Closed End Fund Advisors Inc. bought a new stake in Gladstone Capital Corporation (NASDAQ:GLAD – Free Report) during the 4th quarter, HoldingsChannel reports. The fund bought 26,694 shares of the investment management company’s stock, valued at approximately $551,000.
Several other hedge funds have also recently bought and sold shares of GLAD. Atlantic Union Bankshares Corp bought a new position in Gladstone Capital in the 3rd quarter valued at about $31,000. Garner Asset Management Corp acquired a new stake in shares of Gladstone Capital in the 4th quarter valued at approximately $36,000. WFA of San Diego LLC acquired a new stake in shares of Gladstone Capital in the 2nd quarter valued at approximately $42,000. JPMorgan Chase & Co. acquired a new stake in shares of Gladstone Capital in the 2nd quarter valued at approximately $46,000. Finally, Larson Financial Group LLC boosted 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 valued at $52,000 after purchasing an additional 1,900 shares in the last quarter. 10.72% of the stock is owned by institutional investors.
Gladstone Capital Trading Down 1.8%
GLAD opened at $19.19 on Friday. The company’s 50 day moving average is $18.73 and its 200-day moving average is $19.43. Gladstone Capital Corporation has a 1-year low of $16.54 and a 1-year high of $29.50. The company has a market cap of $433.50 million, a P/E ratio of 10.49 and a beta of 0.92.
Gladstone Capital Dividend Announcement
The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd will be given 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 9.4%. Gladstone Capital’s dividend payout ratio (DPR) is currently 98.36%.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group set a $21.00 price target on shares of Gladstone Capital and gave the company a “hold” rating in a research note on Friday, February 6th. Wall Street Zen upgraded shares of Gladstone Capital from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Finally, B. Riley Financial restated 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 issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $21.67.
View Our Latest Stock Analysis on GLAD
Gladstone Capital 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.
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