstone Investment by 6.5% in the third quarter. BlackRock Inc. now owns 259,901 shares of the investment management company, valued at $3,144,000, after purchasing an additional 15,750 of his shares during this period. Legal & General Group Plc increased its stake in Gladstone Investment shares by 6.5% in the second quarter. Legal & General Group Plc owns 194,007 shares of the investment management company valued at $2,738,000 after purchasing an additional 11,912 shares during this period. Blair William & Co. IL increased its stake in Gladstone Investment shares by 3.4% in the first quarter. Blair William & Co. IL now owns 155,254 shares of the Investment Management Company worth $2,504,000 after purchasing an additional 5,175 shares during this period. Finally, LPL Financial LLC increased its stake in Gladstone Investments by 2.2% in the second quarter. After purchasing an additional 2,501 shares during this period, LPL Financial LLC now owns 114,389 shares of Investment Management Company stock valued at $1,611,000. Institutional investors and hedge funds own 12.14% of the company’s shares.
Analyst Rating Change
GAIN has been the topic of many recent analyst reports. LADENBURG THALM/SH SH upgraded Gladstone Investment’s rating from ‘neutral’ to ‘buy’ and set a price target at his $14.00 in a report on Wednesday, November 2nd. B. Riley began covering his investment in Gladstone in a report on Monday, December 12th. They set a Buy rating and a price target of $12.00. Finally, StockNews.com started reporting on Gladstone Investment in his Wednesday Oct. 12 report. They put a “Hold” rating on the stock. Two investment analysts rated the stock with a hold rating and two gave the stock a buy rating. Based on MarketBeat.com data, Gladstone Investment’s consensus rating is “moderate buy” with a consensus target price of $13.17.
Gladstone Investment Company Profile
(get rating)
Gladstone Investment Corporation is a business development firm specializing in lower middle market, mature stage and buyouts. refinancing of existing debt; senior debt instruments 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 debt. Subordinated debt such as subordinated debt and mezzanine loans. Limited Liability Company Interests, and Warrants or Options.
Featured Stories
This instant news alert was generated by Narrative Science Technology and MarketBeat financial data to provide our readers with the fastest and most accurate reporting. This article was reviewed by MarketBeat’s editorial team prior to publication. Send any questions or comments about this story to contact@marketbeat.com.
Hear this before you consider Gladstone Investments.
MarketBeat tracks Wall Street’s most acclaimed and top performing research analysts and the stocks they recommend to clients every day. MarketBeat identified five stocks top analysts are quietly whispering to clients to buy now before the broader market catches on…and Gladstone Investment was not on the list. .
Gladstone Investments is currently rated a ‘moderate buy’ among analysts, although the highest rated analysts believe these five stocks are better buys.
See 5 stocks here
