Gladstone Capital (NASDAQ:GLAD) Reaches New 1-Year High – Here’s What Happened

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

Analyst Upgrades and Downgrades

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

Gladstone Capital Trading Down 1.2 %

The company has a market capitalization of $639.53 million, a P/E ratio of 7.54 and a beta of 1.27. The business has a fifty day moving average of $26.91 and a 200-day moving average of $24.72. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.04 and a current ratio of 0.04.

Gladstone Capital Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th were given a dividend of $0.40 per share. The ex-dividend date of this dividend 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 Transactions at Gladstone Capital

In other Gladstone Capital news, President Bob Marcotte sold 15,500 shares of Gladstone Capital stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $27.35, for a total transaction of $423,925.00. Following the transaction, the president now owns 248,210 shares of the company’s stock, valued at $6,788,543.50. This trade represents a 5.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.96% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp purchased a new position in Gladstone Capital in the third quarter valued at about $12,287,000. International Assets Investment Management LLC increased its holdings in Gladstone Capital by 2,305.0% in the 3rd quarter. International Assets Investment Management LLC now owns 384,535 shares of the investment management company’s stock worth $9,248,000 after acquiring an additional 368,546 shares during the last quarter. Jane Street Group LLC bought a new stake in Gladstone Capital in the 3rd quarter valued at about $485,000. Good Life Advisors LLC lifted its holdings in 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 valued at $429,000 after purchasing an additional 8,979 shares during the last quarter. Finally, D.A. Davidson & CO. boosted its position in Gladstone Capital by 8.7% during the third quarter. D.A. Davidson & CO. now owns 111,569 shares of the investment management company’s stock worth $2,683,000 after purchasing an additional 8,891 shares during the period. 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.