Gladstone Investment (NASDAQ:GAIN) Sees Strong Trading Volume Following Dividend Announcement

Gladstone Investment Co. (NASDAQ:GAIN) saw unusually-strong trading volume on Tuesday following a dividend announcement from the company. Approximately 125,506 shares traded hands during mid-day trading, a decline of 16% from the previous session’s volume of 149,662 shares.The stock last traded at $14.29 and had previously closed at $13.95.

The newly announced dividend which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, December 20th. This represents a $0.96 annualized dividend and a dividend yield of 6.77%. Gladstone Investment’s payout ratio is currently 38.71%.

Analysts Set New Price Targets

A number of research firms recently issued reports on GAIN. B. Riley lowered their target price on shares of Gladstone Investment from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. StockNews.com cut shares of Gladstone Investment from a “hold” rating to a “sell” rating in a research note on Tuesday.

Gladstone Investment Stock Performance

The company has a market capitalization of $520.25 million, a PE ratio of 5.72 and a beta of 1.33. The business has a fifty day moving average price of $13.31 and a 200 day moving average price of $13.77.

Gladstone Investment (NASDAQ:GAIN) last posted its quarterly earnings results on Monday, August 5th. The investment management company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.01). Gladstone Investment had a net margin of 78.48% and a return on equity of 7.20%. The business had revenue of $22.18 million during the quarter, compared to analysts’ expectations of $24.27 million. During the same quarter in the previous year, the business posted $0.25 EPS. Research analysts forecast that Gladstone Investment Co. will post 1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gladstone Investment

Hedge funds and other institutional investors have recently made changes to their positions in the business. Drive Wealth Management LLC purchased a new position in Gladstone Investment in the second quarter valued at about $174,000. Virtu Financial LLC purchased a new stake in shares of Gladstone Investment during the 1st quarter valued at about $198,000. Garner Asset Management Corp lifted its position in Gladstone Investment by 9.1% during the 1st quarter. Garner Asset Management Corp now owns 41,333 shares of the investment management company’s stock worth $588,000 after acquiring an additional 3,451 shares in the last quarter. Legacy Capital Wealth Partners LLC acquired a new position in Gladstone Investment during the 2nd quarter worth approximately $1,425,000. Finally, Blair William & Co. IL boosted its holdings in Gladstone Investment by 0.9% in the 2nd quarter. Blair William & Co. IL now owns 156,333 shares of the investment management company’s stock worth $2,186,000 after acquiring an additional 1,469 shares during the period. Institutional investors and hedge funds 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.