Gladstone Capital (NASDAQ:GLAD) Hits New 1-Year High – Here’s Why

Gladstone Capital Co. (NASDAQ:GLAD) reached a new 52-week high during trading on Thursday . The company traded as high as $27.81 and last traded at $25.72, with a volume of 39398 shares. The stock had previously closed at $25.68.

Analyst Upgrades and Downgrades

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 objective for the company.

Gladstone Capital Stock Performance

The company has a market capitalization of $563.33 million, a P/E ratio of 8.56 and a beta of 1.25. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.02 and a current ratio of 0.02. The business’s fifty day simple moving average is $24.06 and its 200-day simple moving average is $23.27.

Gladstone Capital Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be issued a $0.165 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.98 annualized dividend and a dividend yield of 7.64%. Gladstone Capital’s dividend payout ratio (DPR) is 66.00%.

Hedge Funds Weigh In On Gladstone Capital

Several institutional investors have recently bought and sold shares of the business. Newbridge Financial Services Group Inc. purchased a new position in shares of Gladstone Capital in the 2nd quarter worth approximately $32,000. nVerses Capital LLC purchased a new stake in shares of Gladstone Capital in the second quarter valued at $37,000. Farther Finance Advisors LLC purchased a new stake in shares of Gladstone Capital in the third quarter valued at $44,000. PFS Partners LLC lifted its holdings in shares of 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 acquiring an additional 1,200 shares during the last quarter. Finally, National Bank of Canada FI purchased a new position in shares of Gladstone Capital during the 2nd quarter worth about $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.