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

Gladstone Capital Corporation (NASDAQ:GLAD) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-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 traded.

Analyst Ratings Changes

A number of research firms have recently commented on GLAD. Wall Street Zen raised Gladstone Capital from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Jefferies Financial Group set a $21.00 price objective on Gladstone Capital and gave the stock a “hold” rating in a research note on Friday, February 6th. Finally, B. Riley Financial reissued a “buy” rating on shares of Gladstone Capital in a research note on Friday, May 8th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $21.67.

Gladstone Capital Price Performance

The firm has a market cap of $433.50 million, a PE ratio of 10.49 and a beta of 0.92. The business has a fifty day moving average price of $18.73 and a two-hundred day moving average price of $19.43.

Gladstone Capital (NASDAQ:GLAD) last issued its quarterly earnings results on Wednesday, May 6th. The investment management company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. Gladstone Capital had a return on equity of 9.79% and a net margin of 45.15%.The business had revenue of $25.99 million for the quarter, compared to the consensus estimate of $25.19 million. As a group, sell-side analysts forecast that Gladstone Capital Corporation will post 2.01 EPS for the current fiscal year.

Gladstone Capital Announces Dividend

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

Institutional Trading of Gladstone Capital

A number of institutional investors have recently bought and sold shares of GLAD. Goldman Sachs Group Inc. boosted its position in Gladstone Capital by 1.6% during the first quarter. Goldman Sachs Group Inc. now owns 28,853 shares of the investment management company’s stock valued at $792,000 after purchasing an additional 456 shares during the last quarter. Focus Partners Wealth acquired a new stake in Gladstone Capital during the first quarter valued at $220,000. Cetera Investment Advisers boosted its position in Gladstone Capital by 43.0% during the second quarter. Cetera Investment Advisers now owns 21,217 shares of the investment management company’s stock valued at $572,000 after purchasing an additional 6,385 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in Gladstone Capital during the second quarter valued at $46,000. Finally, Quantbot Technologies LP boosted its position in Gladstone Capital by 52.7% during the second quarter. Quantbot Technologies LP now owns 4,272 shares of the investment management company’s stock valued at $115,000 after purchasing an additional 1,474 shares during the last quarter. Institutional investors and hedge funds 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.