Shares of Gladstone Capital Co. (NASDAQ:GLAD - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday following a dividend announcement from the company. The company traded as high as $30.30 and last traded at $30.26, with a volume of 167819 shares traded. The stock had previously closed at $29.80.The newly announced dividend which will be paid on Friday, January 31st. Stockholders of record on Monday, January 27th will be paid a $0.165 dividend. The ex-dividend date is Friday, January 24th. This represents a dividend yield of 6.54%. Gladstone Capital's payout ratio is 52.11%.
Separately, B. Riley initiated coverage on Gladstone Capital in a report on Wednesday, October 23rd. They issued a "neutral" rating and a $23.00 price target for the company.
Check Out Our Latest Analysis on Gladstone Capital
The company has a market cap of $675.71 million, a price-to-earnings ratio of 7.96 and a beta of 1.27. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.15. The business has a fifty day moving average of $27.81 and a two-hundred day moving average of $25.13.
In other Gladstone Capital news, President Bob Marcotte sold 15,500 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $27.35, for a total transaction of $423,925.00. Following the completion of the transaction, the president now owns 248,210 shares of the company's stock, valued at $6,788,543.50. This represents a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.96% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in the company. Jane Street Group LLC purchased a new position in Gladstone Capital during the third quarter worth approximately $485,000. International Assets Investment Management LLC lifted its position in Gladstone Capital by 2,305.0% during the third quarter. International Assets Investment Management LLC now owns 384,535 shares of the investment management company's stock worth $9,248,000 after buying an additional 368,546 shares in the last quarter. Van ECK Associates Corp purchased a new position in Gladstone Capital during the third quarter worth approximately $12,287,000. Farther Finance Advisors LLC purchased a new position in Gladstone Capital during the third quarter worth approximately $44,000. Finally, Good Life Advisors LLC lifted its position in Gladstone Capital by 101.2% during the third quarter. Good Life Advisors LLC now owns 17,850 shares of the investment management company's stock worth $429,000 after buying an additional 8,979 shares in the last quarter. Institutional investors and hedge funds own 10.72% of the company's stock.
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.
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