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 two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 changing hands.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GLAD. Weiss Ratings upgraded Gladstone Capital from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 2nd. B. Riley Financial reiterated a “buy” rating on shares of Gladstone Capital in a research report on Friday, May 8th. Finally, Wall Street Zen raised 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 given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $21.67.

Gladstone Capital Trading Down 2.0%

The business’s 50 day moving average price is $19.29 and its two-hundred day moving average price is $19.10. The stock has a market cap of $432.15 million, a P/E ratio of 10.45 and a beta of 0.92.

Gladstone Capital (NASDAQ:GLAD) last released its earnings results on Wednesday, May 6th. The investment management company reported $0.52 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $25.19 million. As a group, analysts expect that Gladstone Capital Corporation will post 2.01 earnings per share for the current year.

Gladstone Capital Announces Dividend

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

Institutional Trading of Gladstone Capital

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Closed End Fund Advisors Inc. purchased a new stake in shares of Gladstone Capital in the fourth quarter worth $551,000. UBS Group AG lifted its stake in shares of Gladstone Capital by 18.0% during the 4th quarter. UBS Group AG now owns 271,702 shares of the investment management company’s stock valued at $5,613,000 after buying an additional 41,484 shares in the last quarter. Sunbelt Securities Inc. purchased a new position in shares of Gladstone Capital during the 1st quarter valued at $142,000. Entropy Technologies LP bought a new position in Gladstone Capital in the 1st quarter worth $179,000. Finally, Larson Financial Group LLC boosted its holdings in 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 buying an additional 1,900 shares during the period. 10.72% of the stock is owned by hedge funds and other 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.