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

Shares of Gladstone Capital Corporation (NASDAQ:GLAD) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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 trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on GLAD shares. Wall Street Zen upgraded 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 target price on Gladstone Capital and gave the company a “hold” rating in a research note on Friday, February 6th. Finally, B. Riley Financial reiterated a “buy” rating on shares of Gladstone Capital in a research note on Friday, May 8th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $21.67.

Gladstone Capital Stock Performance

The firm has a market cap of $433.50 million, a P/E ratio of 10.49 and a beta of 0.92. The firm has a fifty day moving average of $18.73 and a 200-day moving average of $19.43.

Gladstone Capital (NASDAQ:GLAD) last announced its quarterly earnings results on Wednesday, May 6th. The investment management company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.03. The business had revenue of $25.99 million for the quarter, compared to the consensus estimate of $25.19 million. Gladstone Capital had a return on equity of 9.79% and a net margin of 45.15%. Equities research analysts expect that Gladstone Capital Corporation will post 2.01 earnings per share for the current year.

Gladstone Capital Announces Dividend

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

Institutional Trading of Gladstone Capital

Several hedge funds have recently added to or reduced their stakes in GLAD. Atlantic Union Bankshares Corp bought a new stake in Gladstone Capital during the 3rd quarter valued at $31,000. Garner Asset Management Corp bought a new stake in Gladstone Capital during the 4th quarter valued at $36,000. WFA of San Diego LLC bought a new stake in Gladstone Capital during the 2nd quarter valued at $42,000. JPMorgan Chase & Co. bought a new stake in Gladstone Capital during the 2nd quarter valued at $46,000. Finally, Larson Financial Group LLC raised its stake in Gladstone Capital by 380.0% during the 3rd quarter. Larson Financial Group LLC now owns 2,400 shares of the investment management company’s stock valued at $52,000 after acquiring an additional 1,900 shares in the last quarter. Institutional investors 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.