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

Gladstone Capital Co. (NASDAQ:GLAD)’s stock price hit a new 52-week high on Thursday . The company traded as high as $27.81 and last traded at $25.72, with a volume of 39398 shares traded. The stock had previously closed at $25.68.

Analyst Upgrades and Downgrades

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

Gladstone Capital Trading Up 1.5 %

The firm has a 50-day simple moving average of $24.18 and a 200-day simple moving average of $23.32. The company has a quick ratio of 0.02, a current ratio of 0.02 and a debt-to-equity ratio of 0.15. The stock has a market cap of $564.20 million, a PE ratio of 6.83 and a beta of 1.25.

Gladstone Capital Increases Dividend

The company also recently announced a dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This is a boost from Gladstone Capital’s previous dividend of $0.17. Gladstone Capital’s dividend payout ratio is currently 52.11%.

Institutional Investors Weigh In On Gladstone Capital

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp purchased a new position in Gladstone Capital during the third quarter worth about $12,287,000. International Assets Investment Management LLC grew its holdings in shares of 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 worth $9,248,000 after purchasing an additional 368,546 shares in the last quarter. D.A. Davidson & CO. increased its position in shares of Gladstone Capital by 8.7% in the third quarter. D.A. Davidson & CO. now owns 111,569 shares of the investment management company’s stock worth $2,683,000 after purchasing an additional 8,891 shares during the last quarter. Legacy Capital Wealth Partners LLC purchased a new stake in Gladstone Capital in the second quarter valued at approximately $1,723,000. Finally, TrueMark Investments LLC bought a new stake in Gladstone Capital during the second quarter valued at approximately $1,451,000. 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.