DNB Asset Management AS Cuts Stake in Gladstone Capital Co. (NASDAQ:GLAD)

DNB Asset Management AS lessened its stake in Gladstone Capital Co. (NASDAQ:GLAD) by 46.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 110,240 shares of the investment management company’s stock after selling 95,503 shares during the period. DNB Asset Management AS owned about 0.51% of Gladstone Capital worth $2,565,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of GLAD. International Assets Investment Management LLC lifted its position in Gladstone Capital by 1,319.3% in the fourth quarter. International Assets Investment Management LLC now owns 343,267 shares of the investment management company’s stock valued at $3,673,000 after purchasing an additional 319,081 shares during the last quarter. Legacy Capital Wealth Partners LLC boosted its position in Gladstone Capital by 17.4% during the 4th quarter. Legacy Capital Wealth Partners LLC now owns 149,320 shares of the investment management company’s stock valued at $1,598,000 after buying an additional 22,156 shares during the period. Trexquant Investment LP grew its holdings in Gladstone Capital by 30.1% in the 4th quarter. Trexquant Investment LP now owns 85,407 shares of the investment management company’s stock worth $914,000 after acquiring an additional 19,781 shares during the last quarter. Kovack Advisors Inc. increased its position in shares of Gladstone Capital by 1.2% in the first quarter. Kovack Advisors Inc. now owns 69,602 shares of the investment management company’s stock valued at $747,000 after acquiring an additional 856 shares during the period. Finally, Koshinski Asset Management Inc. raised its stake in shares of Gladstone Capital by 70.5% during the fourth quarter. Koshinski Asset Management Inc. now owns 58,260 shares of the investment management company’s stock valued at $623,000 after acquiring an additional 24,092 shares during the last quarter. 10.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Gladstone Capital from a “sell” rating to a “hold” rating in a report on Thursday, May 9th.

Gladstone Capital Trading Up 3.9 %

Shares of GLAD traded up $0.85 during mid-day trading on Tuesday, hitting $22.68. 146,668 shares of the company’s stock traded hands, compared to its average volume of 129,874. The business’s 50-day moving average price is $23.27 and its 200-day moving average price is $21.80. Gladstone Capital Co. has a 1 year low of $18.40 and a 1 year high of $24.73. The firm has a market capitalization of $493.38 million, a P/E ratio of 7.91 and a beta of 1.26. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.27.

Gladstone Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 20th will be issued a $0.165 dividend. The ex-dividend date of this dividend is Friday, September 20th. This represents a $1.98 annualized dividend and a yield of 8.73%. Gladstone Capital’s dividend payout ratio (DPR) is presently 71.74%.

Gladstone Capital 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.