Gladstone Capital (NASDAQ:GLAD) Sets New 12-Month High After Dividend Announcement

Gladstone Capital Co. (NASDAQ:GLAD)’s stock price hit a new 52-week high during trading 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 traded. The stock had previously closed at $29.80.

The newly announced dividend which will be paid on Friday, January 31st. Investors of record on Monday, January 27th will be paid a $0.165 dividend. This represents a yield of 6.56%. The ex-dividend date is Friday, January 24th. Gladstone Capital’s dividend payout ratio (DPR) is 52.11%.

Analyst Upgrades and Downgrades

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

Gladstone Capital Stock Performance

The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.15. The firm’s 50-day moving average is $27.99 and its two-hundred day moving average is $25.20. The stock has a market cap of $674.14 million, a price-to-earnings ratio of 7.94 and a beta of 1.27.

Insider Buying and Selling at Gladstone Capital

In other Gladstone Capital news, President Bob Marcotte sold 15,500 shares of the firm’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 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 sale was disclosed in a filing with the SEC, which is available at this link. 3.96% of the stock is owned by insiders.

Institutional Investors Weigh In On Gladstone Capital

Institutional investors have recently modified their holdings of the company. Newbridge Financial Services Group Inc. acquired a new stake in Gladstone Capital during the 2nd quarter worth $32,000. Farther Finance Advisors LLC acquired a new position in Gladstone Capital in the third quarter valued at $44,000. PFS Partners LLC increased its stake in Gladstone Capital by 156.0% in the third quarter. PFS Partners LLC now owns 1,969 shares of the investment management company’s stock valued at $47,000 after purchasing an additional 1,200 shares during the period. 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 owned by hedge funds and other institutional investors.

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.