Gladstone Capital Co. (NASDAQ:GLAD) Short Interest Down 7.9% in November

Gladstone Capital Co. (NASDAQ:GLAD) saw a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 728,700 shares, a decrease of 7.9% from the November 15th total of 791,200 shares. Approximately 3.4% of the shares of the company are sold short. Based on an average trading volume of 129,900 shares, the days-to-cover ratio is presently 5.6 days.

Insider Activity at Gladstone Capital

In other news, President Bob Marcotte sold 15,500 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $27.35, for a total value of $423,925.00. Following the transaction, the president now owns 248,210 shares of the company’s stock, valued at $6,788,543.50. This trade represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.08% of the stock is owned by company insiders.

Hedge Funds Weigh In On Gladstone Capital

Hedge funds and other institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp purchased a new position in Gladstone Capital during the third quarter valued at approximately $12,287,000. International Assets Investment Management LLC boosted its holdings in shares of Gladstone Capital by 2,305.0% in 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 buying an additional 368,546 shares in the last quarter. Legacy Capital Wealth Partners LLC bought a new stake in shares of Gladstone Capital in the 2nd quarter valued at about $1,723,000. TrueMark Investments LLC purchased a new position in shares of Gladstone Capital in the 2nd quarter worth approximately $1,451,000. Finally, Jane Street Group LLC purchased a new stake in Gladstone Capital during the third quarter valued at approximately $485,000. Institutional investors own 10.72% of the company’s stock.

Gladstone Capital Price Performance

GLAD stock traded up $0.37 during trading on Tuesday, hitting $27.83. 93,529 shares of the company’s stock traded hands, compared to its average volume of 128,328. The business has a fifty day simple moving average of $25.75 and a 200 day simple moving average of $24.10. Gladstone Capital has a 52 week low of $19.20 and a 52 week high of $28.11. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.04 and a current ratio of 0.04. The stock has a market capitalization of $621.44 million, a price-to-earnings ratio of 7.23 and a beta of 1.28.

Gladstone Capital Increases Dividend

The company also recently declared a dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.40 dividend. This is a positive change from Gladstone Capital’s previous dividend of $0.17. The ex-dividend date of this dividend is Wednesday, December 4th. Gladstone Capital’s payout ratio is presently 52.11%.

Analyst Upgrades and Downgrades

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