Gladstone Capital Corp. Announces Monthly Dividend of $0.07 (GLAD)
Gladstone Capital Corp. (NASDAQ:GLAD) announced a monthly dividend on Wednesday, October 12th. Shareholders of record on Thursday, November 17th will be given a dividend of 0.07 per share by the investment management company on Wednesday, November 30th. This represents a $0.84 annualized dividend and a yield of 10.21%. The ex-dividend date of this dividend is Tuesday, November 15th.
Shares of Gladstone Capital Corp. (NASDAQ:GLAD) opened at 8.23 on Thursday. Gladstone Capital Corp. has a 52-week low of $4.71 and a 52-week high of $9.09. The firm’s 50-day moving average price is $8.28 and its 200 day moving average price is $7.74.
Gladstone Capital Corp. (NASDAQ:GLAD) last announced its quarterly earnings results on Wednesday, August 3rd. The investment management company reported $0.21 EPS for the quarter, meeting the Zacks’ 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%. Analysts predict that Gladstone Capital Corp. will post $0.84 EPS for the current year.
GLAD has been the subject of a number of analyst 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 issued a $7.00 price target 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 company presently has an average rating of “Hold” and an average target price of $7.31.
In related news, COO Terry Lee Brubaker sold 20,876 shares of the stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $8.39, for a total value of $175,149.64. Following the sale, the chief operating officer now directly owns 109,610 shares of the company’s stock, valued at approximately $919,627.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Robert L. Marcotte acquired 6,000 shares of Gladstone Capital Corp. stock in a transaction that occurred on Monday, August 22nd. The stock was purchased at an average cost of $8.52 per share, for a total transaction of $51,120.00. Following the completion of the transaction, the president now directly owns 290,758 shares in the company, valued at $2,477,258.16. The disclosure for this purchase can be found here. 6.49% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the company. BlackRock Group LTD raised its stake in Gladstone Capital Corp. by 14.6% in the second quarter. BlackRock Group LTD now owns 116,902 shares of the investment management company’s stock worth $846,000 after buying an additional 14,874 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Gladstone Capital Corp. by 126.7% in the second quarter. Janney Montgomery Scott LLC now owns 49,466 shares of the investment management company’s stock worth $358,000 after buying an additional 27,650 shares during the period. Nuveen Fund Advisors LLC bought a new position in shares of Gladstone Capital Corp. during the second quarter worth approximately $385,000. Finally, Van ECK Associates Corp raised its position in shares of Gladstone Capital Corp. by 12.9% in the second quarter. Van ECK Associates Corp now owns 108,111 shares of the investment management company’s stock worth $783,000 after buying an additional 12,335 shares during the period. 9.34% of the stock is currently owned by institutional investors.
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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