Gladstone Capital (NASDAQ:GLAD) Share Price Breaks Above Two Hundred Day Moving Average – Here’s What Happened

Gladstone Capital Corporation (NASDAQ:GLAD) passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $19.12 and traded as high as $19.16. Gladstone Capital shares last traded at $19.13, with a volume of 111,038 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Weiss Ratings cut Gladstone Capital from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, October 14th. ATB Cormark Capital Markets raised Gladstone Capital to a “moderate buy” rating in a report on Thursday, October 8th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.67.

Gladstone Capital Trading Down 0.8%

The firm has a market capitalization of $428.59 million, a PE ratio of 9.21 and a beta of 0.94. The stock’s 50 day moving average price is $19.27 and its two-hundred day moving average price is $19.11.

Gladstone Capital (NASDAQ:GLAD) last posted its earnings results on Tuesday, August 4th. The investment management company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The firm had revenue of $24.50 million for the quarter, compared to analyst estimates of $24.90 million. Gladstone Capital had a return on equity of 9.67% and a net margin of 50.48%. Analysts expect that Gladstone Capital Corporation will post 1.99 earnings per share for the current year.

Gladstone Capital Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Monday, December 21st will be issued a $0.15 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 9.5%. The ex-dividend date is Monday, December 21st. Gladstone Capital’s dividend payout ratio is 87.38%.

Institutional Investors Weigh In On Gladstone Capital

Several hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC grew its stake in Gladstone Capital by 1,463.6% in the 3rd quarter. International Assets Investment Management LLC now owns 250,000 shares of the investment management company’s stock worth $4,808,000 after acquiring an additional 234,011 shares during the period. Fortress Financial Solutions LLC purchased a new position in shares of Gladstone Capital during the 3rd quarter worth $263,000. B. Riley Wealth Advisors Inc. lifted its stake in shares of Gladstone Capital by 66.0% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 225,027 shares of the investment management company’s stock worth $4,327,000 after purchasing an additional 89,446 shares during the period. Miller Global Investments LLC lifted its stake in shares of Gladstone Capital by 200.8% during the 3rd quarter. Miller Global Investments LLC now owns 48,139 shares of the investment management company’s stock worth $926,000 after purchasing an additional 32,136 shares during the period. Finally, Sunbelt Securities Inc. acquired a new stake in shares of Gladstone Capital during the first quarter worth $142,000. 10.72% of the stock is owned by institutional investors and hedge funds.

About Gladstone Capital

Gladstone Capital Corporation is a business development company that provides financing to small and mid-sized businesses in the United States. The company seeks to support established companies by investing in a combination of debt and equity securities.

Its investments may include first- and second-lien secured loans, unsecured and subordinated debt, mezzanine financing, and equity interests. Gladstone Capital generally partners with businesses across a range of industries, providing capital intended to support acquisitions, recapitalizations, growth initiatives, and other corporate financing needs.

Founded in 2001, Gladstone Capital is externally managed by Gladstone Management Corporation, an investment adviser affiliated with the broader Gladstone group of companies.