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

Gladstone Capital Co. (NASDAQ:GLAD)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $28.17 and last traded at $28.17, with a volume of 183 shares trading hands. The stock had previously closed at $27.90.

Wall Street Analyst Weigh In

Separately, B. Riley started coverage on 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 Stock Performance

The firm has a fifty day simple moving average of $25.75 and a 200-day simple moving average of $24.10. The company has a market cap of $622.11 million, a PE ratio of 7.33 and a beta of 1.28. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.15.

Gladstone Capital Increases Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $0.40 per share. This is a positive change from Gladstone Capital’s previous dividend of $0.17. The ex-dividend date is Wednesday, December 4th. Gladstone Capital’s dividend payout ratio (DPR) is presently 52.11%.

Insiders Place Their Bets

In other Gladstone Capital news, President Bob Marcotte sold 15,500 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was 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 approximately $6,788,543.50. This trade represents a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.08% of the company’s stock.

Hedge Funds Weigh In On Gladstone Capital

Several hedge funds have recently made changes to their positions in the company. Jane Street Group LLC purchased a new position in shares of Gladstone Capital during the third quarter worth about $485,000. Quantbot Technologies LP purchased a new position in shares of Gladstone Capital during the third quarter worth about $105,000. D.A. Davidson & CO. grew its holdings in shares of 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 buying an additional 8,891 shares during the last quarter. Kovack Advisors Inc. grew its holdings in shares of Gladstone Capital by 2.0% during the third quarter. Kovack Advisors Inc. now owns 35,867 shares of the investment management company’s stock worth $863,000 after buying an additional 702 shares during the last quarter. Finally, PFS Partners LLC grew its holdings in shares of 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. 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.