Gladstone Investment Co. (NASDAQ:GAIN) announced a dividend on Tuesday, October 9th, NASDAQ reports. Shareholders of record on Thursday, December 6th will be given a dividend of 0.06 per share by the investment management company on Friday, December 14th. The ex-dividend date is Wednesday, December 5th.
Gladstone Investment has raised its dividend payment by an average of 2.1% per year over the last three years and has increased its dividend every year for the last 5 years. Gladstone Investment has a payout ratio of 107.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Gladstone Investment to earn $0.76 per share next year, which means the company may not be able to cover its $0.82 annual dividend with an expected future payout ratio of 107.9%.
NASDAQ GAIN opened at $10.11 on Tuesday. The company has a market capitalization of $326.26 million, a price-to-earnings ratio of 13.43 and a beta of 0.60. Gladstone Investment has a 12-month low of $9.00 and a 12-month high of $12.26.
In other news, President David A. R. Dullum acquired 5,600 shares of Gladstone Investment stock in a transaction dated Thursday, November 8th. The stock was acquired at an average cost of $9.94 per share, for a total transaction of $55,664.00. Following the completion of the purchase, the president now owns 91,816 shares of the company’s stock, valued at $912,651.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.51% of the stock is currently owned by insiders.
GAIN has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Gladstone Investment from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research note on Tuesday, August 7th. BidaskClub upgraded shares of Gladstone Investment from a “strong sell” rating to a “sell” rating in a research note on Tuesday, November 13th. Finally, ValuEngine cut shares of Gladstone Investment from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. Gladstone Investment has a consensus rating of “Hold” and an average price target of $12.00.
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Gladstone Investment Company Profile
Gladstone Investment Corporation is a private equity fund specializing in lower middle market, acquisitions, mature stage, buyouts; recapitalizations; 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.
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