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

Gladstone Investment Co. (NASDAQ:GAIN) announced a monthly dividend on Monday, April 15th, Wall Street Journal reports. Shareholders 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 dividend on an annualized basis and a dividend yield of 6.95%. The ex-dividend date of this dividend is Tuesday, June 18th.

Gladstone Investment has increased its dividend payment by an average of 4.6% annually over the last three years. Gladstone Investment has a 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. 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 Price Performance

Gladstone Investment stock opened at $13.81 on Wednesday. The firm’s 50 day simple moving average is $13.98 and its 200-day simple moving average is $14.01. The company has a market cap 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 earnings results on Tuesday, February 6th. The investment management company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.01). The firm had revenue of $23.08 million during the quarter, compared to analysts’ expectations of $24.04 million. Gladstone Investment had a return on equity of 7.79% and a net margin of 80.68%. On average, analysts expect that Gladstone Investment will post 1.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC purchased a new position in Gladstone Investment during the first quarter valued at approximately $30,000. Bank of America Corp DE grew its position in Gladstone Investment by 103.7% during the first 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 Gladstone Investment during the fourth quarter valued at approximately $49,000. JPMorgan Chase & Co. purchased a new position in Gladstone Investment during the second quarter valued at approximately $49,000. Finally, Tower Research Capital LLC TRC grew its position in Gladstone Investment by 217.9% during the first 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. 11.85% of the stock is owned by hedge funds and other institutional investors.

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.