Gladstone Investment Co. (NASDAQ:GAIN) Announces Dividend of $0.70

Gladstone Investment Co. (NASDAQ:GAIN) declared a dividend on Tuesday, September 17th, NASDAQ reports. Investors of record on Friday, October 4th will be paid a dividend of 0.70 per share by the investment management company on Monday, October 14th. The ex-dividend date of this dividend is Friday, October 4th.

Gladstone Investment has a payout ratio of 91.4% indicating that 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 $0.98 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 98.0%.

Gladstone Investment Stock Up 1.3 %

NASDAQ:GAIN traded up $0.18 on Thursday, reaching $13.63. The company’s stock had a trading volume of 202,901 shares, compared to its average volume of 141,510. The firm has a market cap of $500.07 million, a price-to-earnings ratio of 5.52 and a beta of 1.33. Gladstone Investment has a 12-month low of $12.14 and a 12-month high of $14.96. The stock has a 50 day moving average price of $13.30 and a 200 day moving average price of $13.77.

Gladstone Investment (NASDAQ:GAIN) last posted its earnings results on Monday, August 5th. The investment management company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). Gladstone Investment had a net margin of 78.48% and a return on equity of 7.20%. The company had revenue of $22.18 million during the quarter, compared to analyst estimates of $24.27 million. During the same period in the previous year, the company earned $0.25 EPS. Equities research analysts expect that Gladstone Investment will post 0.99 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, B. Riley dropped 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.

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.