Gladstone Investment Corporation (NASDAQ:GAIN) posted its quarterly earnings results on Wednesday. The investment management company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.17 by $0.01, Bloomberg Earnings reports. Gladstone Investment Corporation had a net margin of 80.07% and a return on equity of 6.95%. The company had revenue of $13.13 million during the quarter, compared to analysts’ expectations of $12.22 million.
The business also recently disclosed a special dividend, which will be paid on Friday, December 15th. Stockholders of record on Tuesday, December 5th will be given a dividend of $0.06 per share. The ex-dividend date is Monday, December 4th. This represents a dividend yield of 7.93%. Gladstone Investment Corporation’s dividend payout ratio is presently 57.78%.
Several research analysts have commented on GAIN shares. Zacks Investment Research cut shares of Gladstone Investment Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. BidaskClub cut shares of Gladstone Investment Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Jefferies Group LLC reiterated a “hold” rating and set a $9.00 price target on shares of Gladstone Investment Corporation in a report on Wednesday, August 16th. Finally, ValuEngine upgraded shares of Gladstone Investment Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $9.50.
Gladstone Investment Corporation Company Profile
Gladstone Investment Corporation is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objectives are to achieve and grow current income by investing in debt securities of established businesses that it believes will provide stable earnings and cash flow to pay expenses, make principal and interest payments on its outstanding indebtedness and make distributions to stockholders that grow over time, and provide its stockholders with long-term capital appreciation in the value of its assets by investing in equity securities, generally in combination with the aforementioned debt securities, of businesses that it believes can grow over time to permit it to sell its equity investments for capital gains.
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