Gladstone Capital (NASDAQ:GLAD) Reaches New 52-Week High – What’s Next?

Gladstone Capital Co. (NASDAQ:GLAD)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $28.17 and last traded at $28.17, with a volume of 183 shares traded. The stock had previously closed at $27.90.

Wall Street Analyst Weigh In

Separately, B. Riley began coverage on Gladstone Capital in a research note on Wednesday, October 23rd. They set a “neutral” rating and a $23.00 price target on the stock.

Gladstone Capital Stock Up 1.5 %

The company has a debt-to-equity ratio of 0.15, a current ratio of 0.04 and a quick ratio of 0.04. The business has a 50 day simple moving average of $25.75 and a 200 day simple moving average of $24.10. The company has a market capitalization of $622.11 million, a price-to-earnings ratio of 7.33 and a beta of 1.28.

Gladstone Capital Increases Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a $0.40 dividend. This is a boost from Gladstone Capital’s previous dividend of $0.17. The ex-dividend date is Wednesday, December 4th. Gladstone Capital’s dividend payout ratio (DPR) is presently 52.11%.

Insider Activity

In other news, President Bob Marcotte sold 15,500 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $27.35, for a total value of $423,925.00. Following the sale, the president now directly owns 248,210 shares in the company, valued at approximately $6,788,543.50. This trade represents a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.08% of the company’s stock.

Institutional Trading of Gladstone Capital

Several hedge funds have recently modified their holdings of GLAD. TrueMark Investments LLC acquired a new stake in shares of Gladstone Capital in the second quarter valued at $1,451,000. nVerses Capital LLC purchased a new position in Gladstone Capital in the second quarter valued at $37,000. Legacy Capital Wealth Partners LLC purchased a new position in Gladstone Capital in the second quarter valued at $1,723,000. National Bank of Canada FI purchased a new position in Gladstone Capital in the second quarter valued at $98,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in Gladstone Capital in the second quarter valued at $32,000. 10.72% of the stock is currently owned by institutional investors and hedge funds.

About Gladstone Capital

Gladstone Capital Corporation is a business development company specializing in lower middle market, growth capital, add on acquisitions, change of control, buy & build strategies, debt refinancing, debt investments in senior term loans, revolving loans, secured first and second lien term loans, senior subordinated loans, unitranche loans, junior subordinated loans, and mezzanine loans and equity investments in the form of common stock, preferred stock, limited liability company interests, or warrants.