Gladstone Capital (NASDAQ:GLAD) Reaches New 1-Year High - Here's Why

Gladstone Capital Co. (NASDAQ:GLAD - Get Free Report)'s share price hit a new 52-week high during trading on Monday . The company traded as high as $28.89 and last traded at $28.89, with a volume of 1988 shares. The stock had previously closed at $27.38.

Wall Street Analyst Weigh In

Separately, B. Riley started coverage on shares of Gladstone Capital in a report on Wednesday, October 23rd. They issued a "neutral" rating and a $23.00 price target on the stock.

Gladstone Capital Stock Performance

The firm's 50-day simple moving average is $26.07 and its two-hundred day simple moving average is $24.28. The company has a market cap of $619.21 million, a PE ratio of 7.30 and a beta of 1.27. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.15.

Gladstone Capital Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were given a $0.40 dividend. This is an increase from Gladstone Capital's previous dividend of $0.17. The ex-dividend date of this dividend was Wednesday, December 4th. Gladstone Capital's dividend payout ratio is presently 52.11%.

Insiders Place Their Bets

In related 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 transaction, the president now owns 248,210 shares in the company, valued at approximately $6,788,543.50. This represents a 5.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.08% of the stock is currently owned by insiders.

Institutional Trading of Gladstone Capital

Several institutional investors and hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp purchased a new position in shares of Gladstone Capital during the third quarter worth $12,287,000. International Assets Investment Management LLC lifted its holdings in shares of Gladstone Capital by 2,305.0% in the 3rd quarter. International Assets Investment Management LLC now owns 384,535 shares of the investment management company's stock valued at $9,248,000 after buying an additional 368,546 shares during the period. Legacy Capital Wealth Partners LLC purchased a new stake in shares of Gladstone Capital in the second quarter worth about $1,723,000. TrueMark Investments LLC purchased a new stake in shares of Gladstone Capital in the second quarter worth about $1,451,000. Finally, Jane Street Group LLC acquired a new stake in Gladstone Capital during the third quarter worth about $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.