Acrospire Investment Management LLC Acquires 6,160 Shares of Gladstone Capital Corp. (GLAD)
Acrospire Investment Management LLC raised its stake in shares of Gladstone Capital Corp. (NASDAQ:GLAD) by 79.6% during the second quarter, Holdings Channel reports. The institutional investor owned 13,899 shares of the investment management company’s stock after buying an additional 6,160 shares during the period. Acrospire Investment Management LLC’s holdings in Gladstone Capital Corp. were worth $101,000 as of its most recent filing with the SEC.
Several other institutional investors have also added to or reduced their stakes in the stock. TCI Wealth Advisors Inc. raised its position in Gladstone Capital Corp. by 1.9% in the second quarter. TCI Wealth Advisors Inc. now owns 15,534 shares of the investment management company’s stock valued at $112,000 after buying an additional 289 shares in the last quarter. Sigma Planning Corp acquired a new position in Gladstone Capital Corp. during the second quarter valued at approximately $212,000. Prospera Financial Services Inc raised its position in Gladstone Capital Corp. by 8.1% in the second quarter. Prospera Financial Services Inc now owns 33,500 shares of the investment management company’s stock valued at $243,000 after buying an additional 2,500 shares in the last quarter. Legal & General Group Plc raised its position in Gladstone Capital Corp. by 29.0% in the first quarter. Legal & General Group Plc now owns 46,532 shares of the investment management company’s stock valued at $347,000 after buying an additional 10,452 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in Gladstone Capital Corp. by 143.8% in the second quarter. Janney Montgomery Scott LLC now owns 53,190 shares of the investment management company’s stock valued at $387,000 after buying an additional 31,374 shares in the last quarter. 9.34% of the stock is currently owned by institutional investors.
Shares of Gladstone Capital Corp. (NASDAQ:GLAD) traded down 2.68% during midday trading on Thursday, reaching $8.00. 131,807 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $8.40 and its 200-day moving average is $7.65. Gladstone Capital Corp. has a 12-month low of $4.71 and a 12-month high of $9.13.
Gladstone Capital Corp. (NASDAQ:GLAD) last released its earnings results on Wednesday, August 3rd. The investment management company reported $0.21 EPS for the quarter, hitting the consensus estimate of $0.21. Gladstone Capital Corp. had a negative net margin of 35.47% and a positive return on equity of 10.58%. Equities analysts anticipate that Gladstone Capital Corp. will post $0.84 earnings per share for the current year.
The business also recently announced a monthly dividend, which was paid on Wednesday, August 31st. Stockholders of record on Monday, August 22nd were issued a $0.07 dividend. This represents a $0.84 annualized dividend and a dividend yield of 10.22%. The ex-dividend date of this dividend was Thursday, August 18th. Gladstone Capital Corp.’s dividend payout ratio (DPR) is presently -147.37%.
GLAD has been the topic of several recent research reports. Zacks Investment Research raised shares of Gladstone Capital Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, September 14th. National Securities reaffirmed a “neutral” rating and set a $7.00 target price on shares of Gladstone Capital Corp. in a report on Friday, August 5th. Five investment analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and a consensus price target of $7.31.
In related news, President Robert L. Marcotte bought 8,000 shares of the stock in a transaction dated Thursday, August 11th. The shares were purchased at an average price of $8.35 per share, with a total value of $66,800.00. Following the completion of the acquisition, the president now owns 286,758 shares of the company’s stock, valued at $2,394,429.30. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Robert L. Marcotte bought 6,000 shares of the stock in a transaction dated Monday, August 22nd. The stock was bought at an average cost of $8.52 per share, for a total transaction of $51,120.00. Following the acquisition, the president now directly owns 290,758 shares of the company’s stock, valued at approximately $2,477,258.16. The disclosure for this purchase can be found here. 6.49% of the stock is currently owned by insiders.
Gladstone Capital Corp. Company Profile
Gladstone Capital Corporation is an externally managed, closed-end and non-diversified management investment company. The Company’s investment objectives are to achieve and grow current income by investing in debt securities of established businesses that will provide earnings and cash flow to pay expenses, which make principal and interest payments on its indebtedness and make distributions to stockholders that grow over time, and to provide its stockholders with long-term capital appreciation in the value of its assets by investing in equity securities of established businesses that it can grow over time to permit customers to sell its equity investments for capital gains.
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