Gladstone Capital Co. (NASDAQ:GLAD) Sees Large Decrease in Short Interest

Gladstone Capital Co. (NASDAQ:GLAD) was the recipient of a large decline in short interest in the month of November. As of November 30th, there was short interest totalling 728,700 shares, a decline of 7.9% from the November 15th total of 791,200 shares. Currently, 3.4% of the shares of the company are sold short. Based on an average daily volume of 129,900 shares, the short-interest ratio is presently 5.6 days.

Gladstone Capital Stock Performance

GLAD traded down $0.40 on Monday, hitting $27.50. 68,938 shares of the company traded hands, compared to its average volume of 128,154. The company has a 50 day moving average of $25.68 and a 200-day moving average of $24.06. Gladstone Capital has a 12-month low of $19.20 and a 12-month high of $28.09. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $614.08 million, a PE ratio of 7.33 and a beta of 1.28.

Gladstone Capital Increases Dividend

The business also recently declared a dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.40 per share. This is an increase from Gladstone Capital’s previous dividend of $0.17. The ex-dividend date of this dividend is Wednesday, December 4th. Gladstone Capital’s dividend payout ratio (DPR) is presently 52.11%.

Insider Activity at Gladstone Capital

In other news, President Bob Marcotte sold 15,500 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $27.35, for a total value of $423,925.00. Following the completion of the sale, the president now owns 248,210 shares of the company’s stock, valued at $6,788,543.50. This represents a 5.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 4.08% of the company’s stock.

Institutional Investors Weigh In On Gladstone Capital

Several institutional investors and hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp purchased a new position in shares of Gladstone Capital in the 3rd quarter worth about $12,287,000. International Assets Investment Management LLC grew its stake in Gladstone Capital by 2,305.0% in the third quarter. International Assets Investment Management LLC now owns 384,535 shares of the investment management company’s stock worth $9,248,000 after purchasing an additional 368,546 shares in the last quarter. Legacy Capital Wealth Partners LLC acquired a new stake in shares of Gladstone Capital during the second quarter worth $1,723,000. TrueMark Investments LLC acquired a new stake in shares of Gladstone Capital during the 2nd quarter worth approximately $1,451,000. Finally, Jane Street Group LLC acquired a new position in shares of Gladstone Capital during the third quarter valued at $485,000. 10.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.