Gladstone Capital (NASDAQ:GLAD) Hits New 1-Year High – Time to Buy?

Gladstone Capital Co. (NASDAQ:GLAD) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $27.87 and last traded at $27.87, with a volume of 30736 shares changing hands. The stock had previously closed at $27.29.

Wall Street Analysts Forecast Growth

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

Gladstone Capital Price Performance

The firm has a market cap of $617.87 million, a P/E ratio of 7.28 and a beta of 1.25. The firm’s fifty day simple moving average is $24.80 and its 200 day simple moving average is $23.61. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.04 and a current ratio of 0.04.

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 paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This is a positive change from Gladstone Capital’s previous dividend of $0.17. Gladstone Capital’s dividend payout ratio is presently 52.11%.

Institutional Trading of Gladstone Capital

A number of large investors have recently added to or reduced their stakes in GLAD. Newbridge Financial Services Group Inc. purchased a new position in shares of Gladstone Capital in the second quarter valued at $32,000. nVerses Capital LLC bought a new position in Gladstone Capital during the second quarter valued at $37,000. Farther Finance Advisors LLC purchased a new position in shares of Gladstone Capital in the 3rd quarter worth $44,000. PFS Partners LLC increased its holdings in shares of Gladstone Capital by 156.0% in the 3rd quarter. PFS Partners LLC now owns 1,969 shares of the investment management company’s stock worth $47,000 after buying an additional 1,200 shares during the last quarter. Finally, National Bank of Canada FI purchased a new stake in shares of Gladstone Capital during the 2nd quarter valued at about $98,000. 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.