Gladstone Capital Corp. (GLAD) Plans $0.07 Monthly Dividend
Gladstone Capital Corp. (NASDAQ:GLAD) announced a monthly dividend on Wednesday, October 12th. Shareholders of record on Tuesday, December 20th will be paid a dividend of 0.07 per share by the investment management company on Friday, December 30th. This represents a $0.84 annualized dividend and a yield of 10.21%. The ex-dividend date of this dividend is Friday, December 16th.
Shares of Gladstone Capital Corp. (NASDAQ:GLAD) traded up 1.11% during midday trading on Wednesday, reaching $8.23. 59,981 shares of the company’s stock traded hands. Gladstone Capital Corp. has a one year low of $4.71 and a one year high of $9.09. The company has a 50-day moving average of $8.29 and a 200-day moving average of $7.73.
Gladstone Capital Corp. (NASDAQ:GLAD) last released its quarterly earnings data on Wednesday, August 3rd. The investment management company reported $0.21 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.21. Gladstone Capital Corp. had a negative net margin of 35.47% and a positive return on equity of 10.58%. On average, analysts expect that Gladstone Capital Corp. will post $0.84 EPS for the current year.
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Several equities research analysts recently weighed in on GLAD shares. Zacks Investment Research upgraded shares of Gladstone Capital Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, October 5th. National Securities restated a “neutral” rating and issued a $7.00 price target on shares of Gladstone Capital Corp. in a research report on Friday, August 5th. Five investment analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and an average price target of $7.31.
In other Gladstone Capital Corp. news, President Robert L. Marcotte acquired 6,000 shares of the stock in a transaction that occurred on Monday, August 22nd. The stock was bought at an average cost of $8.52 per share, with a total value of $51,120.00. Following the completion of the purchase, the president now directly owns 290,758 shares in the company, valued at $2,477,258.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Robert L. Marcotte acquired 8,000 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was acquired at an average cost of $8.35 per share, with a total value of $66,800.00. Following the completion of the purchase, the president now owns 286,758 shares of the company’s stock, valued at $2,394,429.30. The disclosure for this purchase can be found here. Company insiders own 6.49% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in GLAD. Janney Montgomery Scott LLC raised its stake in Gladstone Capital Corp. by 126.7% in the second quarter. Janney Montgomery Scott LLC now owns 49,466 shares of the investment management company’s stock worth $358,000 after buying an additional 27,650 shares during the period. Nuveen Fund Advisors LLC purchased a new stake in Gladstone Capital Corp. during the second quarter valued at approximately $385,000. Van ECK Associates Corp raised its stake in Gladstone Capital Corp. by 12.9% in the second quarter. Van ECK Associates Corp now owns 108,111 shares of the investment management company’s stock valued at $783,000 after buying an additional 12,335 shares during the last quarter. Finally, BlackRock Group LTD raised its stake in Gladstone Capital Corp. by 14.6% in the second quarter. BlackRock Group LTD now owns 116,902 shares of the investment management company’s stock valued at $846,000 after buying an additional 14,874 shares during the last quarter. 9.34% of the stock is owned by institutional investors.
Gladstone Capital Corp. Company Profile
Gladstone Capital Corporation is an externally managed, closed-end and non-diversified management investment company. The Company’s investment objectives are to achieve and grow current income by investing in debt securities of established businesses that will provide earnings and cash flow to pay expenses, which make principal and interest payments on its indebtedness and make distributions to stockholders that grow over time, and to provide its stockholders with long-term capital appreciation in the value of its assets by investing in equity securities of established businesses that it can grow over time to permit customers to sell its equity investments for capital gains.
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