Gladstone Investment Co. (GAIN) To Go Ex-Dividend on May 16th

Gladstone Investment Co. (NASDAQ:GAIN) declared a monthly dividend on Friday, April 12th, Wall Street Journal reports. Investors of record on Friday, May 17th will be paid a dividend of 0.08 per share by the investment management company on Friday, May 31st. This represents a $0.96 dividend on an annualized basis and a yield of 6.89%. The ex-dividend date of this dividend is Thursday, May 16th.

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 tumble. Equities 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 Trading Down 0.9 %

NASDAQ:GAIN opened at $13.93 on Friday. The company has a market cap of $510.91 million, a PE ratio of 7.00 and a beta of 1.36. The company has a 50 day simple moving average of $13.99 and a two-hundred day simple moving average of $13.98. Gladstone Investment has a 12 month low of $12.14 and a 12 month high of $14.96.

Gladstone Investment (NASDAQ:GAIN) last released its quarterly earnings results on Tuesday, February 6th. The investment management company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Research analysts forecast that Gladstone Investment will post 1.01 earnings per share for the current year.

Institutional Investors Weigh In On Gladstone Investment

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. grew its position in Gladstone Investment by 26.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 16,812 shares of the investment management company’s stock valued at $238,000 after buying an additional 3,495 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in shares of Gladstone Investment during the 4th quarter valued at $168,000. Legal & General Group Plc increased its stake in shares of Gladstone Investment by 6.6% in the 4th quarter. Legal & General Group Plc now owns 257,435 shares of the investment management company’s stock worth $3,643,000 after purchasing an additional 15,869 shares in the last quarter. BNP Paribas Financial Markets bought a new position in Gladstone Investment in the 4th quarter worth $49,000. Finally, International Assets Investment Management LLC purchased a new position in Gladstone Investment during the fourth quarter valued at $144,000. Hedge funds and other institutional investors own 11.85% of the company’s stock.

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.