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

Gladstone Capital Co. (NASDAQ:GLAD - Get Free Report)'s share price reached a new 52-week high on Tuesday . The stock traded as high as $30.37 and last traded at $30.26, with a volume of 26235 shares traded. The stock had previously closed at $29.99.

Analyst Ratings Changes

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

Gladstone Capital Trading Up 0.5 %

The company has a market cap of $666.33 million, a P/E ratio of 7.85 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. The stock's 50 day moving average is $28.34 and its 200-day moving average is $25.40.

Gladstone Capital Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 27th will be given a $0.165 dividend. The ex-dividend date is Friday, January 24th. This represents a yield of 6.57%. Gladstone Capital's dividend payout ratio (DPR) is presently 52.11%.

Insider Buying and Selling at Gladstone Capital

In other news, President Bob Marcotte sold 15,500 shares of the business's stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $27.35, for a total transaction of $423,925.00. Following the completion of the transaction, the president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.96% of the company's stock.

Institutional Investors Weigh In On Gladstone Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in GLAD. Van ECK Associates Corp purchased a new position in shares of Gladstone Capital in the 3rd quarter worth $12,287,000. International Assets Investment Management LLC boosted its position 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 during the last quarter. D.A. Davidson & CO. grew its stake in shares of Gladstone Capital by 1.3% during the 4th quarter. D.A. Davidson & CO. now owns 113,049 shares of the investment management company's stock valued at $3,215,000 after purchasing an additional 1,480 shares during the period. Kovack Advisors Inc. increased its position in shares of Gladstone Capital by 2.0% during the 3rd 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 during the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Gladstone Capital in the 3rd quarter worth approximately $485,000. Hedge funds and other institutional investors own 10.72% of the company's stock.

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.