Gladstone Capital (NASDAQ:GLAD) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Gladstone Capital Corporation (NASDAQ:GLAD) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $19.36 and traded as high as $19.40. Gladstone Capital shares last traded at $18.94, with a volume of 255,230 shares trading hands.

Wall Street Analyst Weigh In

GLAD has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Gladstone Capital from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. B. Riley Financial reiterated a “buy” rating on shares of Gladstone Capital in a research report on Friday, May 8th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Gladstone Capital presently has an average rating of “Hold” and an average target price of $21.67.

Gladstone Capital Stock Down 1.8%

The stock has a market capitalization of $427.85 million, a price-to-earnings ratio of 10.35 and a beta of 0.92. The business has a 50-day simple moving average of $19.01 and a two-hundred day simple moving average of $19.36.

Gladstone Capital (NASDAQ:GLAD) last issued its quarterly 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 company had revenue of $25.99 million for the quarter, compared to analysts’ expectations of $25.19 million. On average, analysts forecast that Gladstone Capital Corporation will post 2.01 EPS for the current year.

Gladstone Capital Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Investors 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 9.5%. Gladstone Capital’s dividend payout ratio (DPR) is currently 98.36%.

Institutional Investors Weigh In On Gladstone Capital

Several hedge funds and other institutional investors have recently bought and sold shares of GLAD. Garner Asset Management Corp acquired a new stake in Gladstone Capital in the 4th quarter valued at about $36,000. WFA of San Diego LLC bought a new position in shares of Gladstone Capital during the 2nd quarter valued at about $42,000. JPMorgan Chase & Co. acquired a new position in shares of Gladstone Capital in the 2nd quarter worth approximately $46,000. Larson Financial Group LLC grew its stake in shares of Gladstone Capital by 380.0% in the 3rd quarter. Larson Financial Group LLC now owns 2,400 shares of the investment management company’s stock worth $52,000 after purchasing an additional 1,900 shares during the last quarter. Finally, Advisory Services Network LLC bought a new stake in shares of Gladstone Capital in the 3rd quarter worth approximately $74,000. 10.72% of the stock is currently owned by 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.