Gladstone Capital Corp. (GLAD) to Issue $0.07 Monthly Dividend
Gladstone Capital Corp. (NASDAQ:GLAD) declared a monthly dividend on Wednesday, October 12th. Shareholders of record on Tuesday, December 20th will be given a dividend of 0.07 per share by the investment management company on Friday, December 30th. This represents a $0.84 dividend on an annualized basis and a yield of 10.21%. The ex-dividend date of this dividend is Friday, December 16th.
Gladstone Capital Corp. (NASDAQ:GLAD) opened at 8.23 on Thursday. Gladstone Capital Corp. has a 12-month low of $4.71 and a 12-month high of $9.09. The firm has a 50-day moving average of $8.28 and a 200-day moving average of $7.74.
Gladstone Capital Corp. (NASDAQ:GLAD) last released its earnings results on Wednesday, August 3rd. The investment management company reported $0.21 earnings per share (EPS) for the quarter, hitting 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%. Equities analysts predict that Gladstone Capital Corp. will post $0.84 earnings per share for the current fiscal year.
Several research firms recently issued reports on GLAD. Zacks Investment Research raised shares of Gladstone Capital Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, October 5th. National Securities reissued a “neutral” rating and issued a $7.00 target price on shares of Gladstone Capital Corp. in a research report on Friday, August 5th. Five investment analysts have rated the stock with a hold rating, Gladstone Capital Corp. presently has an average rating of “Hold” and a consensus target price of $7.31.
In other Gladstone Capital Corp. news, President Robert L. Marcotte purchased 8,000 shares of Gladstone Capital Corp. stock in a transaction on Thursday, August 11th. The shares were purchased at an average cost of $8.35 per share, with a total value of $66,800.00. Following the completion of the transaction, the president now directly owns 286,758 shares in the company, valued at approximately $2,394,429.30. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Robert L. Marcotte purchased 6,000 shares of Gladstone Capital Corp. stock in a transaction on Monday, August 22nd. The shares were acquired at an average cost of $8.52 per share, for a total transaction of $51,120.00. Following the completion of the transaction, the president now owns 290,758 shares of the company’s stock, valued at $2,477,258.16. The disclosure for this purchase can be found here. Company insiders own 6.49% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Group LTD raised its stake in 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 in the last quarter. Janney Montgomery Scott LLC raised its stake in 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 in the last quarter. Nuveen Fund Advisors LLC purchased a new stake in Gladstone Capital Corp. during the second quarter worth about $385,000. Finally, Van ECK Associates Corp raised its stake in 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 in the last quarter. 9.34% of the stock is currently owned by hedge funds and other institutional investors.
Gladstone Capital Corp. Company Profile
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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