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

Gladstone Capital Co. (NASDAQ:GLAD) shares reached a new 52-week high during trading on Tuesday following a dividend announcement from the company. The company traded as high as $24.75 and last traded at $24.75, with a volume of 47956 shares trading hands. The stock had previously closed at $24.47.

The newly announced dividend which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 20th will be paid a dividend of $0.165 per share. This represents a $1.98 dividend on an annualized basis and a yield of 8.03%. The ex-dividend date of this dividend is Friday, December 20th. Gladstone Capital’s payout ratio is 71.74%.

Gladstone Capital Stock Performance

The stock has a market cap of $536.24 million, a P/E ratio of 8.93 and a beta of 1.26. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.02 and a quick ratio of 0.02. The firm’s 50-day moving average price is $23.24 and its 200-day moving average price is $22.69.

Gladstone Capital (NASDAQ:GLAD) last released its quarterly earnings data on Wednesday, August 7th. The investment management company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.04. Gladstone Capital had a net margin of 78.40% and a return on equity of 10.87%. The firm had revenue of $25.69 million for the quarter, compared to analysts’ expectations of $24.69 million. Sell-side analysts expect that Gladstone Capital Co. will post 2.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Newbridge Financial Services Group Inc. bought a new position in shares of Gladstone Capital in the second quarter worth about $32,000. National Bank of Canada FI purchased a new stake in Gladstone Capital in the second quarter worth about $98,000. Legacy Capital Wealth Partners LLC purchased a new stake in Gladstone Capital in the second quarter worth about $1,723,000. nVerses Capital LLC purchased a new stake in Gladstone Capital in the second quarter worth about $37,000. Finally, TrueMark Investments LLC purchased a new stake in Gladstone Capital in the second quarter worth about $1,451,000. Institutional investors own 10.72% of the company’s stock.

Gladstone Capital Company Profile

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.