Gladstone Capital (NASDAQ:GLAD) Reaches New 1-Year High After Dividend Announcement

Gladstone Capital Co. (NASDAQ:GLAD)’s share price hit a new 52-week high on Thursday after the company announced a dividend. The company traded as high as $29.67 and last traded at $29.63, with a volume of 95470 shares trading hands. The stock had previously closed at $29.13.

The newly announced dividend which will be paid on Monday, March 31st. Stockholders of record on Wednesday, March 19th will be issued a dividend of $0.165 per share. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $1.98 annualized dividend and a dividend yield of 6.68%. Gladstone Capital’s dividend payout ratio (DPR) is presently 52.11%.

Analyst Ratings Changes

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

Gladstone Capital Stock Up 1.8 %

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 company has a market capitalization of $661.97 million, a price-to-earnings ratio of 7.80 and a beta of 1.27. The firm’s fifty day moving average price is $27.44 and its 200-day moving average price is $24.94.

Insider Buying and Selling

In related news, President Bob Marcotte sold 15,500 shares of the business’s stock in a transaction 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 sale, the president now owns 248,210 shares of the company’s stock, valued at $6,788,543.50. The trade was a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.96% of the stock is currently owned by insiders.

Institutional Trading of Gladstone Capital

Several institutional investors have recently modified their holdings of GLAD. Newbridge Financial Services Group Inc. bought a new stake in shares of Gladstone Capital in the second quarter worth $32,000. Good Life Advisors LLC boosted its position in Gladstone Capital by 101.2% during the third quarter. Good Life Advisors LLC now owns 17,850 shares of the investment management company’s stock valued at $429,000 after acquiring an additional 8,979 shares during the last quarter. International Assets Investment Management LLC boosted its position in Gladstone Capital by 2,305.0% during the third quarter. International Assets Investment Management LLC now owns 384,535 shares of the investment management company’s stock valued at $9,248,000 after acquiring an additional 368,546 shares during the last quarter. Farther Finance Advisors LLC bought a new stake in Gladstone Capital during the third quarter valued at $44,000. Finally, Van ECK Associates Corp bought a new stake in Gladstone Capital during the third quarter valued at $12,287,000. 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.