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

Gladstone Investment Co. (NASDAQ:GAIN) announced a monthly dividend on Tuesday, October 10th, investing.com reports. Shareholders of record on Monday, November 20th will be paid a dividend of 0.08 per share by the investment management company on Thursday, November 30th. This represents a $0.96 annualized dividend and a yield of 6.53%. The ex-dividend date is Friday, November 17th.

Gladstone Investment has increased its dividend by an average of 3.9% annually over the last three years and has increased its dividend annually for the last 11 consecutive years. Gladstone Investment has a dividend payout ratio of 91.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Gladstone Investment to earn $1.08 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 88.9%.

Gladstone Investment Price Performance

NASDAQ GAIN opened at $14.70 on Wednesday. The business’s fifty day moving average price is $13.10 and its 200-day moving average price is $13.11. The stock has a market capitalization of $498.33 million, a price-to-earnings ratio of 6.48 and a beta of 1.39. Gladstone Investment has a 1-year low of $12.11 and a 1-year high of $14.92.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GAIN. Oppenheimer raised Gladstone Investment from a “market perform” rating to an “outperform” rating in a report on Thursday, November 2nd. StockNews.com upgraded Gladstone Investment from a “sell” rating to a “hold” rating in a research report on Saturday, November 4th.

Institutional Investors Weigh In On Gladstone Investment

Several large investors have recently made changes to their positions in the company. Millennium Management LLC increased its stake in Gladstone Investment by 495.9% during the fourth quarter. Millennium Management LLC now owns 489,618 shares of the investment management company’s stock worth $6,321,000 after acquiring an additional 407,451 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in Gladstone Investment by 5.5% during the first quarter. Advisors Asset Management Inc. now owns 309,476 shares of the investment management company’s stock worth $4,992,000 after buying an additional 16,095 shares during the period. BlackRock Inc. lifted its holdings in Gladstone Investment by 6.5% during the third quarter. BlackRock Inc. now owns 259,901 shares of the investment management company’s stock worth $3,144,000 after buying an additional 15,750 shares during the period. Legal & General Group Plc lifted its holdings in Gladstone Investment by 2.0% during the fourth quarter. Legal & General Group Plc now owns 217,552 shares of the investment management company’s stock worth $2,805,000 after buying an additional 4,166 shares during the period. Finally, LPL Financial LLC lifted its holdings in Gladstone Investment by 1.3% during the first quarter. LPL Financial LLC now owns 186,793 shares of the investment management company’s stock worth $2,475,000 after buying an additional 2,356 shares during the period. 11.55% of the stock is owned by 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.