Gladstone Capital (NASDAQ:GLAD) Hits New 12-Month High – Should You Buy?

Shares of Gladstone Capital Co. (NASDAQ:GLAD) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $27.81 and last traded at $25.72, with a volume of 39398 shares trading hands. The stock had previously closed at $25.68.

Analysts Set New Price Targets

Separately, B. Riley initiated coverage on Gladstone Capital in a report on Wednesday, October 23rd. They set a “neutral” rating and a $23.00 price objective for the company.

Gladstone Capital Stock Up 1.5 %

The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $564.20 million, a PE ratio of 6.83 and a beta of 1.25. The stock’s fifty day simple moving average is $24.18 and its 200-day simple moving average is $23.32.

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

Institutional Investors Weigh In On Gladstone Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp bought a new position in shares of Gladstone Capital in the third quarter valued at approximately $12,287,000. International Assets Investment Management LLC grew its stake in 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 purchasing an additional 368,546 shares during the period. D.A. Davidson & CO. raised its stake in shares of Gladstone Capital by 8.7% during the 3rd quarter. D.A. Davidson & CO. now owns 111,569 shares of the investment management company’s stock worth $2,683,000 after purchasing an additional 8,891 shares during the period. Legacy Capital Wealth Partners LLC purchased a new position in shares of Gladstone Capital in the 2nd quarter worth about $1,723,000. Finally, TrueMark Investments LLC bought a new position in Gladstone Capital during the second quarter valued at about $1,451,000. Hedge funds and other institutional investors own 10.72% of the company’s stock.

Gladstone Capital Company Profile

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.