Gladstone Capital (NASDAQ:GLAD) Sets New 12-Month High After Dividend Announcement

Gladstone Capital Co. (NASDAQ:GLAD)’s stock price reached a new 52-week high on Wednesday after the company announced a dividend. The company traded as high as $30.30 and last traded at $30.26, with a volume of 167819 shares changing hands. The stock had previously closed at $29.80.

The newly announced dividend which will be paid on Friday, January 31st. Stockholders of record on Monday, January 27th will be issued a $0.165 dividend. The ex-dividend date of this dividend is Friday, January 24th. This represents a dividend yield of 6.56%. Gladstone Capital’s dividend payout ratio is presently 52.11%.

Analyst Upgrades and Downgrades

Separately, B. Riley started coverage on shares of Gladstone Capital in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $23.00 price objective on the stock.

Gladstone Capital Price Performance

The company has a market cap of $674.14 million, a PE ratio of 7.94 and a beta of 1.27. The business’s 50 day moving average price is $27.99 and its 200-day moving average price is $25.20. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.15.

Insider Activity

In related news, President Bob Marcotte sold 15,500 shares of Gladstone Capital stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $27.35, for a total value of $423,925.00. Following the transaction, the president now owns 248,210 shares of the company’s stock, valued at approximately $6,788,543.50. This trade represents a 5.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.96% of the company’s stock.

Institutional Investors Weigh In On Gladstone Capital

Large investors have recently made changes to their positions in the company. Van ECK Associates Corp acquired a new position in shares of Gladstone Capital during the third quarter worth approximately $12,287,000. International Assets Investment Management LLC raised its stake in shares of Gladstone Capital by 2,305.0% in the third quarter. International Assets Investment Management LLC now owns 384,535 shares of the investment management company’s stock valued at $9,248,000 after purchasing an additional 368,546 shares in the last quarter. D.A. Davidson & CO. raised its stake in shares of Gladstone Capital by 8.7% in the third quarter. D.A. Davidson & CO. now owns 111,569 shares of the investment management company’s stock valued at $2,683,000 after purchasing an additional 8,891 shares in the last quarter. Kovack Advisors Inc. raised its stake in shares of Gladstone Capital by 2.0% in the third quarter. Kovack Advisors Inc. now owns 35,867 shares of the investment management company’s stock valued at $863,000 after purchasing an additional 702 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Gladstone Capital in the third quarter valued at $485,000. Institutional investors own 10.72% of the company’s stock.

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.