Closed End Fund Advisors Inc. Purchases New Position in Gladstone Capital Corporation $GLAD

Closed End Fund Advisors Inc. purchased a new stake in Gladstone Capital Corporation (NASDAQ:GLAD) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 26,694 shares of the investment management company’s stock, valued at approximately $551,000. Closed End Fund Advisors Inc. owned about 0.12% of Gladstone Capital as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Garner Asset Management Corp acquired a new position in Gladstone Capital in the 4th quarter valued at about $36,000. UBS Group AG grew its stake in Gladstone Capital by 18.0% in the 4th quarter. UBS Group AG now owns 271,702 shares of the investment management company’s stock valued at $5,613,000 after buying an additional 41,484 shares during the last quarter. SageGuard Financial Group LLC acquired a new position in Gladstone Capital in the 4th quarter valued at about $249,000. Sound Income Strategies LLC acquired a new position in Gladstone Capital in the 4th quarter valued at about $143,000. Finally, Legacy Capital Wealth Partners LLC grew its stake in Gladstone Capital by 15.7% in the 4th quarter. Legacy Capital Wealth Partners LLC now owns 60,644 shares of the investment management company’s stock valued at $1,253,000 after buying an additional 8,237 shares during the last quarter. Institutional investors and hedge funds own 10.72% of the company’s stock.

Gladstone Capital Stock Performance

NASDAQ:GLAD opened at $19.19 on Friday. Gladstone Capital Corporation has a 52 week low of $16.54 and a 52 week high of $29.50. The firm has a market cap of $433.50 million, a price-to-earnings ratio of 10.49 and a beta of 0.92. The firm’s 50-day simple moving average is $18.73 and its 200 day simple moving average is $19.43.

Gladstone Capital (NASDAQ:GLAD) last released its earnings results on Wednesday, May 6th. The investment management company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.49 by $0.03. Gladstone Capital had a net margin of 45.15% and a return on equity of 9.79%. The firm had revenue of $25.99 million for the quarter, compared to analyst estimates of $25.19 million. Sell-side analysts anticipate that Gladstone Capital Corporation will post 2.01 EPS for the current year.

Gladstone Capital Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd will be issued a $0.15 dividend. This represents a c) annualized dividend and a yield of 9.4%. The ex-dividend date of this dividend is Tuesday, June 23rd. Gladstone Capital’s dividend payout ratio (DPR) is currently 98.36%.

Analyst Upgrades and Downgrades

GLAD has been the topic of a number of recent research reports. B. Riley Financial reaffirmed a “buy” rating on shares of Gladstone Capital in a research report on Friday, May 8th. Jefferies Financial Group set a $21.00 price target on shares of Gladstone Capital and gave the stock a “hold” rating in a research report on Friday, February 6th. Finally, Wall Street Zen raised shares of Gladstone Capital from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $21.67.

About Gladstone Capital

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.