Gladstone Capital (NASDAQ:GLAD) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

Gladstone Capital Corporation (NASDAQ:GLAD) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $19.10 and traded as high as $19.53. Gladstone Capital shares last traded at $19.13, with a volume of 144,275 shares.

Analysts Set New Price Targets

GLAD has been the topic of several research analyst reports. Weiss Ratings raised shares of Gladstone Capital from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 2nd. B. Riley Financial reiterated a “buy” rating on shares of Gladstone Capital in a report on Friday, May 8th. Finally, Wall Street Zen upgraded shares of Gladstone Capital from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Two investment 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 stock has a consensus rating of “Hold” and a consensus price target of $21.67.

Gladstone Capital Stock Performance

The company has a market cap of $432.15 million, a PE ratio of 10.45 and a beta of 0.92. The company has a fifty day moving average of $19.29 and a two-hundred day moving average of $19.10.

Gladstone Capital (NASDAQ:GLAD) last announced its earnings results on Wednesday, May 6th. The investment management company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $25.19 million. On average, equities analysts forecast that Gladstone Capital Corporation will post 2.01 EPS for the current year.

Gladstone Capital Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, September 21st. This represents a c) dividend on an annualized basis and a dividend yield of 9.4%. Gladstone Capital’s dividend payout ratio is presently 98.36%.

Hedge Funds Weigh In On Gladstone Capital

Hedge funds and other institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. grew its stake in shares of 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 worth $792,000 after acquiring an additional 456 shares during the last quarter. Focus Partners Wealth purchased a new position in shares of Gladstone Capital in the 1st quarter valued at approximately $220,000. Cetera Investment Advisers boosted its stake in 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 purchasing an additional 6,385 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in Gladstone Capital in the 2nd quarter worth approximately $46,000. Finally, Quantbot Technologies LP grew its position in Gladstone Capital by 52.7% during the 2nd quarter. Quantbot Technologies LP now owns 4,272 shares of the investment management company’s stock worth $115,000 after purchasing an additional 1,474 shares during the last quarter. 10.72% of the stock is currently owned by institutional investors.

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.