Van ECK Associates Corp Takes $12.29 Million Position in Gladstone Capital Co. (NASDAQ:GLAD)

Van ECK Associates Corp acquired a new stake in Gladstone Capital Co. (NASDAQ:GLAD - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 506,067 shares of the investment management company's stock, valued at approximately $12,287,000. Van ECK Associates Corp owned approximately 2.33% of Gladstone Capital as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. acquired a new stake in shares of Gladstone Capital during the 2nd quarter worth about $32,000. nVerses Capital LLC acquired a new stake in shares of Gladstone Capital during the 2nd quarter worth about $37,000. Farther Finance Advisors LLC acquired a new stake in shares of Gladstone Capital during the 3rd quarter worth about $44,000. Atomi Financial Group Inc. increased its position in shares of Gladstone Capital by 10.4% during the 1st quarter. Atomi Financial Group Inc. now owns 27,748 shares of the investment management company's stock worth $298,000 after purchasing an additional 2,612 shares during the last quarter. Finally, National Bank of Canada FI acquired a new position in Gladstone Capital in the 2nd quarter valued at about $98,000. Hedge funds and other institutional investors own 10.72% of the company's stock.

Wall Street Analyst Weigh In

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

Gladstone Capital Stock Performance

NASDAQ GLAD traded up $0.46 on Wednesday, reaching $24.52. The stock had a trading volume of 129,881 shares, compared to its average volume of 127,476. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.02 and a current ratio of 0.02. Gladstone Capital Co. has a 12-month low of $19.20 and a 12-month high of $25.29. The business's 50-day moving average price is $23.75 and its 200 day moving average price is $23.12. The stock has a market cap of $533.31 million, a P/E ratio of 8.10 and a beta of 1.25.

Gladstone Capital (NASDAQ:GLAD - Get Free Report) last released its earnings results on Wednesday, August 7th. The investment management company reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.53 by $0.04. The business had revenue of $25.69 million for the quarter, compared to analyst estimates of $24.69 million. Gladstone Capital had a return on equity of 10.87% and a net margin of 78.40%. As a group, equities analysts expect that Gladstone Capital Co. will post 2.13 earnings per share for the current year.

Gladstone Capital Announces Dividend

The business 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. This represents a $1.98 dividend on an annualized basis and a dividend yield of 8.08%. The ex-dividend date of this dividend is Friday, December 20th. Gladstone Capital's payout ratio is currently 66.00%.

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.