Gladstone Investment (NASDAQ:GAIN) announced its earnings results on Tuesday. The investment management company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.05, Bloomberg Earnings reports. The business had revenue of $16.18 million for the quarter, compared to analysts’ expectations of $13.42 million. Gladstone Investment had a return on equity of 7.58% and a net margin of 87.19%.
Gladstone Investment (NASDAQ:GAIN) traded up $0.05 during mid-day trading on Thursday, hitting $10.47. The stock had a trading volume of 116,720 shares, compared to its average volume of 278,975. Gladstone Investment has a 12-month low of $8.45 and a 12-month high of $11.50. The stock has a market cap of $305.75, a PE ratio of 6.86 and a beta of 0.54.
The business also recently disclosed a monthly dividend, which will be paid on Friday, March 30th. Stockholders of record on Tuesday, March 20th will be given a dividend of $0.065 per share. The ex-dividend date of this dividend is Monday, March 19th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 7.45%. Gladstone Investment’s payout ratio is currently 51.32%.
GAIN has been the topic of several research reports. ValuEngine raised Gladstone Investment from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Wedbush cut Gladstone Investment from an “outperform” rating to a “neutral” rating and raised their target price for the stock from $10.50 to $11.00 in a research report on Monday, November 20th. Zacks Investment Research raised Gladstone Investment from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Monday, November 6th. Jefferies Group raised their target price on Gladstone Investment from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, November 3rd. Finally, BidaskClub cut Gladstone Investment from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 23rd. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $11.00.
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Gladstone Investment 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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