Gladstone Capital (NASDAQ:GLAD) Hits New 1-Year High – Here’s Why

Shares of Gladstone Capital Co. (NASDAQ:GLAD) hit a new 52-week high during trading on Tuesday . The company traded as high as $30.37 and last traded at $30.26, with a volume of 26235 shares traded. The stock had previously closed at $29.99.

Wall Street Analyst Weigh In

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

Gladstone Capital Stock Performance

The firm’s fifty day moving average price is $28.27 and its 200-day moving average price is $25.37. The company has a market cap of $663.31 million, a P/E ratio of 7.82 and a beta of 1.27. 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 Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 27th will be paid a dividend of $0.165 per share. The ex-dividend date is Friday, January 24th. This represents a yield of 6.57%. Gladstone Capital’s dividend payout ratio is currently 52.11%.

Insider Activity

In other Gladstone Capital news, President Bob Marcotte sold 15,500 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $27.35, for a total value of $423,925.00. Following the sale, the president now directly owns 248,210 shares in the company, valued at $6,788,543.50. This represents a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.96% of the company’s stock.

Institutional Investors Weigh In On Gladstone Capital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GLAD. Fortress Financial Solutions LLC acquired a new stake in shares of Gladstone Capital during the fourth quarter worth $438,000. Kingsview Wealth Management LLC acquired a new stake in Gladstone Capital during the 4th quarter worth approximately $322,000. Register Financial Advisors LLC acquired a new position in Gladstone Capital in the 4th quarter worth $92,000. Atomi Financial Group Inc. bought a new position in shares of Gladstone Capital during the fourth quarter worth about $510,000. Finally, Jane Street Group LLC bought a new position in shares of Gladstone Capital in the 3rd quarter valued at about $485,000. Institutional investors and hedge funds 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.