Gladstone Capital (NASDAQ:GLAD) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Gladstone Capital Corporation (NASDAQ:GLAD) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $18.95 and traded as high as $20.19. Gladstone Capital shares last traded at $19.90, with a volume of 201,997 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Gladstone Capital from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 2nd. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $21.67.

Gladstone Capital Trading Down 1.5%

The firm has a market cap of $437.79 million, a PE ratio of 9.41 and a beta of 0.93. The company has a 50-day simple moving average of $19.59 and a 200 day simple moving average of $18.96.

Gladstone Capital (NASDAQ:GLAD) last posted its earnings results on Tuesday, August 4th. The investment management company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.01. Gladstone Capital had a net margin of 50.48% and a return on equity of 9.67%. The firm had revenue of $24.50 million during the quarter, compared to analyst estimates of $24.90 million. On average, equities analysts expect that Gladstone Capital Corporation will post 1.99 earnings per share for the current year.

Gladstone Capital Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Thursday, September 10th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, September 10th. Gladstone Capital’s payout ratio is presently 87.38%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. WFA of San Diego LLC acquired a new stake in shares of Gladstone Capital during the 2nd quarter valued at about $42,000. JPMorgan Chase & Co. acquired a new position in Gladstone Capital in the 2nd quarter worth about $46,000. Larson Financial Group LLC boosted its position in Gladstone Capital by 380.0% during the third quarter. Larson Financial Group LLC now owns 2,400 shares of the investment management company’s stock worth $52,000 after purchasing an additional 1,900 shares in the last quarter. Advisory Services Network LLC purchased a new position in Gladstone Capital during the third quarter worth approximately $74,000. Finally, Quantbot Technologies LP boosted its position in Gladstone Capital by 52.7% during the second quarter. Quantbot Technologies LP now owns 4,272 shares of the investment management company’s stock worth $115,000 after purchasing an additional 1,474 shares in the last quarter. Institutional investors and hedge funds own 10.72% of the company’s stock.

Gladstone Capital Company Profile

Gladstone Capital Corporation is a publicly traded business development company (BDC) that provides debt and equity financing solutions to U.S. lower middle-market companies. Operating under an external management agreement with Gladstone Management L.P., the firm offers senior secured loans, mezzanine debt and equity investments designed to support growth initiatives, acquisitions and recapitalizations. Through its focus on privately held businesses, Gladstone Capital seeks to construct a diversified portfolio across various industry sectors.

Since its formation in 2003, Gladstone Capital has developed a track record of working closely with management teams and business owners to meet their capital needs.