Gladstone Capital (NASDAQ:GLAD) Sets New 12-Month High – Still a Buy?

Gladstone Capital Co. (NASDAQ:GLAD) shares hit a new 52-week high on Thursday . The company traded as high as $27.81 and last traded at $25.72, with a volume of 39398 shares trading hands. The stock had previously closed at $25.68.

Analyst Upgrades and Downgrades

Separately, B. Riley began coverage on Gladstone Capital in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $23.00 price target on the stock.

Gladstone Capital Stock Up 0.9 %

The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 0.15. The stock has a market cap of $563.33 million, a P/E ratio of 8.56 and a beta of 1.25. The company’s 50 day moving average price is $24.06 and its two-hundred day moving average price is $23.27.

Gladstone Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be paid a dividend of $0.165 per share. This represents a $1.98 annualized dividend and a dividend yield of 7.64%. The ex-dividend date is Friday, December 20th. Gladstone Capital’s dividend payout ratio is presently 66.00%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GLAD. Van ECK Associates Corp purchased a new stake in Gladstone Capital in the 3rd quarter worth approximately $12,287,000. International Assets Investment Management LLC raised its position in shares of Gladstone Capital by 2,305.0% during the 3rd quarter. International Assets Investment Management LLC now owns 384,535 shares of the investment management company’s stock valued at $9,248,000 after purchasing an additional 368,546 shares during the period. Legacy Capital Wealth Partners LLC purchased a new position in shares of Gladstone Capital during the 2nd quarter valued at $1,723,000. TrueMark Investments LLC bought a new position in Gladstone Capital in the 2nd quarter worth $1,451,000. Finally, Good Life Advisors LLC increased its stake in Gladstone Capital by 101.2% in the 3rd quarter. Good Life Advisors LLC now owns 17,850 shares of the investment management company’s stock worth $429,000 after buying an additional 8,979 shares in the last quarter. Institutional investors own 10.72% of the company’s stock.

About Gladstone Capital

Gladstone Capital Corporation is a business development company specializing in lower middle market, growth capital, add on acquisitions, change of control, buy & build strategies, debt refinancing, debt investments in senior term loans, revolving loans, secured first and second lien term loans, senior subordinated loans, unitranche loans, junior subordinated loans, and mezzanine loans and equity investments in the form of common stock, preferred stock, limited liability company interests, or warrants.