Gladstone Investment (NASDAQ:GAIN) Sees Unusually-High Trading Volume After Dividend Announcement

Gladstone Investment Co. (NASDAQ:GAIN) saw an uptick in trading volume on Tuesday following a dividend announcement from the company. 125,506 shares changed hands during 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. Investors of record on Friday, December 20th will be issued a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 6.80%. The ex-dividend date is Friday, December 20th. Gladstone Investment’s dividend payout ratio (DPR) is 38.71%.

Analyst Upgrades and Downgrades

GAIN has been the subject of a number of recent analyst reports. StockNews.com lowered Gladstone Investment from a “hold” rating to a “sell” rating in a report on Tuesday. B. Riley decreased their price objective on Gladstone Investment from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th.

Gladstone Investment Stock Performance

The business has a 50 day simple moving average of $13.28 and a 200-day simple moving average of $13.77. The stock has a market capitalization of $518.05 million, a P/E ratio of 5.69 and a beta of 1.33.

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

Hedge Funds Weigh In On Gladstone Investment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GAIN. Drive Wealth Management LLC bought a new position in Gladstone Investment during the 2nd quarter valued at $174,000. Virtu Financial LLC bought a new stake in shares of Gladstone Investment during the 1st quarter worth $198,000. Garner Asset Management Corp boosted its stake in shares of 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 shares of Gladstone Investment in the 2nd quarter worth $1,425,000. Finally, Blair William & Co. IL grew its holdings in shares of 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 last quarter. 11.85% of the stock is owned by institutional investors.

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.