Gladstone Capital (NASDAQ:GLAD) Hits New 52-Week High Following Dividend Announcement

Gladstone Capital Co. (NASDAQ:GLAD)’s share price hit a new 52-week high on Wednesday following a dividend announcement from the company. The stock 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. Shareholders of record on Monday, January 27th will be paid a dividend of $0.165 per share. This represents a dividend yield of 6.57%. The ex-dividend date is Friday, January 24th. Gladstone Capital’s dividend payout ratio (DPR) is currently 52.11%.

Analysts Set New Price Targets

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

Gladstone Capital Trading Down 0.4 %

The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.15. The company’s fifty day simple moving average is $27.90 and its two-hundred day simple moving average is $25.16. The company has a market capitalization of $673.03 million, a price-to-earnings ratio of 7.93 and a beta of 1.27.

Insider Buying and Selling

In other news, President Bob Marcotte sold 15,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $27.35, for a total value of $423,925.00. Following the completion of the transaction, the president now directly owns 248,210 shares in the company, valued at approximately $6,788,543.50. The trade was a 5.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.96% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Gladstone Capital

Hedge funds and other institutional investors have recently made changes to their positions in the company. Newbridge Financial Services Group Inc. bought a new stake in shares of Gladstone Capital during the 2nd quarter valued at approximately $32,000. Farther Finance Advisors LLC acquired a new position in Gladstone Capital during the third quarter worth $44,000. PFS Partners LLC raised its holdings in Gladstone Capital by 156.0% during the third quarter. PFS Partners LLC now owns 1,969 shares of the investment management company’s stock worth $47,000 after buying an additional 1,200 shares during the last quarter. Register Financial Advisors LLC purchased a new stake in shares of Gladstone Capital in the fourth quarter valued at about $92,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Gladstone Capital in the third quarter valued at about $105,000. 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.