Miller Global Investments LLC Boosts Stake in Gladstone Capital Corporation $GLAD

Miller Global Investments LLC raised its stake in Gladstone Capital Corporation (NASDAQ:GLAD) by 200.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,139 shares of the investment management company’s stock after acquiring an additional 32,136 shares during the period. Miller Global Investments LLC’s holdings in Gladstone Capital were worth $926,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Closed End Fund Advisors Inc. acquired a new stake in shares of Gladstone Capital during the 4th quarter worth $551,000. Sunbelt Securities Inc. bought a new position in shares of Gladstone Capital in the first quarter worth $142,000. Finally, Entropy Technologies LP acquired a new position in Gladstone Capital in the first quarter valued at about $179,000. 10.72% of the stock is currently owned by institutional investors.

Gladstone Capital Price Performance

GLAD traded down $0.26 during trading on Friday, hitting $19.15. 151,293 shares of the stock traded hands, compared to its average volume of 188,866. Gladstone Capital Corporation has a twelve month low of $16.54 and a twelve month high of $21.90. The company has a market cap of $432.60 million, a price-to-earnings ratio of 9.30 and a beta of 0.94. The business has a 50 day moving average price of $19.52 and a 200 day moving average price of $19.09.

Gladstone Capital (NASDAQ:GLAD) last issued its earnings results on Tuesday, August 4th. The investment management company reported $0.49 earnings per share 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 the consensus estimate of $24.90 million. Gladstone Capital had a return on equity of 9.67% and a net margin of 50.48%. On average, equities research analysts predict that Gladstone Capital Corporation will post 1.99 earnings per share for the current year.

Gladstone Capital Announces Dividend

The firm also recently disclosed a special dividend, which was paid on Wednesday, September 16th. Investors of record on Thursday, September 10th were given a dividend of $0.18 per share. The ex-dividend date was Thursday, September 10th. Gladstone Capital’s dividend payout ratio is currently 87.38%.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gladstone Capital in a research report on Tuesday. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $21.67.

Gladstone Capital Profile

Gladstone Capital Corporation is a business development company that provides financing to privately held, lower middle-market companies in the United States. The company primarily seeks to support established businesses with debt and equity capital, often working with companies that may have limited access to traditional bank financing.

Its investment activities generally include senior and subordinated secured loans, unsecured debt, and equity investments. Gladstone Capital may provide financing for acquisitions, recapitalizations, refinancing, growth initiatives, and other corporate purposes.