Gladstone Capital Corp. (GLAD) to Issue $0.07 Monthly Dividend
Gladstone Capital Corp. (NASDAQ:GLAD) declared a monthly dividend on Wednesday, October 12th. Investors of record on Thursday, November 17th will be paid a dividend of 0.07 per share by the investment management company on Wednesday, November 30th. This represents a $0.84 dividend on an annualized basis and a yield of 10.21%. The ex-dividend date is Tuesday, November 15th.
Shares of Gladstone Capital Corp. (NASDAQ:GLAD) traded up 1.11% on Wednesday, reaching $8.23. 59,981 shares of the company were exchanged. The firm has a 50 day moving average price of $8.29 and a 200-day moving average price of $7.73. Gladstone Capital Corp. has a 12-month low of $4.71 and a 12-month high of $9.09.
Gladstone Capital Corp. (NASDAQ:GLAD) last released its quarterly earnings results on Wednesday, August 3rd. The investment management company reported $0.21 earnings per share for the quarter, hitting 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%. Equities analysts forecast that Gladstone Capital Corp. will post $0.84 EPS for the current fiscal year.
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Several research firms recently weighed in on GLAD. Zacks Investment Research upgraded shares of Gladstone Capital Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, August 23rd. National Securities reiterated a “neutral” rating and issued a $7.00 target price on shares of Gladstone Capital Corp. in a research note on Friday, August 5th. Five analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and a consensus price target of $7.31.
In other Gladstone Capital Corp. news, President Robert L. Marcotte purchased 6,000 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The shares were bought at an average cost of $8.52 per share, for a total transaction of $51,120.00. Following the purchase, the president now owns 290,758 shares of the company’s stock, valued at approximately $2,477,258.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Robert L. Marcotte purchased 8,000 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The shares were acquired at an average price of $8.35 per share, for a total transaction of $66,800.00. Following the completion of the purchase, the president now directly owns 286,758 shares in the company, valued at approximately $2,394,429.30. The disclosure for this purchase can be found here. 6.49% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in GLAD. Van ECK Associates Corp boosted its stake in shares of 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 worth $783,000 after buying an additional 12,335 shares during the last quarter. Nuveen Fund Advisors LLC acquired a new stake in shares of Gladstone Capital Corp. during the second quarter worth approximately $385,000. Janney Montgomery Scott LLC boosted its stake in shares of 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 last quarter. Finally, BlackRock Group LTD boosted its stake in shares of 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 worth $846,000 after buying an additional 14,874 shares during the last quarter. Institutional investors own 9.34% of the company’s stock.
About Gladstone Capital Corp.
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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