Gladstone Capital (NASDAQ:GLAD) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Gladstone Capital Corporation (NASDAQ:GLAD)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $19.45 and traded as high as $19.54. Gladstone Capital shares last traded at $19.35, with a volume of 125,633 shares.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on GLAD shares. B. Riley Financial restated a “buy” rating on shares of Gladstone Capital in a report on Friday, May 8th. Wall Street Zen upgraded shares of Gladstone Capital from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Finally, Jefferies Financial Group set a $21.00 target price on shares of Gladstone Capital and gave the stock a “hold” rating in a report on Friday, February 6th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Gladstone Capital currently has a consensus rating of “Hold” and a consensus target price of $21.67.

Gladstone Capital Price Performance

The business has a 50 day moving average of $18.32 and a 200 day moving average of $19.45. The company has a market cap of $434.01 million, a PE ratio of 10.50 and a beta of 0.92.

Gladstone Capital (NASDAQ:GLAD) last announced its quarterly earnings results on Wednesday, May 6th. The investment management company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. Gladstone Capital had a return on equity of 9.79% and a net margin of 45.15%.The company had revenue of $25.99 million during the quarter, compared to analyst estimates of $25.19 million. Sell-side analysts forecast that Gladstone Capital Corporation will post 2.01 EPS for the current fiscal year.

Gladstone Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd will be paid a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a c) dividend on an annualized basis and a yield of 9.4%. Gladstone Capital’s dividend payout ratio (DPR) is presently 98.36%.

Hedge Funds Weigh In On Gladstone Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Entropy Technologies LP purchased a new position in Gladstone Capital during the first quarter valued at $179,000. Virtu Financial LLC purchased a new position in Gladstone Capital during the fourth quarter valued at $213,000. Virtus Investment Advisers LLC lifted its position in Gladstone Capital by 60.5% during the fourth quarter. Virtus Investment Advisers LLC now owns 28,401 shares of the investment management company’s stock valued at $587,000 after buying an additional 10,703 shares during the period. Tudor Investment Corp ET AL purchased a new position in Gladstone Capital during the fourth quarter valued at $423,000. Finally, Quadrature Capital Ltd lifted its position in Gladstone Capital by 45.9% during the fourth quarter. Quadrature Capital Ltd now owns 36,791 shares of the investment management company’s stock valued at $760,000 after buying an additional 11,580 shares during the period. Hedge funds and other institutional investors own 10.72% of the company’s stock.

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.