Gladstone Capital (NASDAQ:GLAD) Hits New 12-Month High – Still a Buy?

Gladstone Capital Co. (NASDAQ:GLAD) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $30.37 and last traded at $30.26, with a volume of 26235 shares. The stock had previously closed at $29.99.

Analyst Upgrades and Downgrades

Separately, B. Riley assumed coverage on shares of Gladstone Capital in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $23.00 price objective for the company.

Gladstone Capital Price Performance

The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $28.27 and a two-hundred day simple moving average of $25.37. The company has a market cap of $663.31 million, a price-to-earnings ratio of 7.82 and a beta of 1.27.

Gladstone Capital Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 27th will be paid a dividend of $0.165 per share. This represents a dividend yield of 6.57%. The ex-dividend date of this dividend is Friday, January 24th. Gladstone Capital’s payout ratio is 52.11%.

Insiders Place Their Bets

In other Gladstone Capital news, President Bob Marcotte sold 15,500 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $27.35, for a total transaction of $423,925.00. Following the completion of the sale, the president now owns 248,210 shares in the company, valued at $6,788,543.50. The trade was a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.96% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Van ECK Associates Corp bought a new position in Gladstone Capital in the 3rd quarter valued at about $12,287,000. International Assets Investment Management LLC boosted its position in Gladstone Capital by 2,305.0% during the 3rd quarter. International Assets Investment Management LLC now owns 384,535 shares of the investment management company’s stock worth $9,248,000 after acquiring an additional 368,546 shares during the period. Jane Street Group LLC purchased a new position in Gladstone Capital during the 3rd quarter valued at about $485,000. Atomi Financial Group Inc. acquired a new position in shares of Gladstone Capital in the 4th quarter valued at about $510,000. Finally, Fortress Financial Solutions LLC purchased a new stake in shares of Gladstone Capital in the fourth quarter worth approximately $438,000. 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.