Gladstone Investment Co. (NASDAQ:GAIN) declared a monthly dividend on Tuesday, October 13th, Zacks reports. Shareholders of record on Friday, October 23rd will be given a dividend of 0.07 per share by the investment management company on Friday, October 30th. This represents a $0.84 annualized dividend and a yield of 9.38%. The ex-dividend date is Thursday, October 22nd.
Gladstone Investment has a payout ratio of 158.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Gladstone Investment to earn $0.72 per share next year, which means the company may not be able to cover its $0.84 annual dividend with an expected future payout ratio of 116.7%.
NASDAQ GAIN opened at $8.96 on Wednesday. The company has a market cap of $297.52 million, a P/E ratio of -22.40 and a beta of 1.36. The stock has a 50-day moving average of $9.17 and a two-hundred day moving average of $9.83. Gladstone Investment has a 1-year low of $6.43 and a 1-year high of $15.34.
GAIN has been the subject of several research reports. Zacks Investment Research downgraded Gladstone Investment from a “hold” rating to a “sell” rating in a research report on Monday. ValuEngine raised Gladstone Investment from a “sell” rating to a “hold” rating in a research report on Wednesday, July 29th. Finally, BidaskClub downgraded Gladstone Investment from a “hold” rating to a “sell” rating in a research report on Saturday, October 10th. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $12.50.
About Gladstone Investment
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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