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

Gladstone Capital Co. (NASDAQ:GLAD - Get Free Report)'s share price hit a new 52-week high during trading on Thursday following a dividend announcement from the company. The company traded as high as $29.67 and last traded at $29.63, with a volume of 95470 shares. 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. This represents a $1.98 dividend on an annualized basis and a dividend yield of 6.68%. The ex-dividend date of this dividend is Wednesday, March 19th. Gladstone Capital's dividend payout ratio is presently 52.11%.

Analyst Ratings Changes

Separately, B. Riley began coverage on 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 Trading Up 1.8 %

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 firm has a market capitalization of $661.97 million, a P/E ratio of 7.80 and a beta of 1.27. The firm has a 50 day moving average of $27.44 and a 200-day moving average of $24.94.

Insider Activity at Gladstone Capital

In related news, President Bob Marcotte sold 15,500 shares of the business's stock in a transaction that occurred on Wednesday, December 11th. The stock was 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 directly owns 248,210 shares in the company, valued at approximately $6,788,543.50. The trade was a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 3.96% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp acquired a new position in Gladstone Capital during the third quarter valued at approximately $12,287,000. International Assets Investment Management LLC raised 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 purchasing an additional 368,546 shares in the last quarter. D.A. Davidson & CO. raised its position in Gladstone Capital by 8.7% during the third quarter. D.A. Davidson & CO. now owns 111,569 shares of the investment management company's stock valued at $2,683,000 after purchasing an additional 8,891 shares in the last quarter. Kovack Advisors Inc. raised its position in Gladstone Capital by 2.0% during the third quarter. Kovack Advisors Inc. now owns 35,867 shares of the investment management company's stock valued at $863,000 after purchasing an additional 702 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in Gladstone Capital during the third quarter valued at approximately $485,000. 10.72% of the stock is currently owned by institutional investors and hedge funds.

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.

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