Gladstone Investment Co. (GAIN) To Go Ex-Dividend on October 22nd

Gladstone Investment Co. (NASDAQ:GAIN) declared a monthly dividend on Tuesday, October 8th, Wall Street Journal reports. Investors of record on Tuesday, October 22nd will be paid a dividend of 0.08 per share by the investment management company on Thursday, October 31st. This represents a $0.96 dividend on an annualized basis and a yield of 6.77%. The ex-dividend date of this dividend is Tuesday, October 22nd.

Gladstone Investment has a 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 decline. Equities research analysts expect Gladstone Investment to earn $0.97 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 99.0%.

Gladstone Investment Price Performance

NASDAQ GAIN traded down $0.04 during trading on Monday, reaching $14.18. 167,081 shares of the company’s stock were exchanged, compared to its average volume of 150,819. Gladstone Investment has a fifty-two week low of $12.25 and a fifty-two week high of $14.96. The stock has a market capitalization of $520.25 million, a P/E ratio of 5.68 and a beta of 1.33. The business has a 50 day moving average price of $13.39 and a 200-day moving average price of $13.78.

Gladstone Investment (NASDAQ:GAIN) last announced its quarterly 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). The company had revenue of $22.18 million during the quarter, compared to analyst estimates of $24.27 million. Gladstone Investment had a net margin of 78.48% and a return on equity of 7.20%. During the same quarter last year, the company posted $0.25 EPS. On average, analysts forecast that Gladstone Investment will post 1 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on GAIN. B. Riley reduced their price target on shares of Gladstone Investment from $14.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. StockNews.com lowered shares of Gladstone Investment from a “hold” rating to a “sell” rating in a report on Tuesday, October 15th.

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.