Van ECK Associates Corp cut its holdings in shares of Gladstone Capital Co. (NASDAQ:GLAD) by 11.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 538,207 shares of the investment management company’s stock after selling 68,823 shares during the period. Van ECK Associates Corp owned 1.57% of Gladstone Capital worth $6,152,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of GLAD. Advisors Asset Management Inc. raised its position in shares of Gladstone Capital by 17.9% in the 2nd quarter. Advisors Asset Management Inc. now owns 264,443 shares of the investment management company’s stock worth $3,023,000 after acquiring an additional 40,152 shares in the last quarter. Hudson Portfolio Management LLC purchased a new position in Gladstone Capital in the first quarter worth $369,000. Lakeview Capital Partners LLC acquired a new stake in shares of Gladstone Capital in the 2nd quarter worth $370,000. Morgan Stanley grew its stake in Gladstone Capital by 11.9% during the 1st quarter. Morgan Stanley now owns 182,780 shares of the investment management company’s stock worth $1,813,000 after buying an additional 19,449 shares during the last quarter. Finally, D.A. Davidson & CO. raised its stake in Gladstone Capital by 12.2% in the first quarter. D.A. Davidson & CO. now owns 145,215 shares of the investment management company’s stock valued at $1,441,000 after buying an additional 15,805 shares during the last quarter. 10.47% of the stock is owned by institutional investors.
GLAD stock opened at $11.54 on Friday. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.08. The firm has a market cap of $395.87 million, a P/E ratio of 6.11, a PEG ratio of 4.77 and a beta of 1.46. The company’s 50-day simple moving average is $11.53 and its 200-day simple moving average is $11.07. Gladstone Capital Co. has a 52-week low of $6.97 and a 52-week high of $12.05.
The firm also recently disclosed a monthly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Wednesday, September 22nd will be issued a $0.065 dividend. The ex-dividend date is Tuesday, September 21st. This represents a $0.78 dividend on an annualized basis and a yield of 6.76%. Gladstone Capital’s payout ratio is 96.30%.
Several equities research analysts have recently commented on GLAD shares. Oppenheimer assumed coverage on shares of Gladstone Capital in a research note on Monday, June 28th. They set a “market perform” rating and a $10.00 price objective for the company. Zacks Investment Research cut shares of Gladstone Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, August 10th.
Gladstone Capital Profile
Gladstone Capital is a specialty finance company that invests in debt securities consisting primarily of senior term loans, senior subordinated loans, and junior subordinated loans in small and medium sized companies, that meet certain criteria. The criteria can include some or all of the following: the potential for growth in cash flow, adequate assets for loan collateral, experienced management teams with significant ownership interest in the business, adequate capitalization, profitable operations based on the borrower’s cash flow, reasonable capitalization of the borrower and the potential to realize appreciation and gain liquidity in our equity position, if any.
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