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

Gladstone Capital Co. (NASDAQ:GLAD) shares reached a new 52-week high on Monday . The company traded as high as $29.48 and last traded at $29.20, with a volume of 19672 shares. The stock had previously closed at $29.08.

Analyst Upgrades and Downgrades

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

Gladstone Capital Price Performance

The company has a 50 day moving average of $26.73 and a 200-day moving average of $24.63. The firm has a market capitalization of $646.45 million, a P/E ratio of 7.62 and a beta of 1.28. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.15.

Gladstone Capital Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 4th. This is an increase from Gladstone Capital’s previous dividend of $0.17. Gladstone Capital’s payout ratio is presently 52.11%.

Insider Buying and Selling

In other Gladstone Capital news, President Bob Marcotte sold 15,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $27.35, for a total transaction of $423,925.00. Following the completion of the sale, the president now directly owns 248,210 shares of the company’s stock, valued at approximately $6,788,543.50. The trade was a 5.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.08% of the stock is owned by insiders.

Institutional Investors Weigh In On Gladstone Capital

Several large investors have recently modified their holdings of the stock. Van ECK Associates Corp bought a new position in shares of Gladstone Capital during the 3rd quarter worth $12,287,000. International Assets Investment Management LLC increased 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 worth $9,248,000 after purchasing an additional 368,546 shares in the last quarter. D.A. Davidson & CO. raised its position 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 during the period. Kovack Advisors Inc. lifted its stake in shares of Gladstone Capital by 2.0% during the 3rd quarter. Kovack Advisors Inc. now owns 35,867 shares of the investment management company’s stock valued at $863,000 after buying an additional 702 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in Gladstone Capital in the 3rd quarter worth approximately $485,000. Hedge funds and other 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.