Gladstone Capital (NASDAQ:GLAD) Stock Passes Above 200 Day Moving Average – Here’s Why

Shares of Gladstone Capital Corporation (NASDAQ:GLAD) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $19.43 and traded as high as $19.56. Gladstone Capital shares last traded at $19.19, with a volume of 125,908 shares.

Analysts Set New Price Targets

GLAD has been the subject of several research analyst reports. Wall Street Zen raised Gladstone Capital from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. B. Riley Financial reaffirmed a “buy” rating on shares of Gladstone Capital in a research note on Friday, May 8th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $21.67.

Gladstone Capital Stock Down 1.8%

The stock has a market cap of $433.50 million, a PE ratio of 10.49 and a beta of 0.92. The company has a fifty day moving average price of $18.73 and a 200 day moving average price of $19.43.

Gladstone Capital (NASDAQ:GLAD) last released its quarterly earnings data on Wednesday, May 6th. The investment management company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.49 by $0.03. The firm had revenue of $25.99 million for the quarter, compared to the consensus estimate of $25.19 million. Gladstone Capital had a return on equity of 9.79% and a net margin of 45.15%. As a group, research analysts predict that Gladstone Capital Corporation will post 2.01 earnings per share for the current year.

Gladstone Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd will be issued a $0.15 dividend. The ex-dividend date is Tuesday, June 23rd. This represents a c) annualized dividend and a dividend yield of 9.4%. Gladstone Capital’s payout ratio is currently 98.36%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Atlantic Union Bankshares Corp purchased a new position in shares of Gladstone Capital in the third quarter worth about $31,000. Garner Asset Management Corp purchased a new position in shares of Gladstone Capital in the fourth quarter worth about $36,000. WFA of San Diego LLC purchased a new position in Gladstone Capital during the 2nd quarter valued at about $42,000. JPMorgan Chase & Co. purchased a new position in Gladstone Capital during the 2nd quarter valued at about $46,000. Finally, Larson Financial Group LLC increased its holdings in Gladstone Capital by 380.0% during the 3rd quarter. Larson Financial Group LLC now owns 2,400 shares of the investment management company’s stock valued at $52,000 after purchasing an additional 1,900 shares during the period. Hedge funds and other institutional investors own 10.72% of the company’s stock.

Gladstone Capital Company Profile

Gladstone Capital Corporation is a publicly traded business development company (BDC) that provides debt and equity financing solutions to U.S. lower middle-market companies. Operating under an external management agreement with Gladstone Management L.P., the firm offers senior secured loans, mezzanine debt and equity investments designed to support growth initiatives, acquisitions and recapitalizations. Through its focus on privately held businesses, Gladstone Capital seeks to construct a diversified portfolio across various industry sectors.

Since its formation in 2003, Gladstone Capital has developed a track record of working closely with management teams and business owners to meet their capital needs.