Van ECK Associates Corp Takes $12.29 Million Position in Gladstone Capital Co. (NASDAQ:GLAD)

Van ECK Associates Corp purchased a new position in shares of Gladstone Capital Co. (NASDAQ:GLAD) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 506,067 shares of the investment management company’s stock, valued at approximately $12,287,000. Van ECK Associates Corp owned about 2.33% of Gladstone Capital as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in GLAD. Newbridge Financial Services Group Inc. purchased a new position in shares of Gladstone Capital during the second quarter worth approximately $32,000. nVerses Capital LLC purchased a new position in Gladstone Capital during the 2nd quarter worth $37,000. Farther Finance Advisors LLC acquired a new position in Gladstone Capital in the third quarter valued at $44,000. National Bank of Canada FI purchased a new stake in shares of Gladstone Capital in the second quarter valued at about $98,000. Finally, Good Life Advisors LLC boosted its stake in shares of Gladstone Capital by 101.2% during the third quarter. Good Life Advisors LLC now owns 17,850 shares of the investment management company’s stock worth $429,000 after buying an additional 8,979 shares during the period. Institutional investors and hedge funds own 10.72% of the company’s stock.

Gladstone Capital Price Performance

Shares of NASDAQ GLAD opened at $24.06 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.02 and a quick ratio of 0.02. The company has a market cap of $523.31 million, a PE ratio of 8.02 and a beta of 1.25. The stock has a fifty day moving average price of $23.75 and a 200 day moving average price of $23.12. Gladstone Capital Co. has a 1-year low of $19.20 and a 1-year high of $25.29.

Gladstone Capital (NASDAQ:GLAD) last released its earnings results on Wednesday, August 7th. The investment management company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.53 by $0.04. Gladstone Capital had a net margin of 78.40% and a return on equity of 10.87%. The company had revenue of $25.69 million during the quarter, compared to analysts’ expectations of $24.69 million. Sell-side analysts forecast that Gladstone Capital Co. will post 2.13 EPS for the current year.

Gladstone Capital Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 20th will be issued a $0.165 dividend. This represents a $1.98 dividend on an annualized basis and a yield of 8.23%. The ex-dividend date is Friday, December 20th. Gladstone Capital’s dividend payout ratio is presently 66.00%.

Analyst Upgrades and Downgrades

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 objective for the company.

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.