Gladstone Capital Corp. (GLAD) to Issue $0.07 Monthly Dividend
Gladstone Capital Corp. (NASDAQ:GLAD) declared a monthly dividend on Wednesday, October 12th. Stockholders of record on Thursday, November 17th will be paid a dividend of 0.07 per share by the investment management company on Wednesday, November 30th. This represents a $0.84 annualized dividend and a dividend yield of 10.21%. The ex-dividend date is Tuesday, November 15th.
Shares of Gladstone Capital Corp. (NASDAQ:GLAD) traded up 1.11% on Wednesday, hitting $8.23. The stock had a trading volume of 59,981 shares. Gladstone Capital Corp. has a 12-month low of $4.71 and a 12-month high of $9.09. The company has a 50 day moving average of $8.29 and a 200-day moving average of $7.73.
Gladstone Capital Corp. (NASDAQ:GLAD) last released its quarterly earnings results on Wednesday, August 3rd. The investment management company reported $0.21 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.21. Gladstone Capital Corp. had a negative net margin of 35.47% and a positive return on equity of 10.58%. On average, equities research analysts predict that Gladstone Capital Corp. will post $0.84 EPS for the current fiscal year.
Several research analysts have weighed in on GLAD shares. Zacks Investment Research cut shares of Gladstone Capital Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th. National Securities reissued a “neutral” rating and issued a $7.00 price target on shares of Gladstone Capital Corp. in a report on Friday, August 5th. Five analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and a consensus target price of $7.31.
In other news, President Robert L. Marcotte acquired 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The shares were acquired at an average cost of $8.35 per share, with a total value of $66,800.00. Following the completion of the purchase, the president now directly owns 286,758 shares of the company’s stock, valued at approximately $2,394,429.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Terry Lee Brubaker sold 20,876 shares of Gladstone Capital Corp. stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $8.39, for a total transaction of $175,149.64. Following the completion of the transaction, the chief operating officer now directly owns 109,610 shares in the company, valued at $919,627.90. The disclosure for this sale can be found here. Insiders own 6.49% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in GLAD. Van ECK Associates Corp boosted its position in shares of Gladstone Capital Corp. by 12.9% in the second quarter. Van ECK Associates Corp now owns 108,111 shares of the investment management company’s stock worth $783,000 after buying an additional 12,335 shares during the period. Nuveen Fund Advisors LLC purchased a new position in shares of Gladstone Capital Corp. during the second quarter worth about $385,000. Janney Montgomery Scott LLC boosted its position in shares of Gladstone Capital Corp. by 126.7% in the second quarter. Janney Montgomery Scott LLC now owns 49,466 shares of the investment management company’s stock worth $358,000 after buying an additional 27,650 shares during the period. Finally, BlackRock Group LTD boosted its position in shares of Gladstone Capital Corp. by 14.6% in the second quarter. BlackRock Group LTD now owns 116,902 shares of the investment management company’s stock worth $846,000 after buying an additional 14,874 shares during the period. 9.34% of the stock is currently owned by institutional investors and hedge funds.
About Gladstone Capital Corp.
Gladstone Capital Corporation is an externally managed, closed-end and non-diversified management investment company. The Company’s investment objectives are to achieve and grow current income by investing in debt securities of established businesses that will provide earnings and cash flow to pay expenses, which make principal and interest payments on its indebtedness and make distributions to stockholders that grow over time, and to provide its stockholders with long-term capital appreciation in the value of its assets by investing in equity securities of established businesses that it can grow over time to permit customers to sell its equity investments for capital gains.
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