Gladstone Capital (NASDAQ:GLAD) Hits New 52-Week High – Here’s What Happened

Gladstone Capital Co. (NASDAQ:GLAD)’s share price reached a new 52-week high on Monday . The stock traded as high as $29.48 and last traded at $29.20, with a volume of 19672 shares traded. The stock had previously closed at $29.08.

Wall Street Analyst Weigh In

Separately, B. Riley assumed coverage on Gladstone Capital in a research note on Wednesday, October 23rd. They set a “neutral” rating and a $23.00 price objective for the company.

Gladstone Capital Price Performance

The firm has a market capitalization of $646.45 million, a PE ratio of 7.62 and a beta of 1.28. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.04 and a quick ratio of 0.04. The business’s 50 day moving average is $26.73 and its two-hundred day moving average is $24.63.

Gladstone Capital Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 4th. This is an increase from Gladstone Capital’s previous dividend of $0.17. Gladstone Capital’s dividend payout ratio (DPR) is 52.11%.

Insider Activity

In related news, President Bob Marcotte sold 15,500 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $27.35, for a total transaction of $423,925.00. Following the completion of 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.08% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Newbridge Financial Services Group Inc. bought a new stake in Gladstone Capital during the 2nd quarter valued at $32,000. Farther Finance Advisors LLC purchased a new position in Gladstone Capital during the 3rd quarter valued at about $44,000. PFS Partners LLC raised its position in Gladstone Capital by 156.0% during the 3rd quarter. PFS Partners LLC now owns 1,969 shares of the investment management company’s stock valued at $47,000 after purchasing an additional 1,200 shares during the last quarter. National Bank of Canada FI purchased a new stake in Gladstone Capital in the 2nd quarter worth approximately $98,000. Finally, Quantbot Technologies LP bought a new stake in shares of Gladstone Capital in the 3rd quarter worth approximately $105,000. 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.