Gladstone Capital (NASDAQ:GLAD) Stock Passes Above 200 Day Moving Average – Here’s Why

Gladstone Capital Corporation (NASDAQ:GLAD)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $19.23 and traded as high as $19.50. Gladstone Capital shares last traded at $19.45, with a volume of 215,701 shares trading hands.

Wall Street Analysts Forecast Growth

GLAD has been the subject of a number of research reports. Weiss Ratings restated a “hold (c-)” rating on shares of Gladstone Capital in a report on Thursday, June 18th. Wall Street Zen upgraded shares of Gladstone Capital from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Finally, B. Riley Financial reissued a “buy” rating on shares of Gladstone Capital in a research report on Friday, May 8th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $21.67.

Gladstone Capital Trading Up 2.6%

The firm has a market cap of $439.38 million, a P/E ratio of 10.63 and a beta of 0.92. The company’s 50-day moving average is $19.09 and its two-hundred day moving average is $19.23.

Gladstone Capital (NASDAQ:GLAD) last issued its quarterly earnings data on Wednesday, May 6th. The investment management company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. The firm had revenue of $25.99 million during the quarter, compared to analyst estimates of $25.19 million. Gladstone Capital had a return on equity of 9.79% and a net margin of 45.15%. Research analysts anticipate that Gladstone Capital Corporation will post 2.01 EPS for the current fiscal year.

Gladstone Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Investors 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) annualized dividend and a yield of 9.3%. Gladstone Capital’s dividend payout ratio is 98.36%.

Institutional Investors Weigh In On Gladstone Capital

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its stake in Gladstone Capital by 1.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 28,853 shares of the investment management company’s stock valued at $792,000 after acquiring an additional 456 shares in the last quarter. Focus Partners Wealth bought a new stake in shares of Gladstone Capital in the 1st quarter worth $220,000. Cetera Investment Advisers grew its stake in shares of Gladstone Capital by 43.0% in the 2nd quarter. Cetera Investment Advisers now owns 21,217 shares of the investment management company’s stock worth $572,000 after acquiring an additional 6,385 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in shares of Gladstone Capital in the 2nd quarter worth $46,000. Finally, Quantbot Technologies LP raised its holdings in shares of Gladstone Capital by 52.7% in 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. 10.72% of the stock is owned by hedge funds and other institutional investors.

About Gladstone Capital

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.