Gladstone Capital Co. (NASDAQ:GLAD) Sees Significant Growth in Short Interest

Gladstone Capital Co. (NASDAQ:GLAD) was the recipient of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 791,200 shares, a growth of 20.0% from the October 31st total of 659,500 shares. Currently, 3.7% of the shares of the company are sold short. Based on an average daily volume of 125,600 shares, the days-to-cover ratio is currently 6.3 days.

Analyst Upgrades and Downgrades

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

Gladstone Capital Price Performance

Shares of NASDAQ GLAD opened at $27.83 on Tuesday. The firm has a market capitalization of $621.44 million, a P/E ratio of 7.32 and a beta of 1.25. 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 has a twelve month low of $19.20 and a twelve month high of $28.09. The stock’s 50-day simple moving average is $24.98 and its two-hundred day simple moving average is $23.70.

Gladstone Capital Increases Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This is an increase from Gladstone Capital’s previous dividend of $0.17. Gladstone Capital’s payout ratio is currently 52.11%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GLAD. Newbridge Financial Services Group Inc. purchased a new position in shares of Gladstone Capital in the second quarter worth $32,000. nVerses Capital LLC bought a new position in shares of Gladstone Capital in the second quarter worth approximately $37,000. Farther Finance Advisors LLC purchased a new stake in shares of Gladstone Capital in the third quarter worth $44,000. PFS Partners LLC lifted its holdings in Gladstone Capital by 156.0% in the 3rd quarter. PFS Partners LLC now owns 1,969 shares of the investment management company’s stock worth $47,000 after purchasing an additional 1,200 shares in the last quarter. Finally, National Bank of Canada FI purchased a new position in Gladstone Capital during the 2nd quarter valued at approximately $98,000. 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.