Legacy Capital Wealth Partners LLC Lowers Stock Holdings in Gladstone Capital Corporation (NASDAQ:GLAD)

Legacy Capital Wealth Partners LLC reduced its position in Gladstone Capital Corporation (NASDAQ:GLAD - Free Report) by 17.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 54,755 shares of the investment management company's stock after selling 11,810 shares during the quarter. Legacy Capital Wealth Partners LLC owned about 0.25% of Gladstone Capital worth $1,504,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in shares of Gladstone Capital in the 4th quarter worth $840,000. LPL Financial LLC increased its stake in shares of Gladstone Capital by 8.5% in the 4th quarter. LPL Financial LLC now owns 154,580 shares of the investment management company's stock worth $4,396,000 after acquiring an additional 12,064 shares during the last quarter. DnB Asset Management AS increased its stake in shares of Gladstone Capital by 5.4% in the 4th quarter. DnB Asset Management AS now owns 116,143 shares of the investment management company's stock worth $3,303,000 after acquiring an additional 5,903 shares during the last quarter. Wedbush Securities Inc. purchased a new position in shares of Gladstone Capital during the 4th quarter worth $209,000. Finally, XTX Topco Ltd purchased a new position in shares of Gladstone Capital during the 4th quarter worth $241,000. 10.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, B. Riley upgraded Gladstone Capital to a "hold" rating in a report on Monday, June 16th.

Gladstone Capital Trading Up 1.0%

Shares of NASDAQ GLAD traded up $0.29 during mid-day trading on Thursday, reaching $29.20. 97,902 shares of the company's stock were exchanged, compared to its average volume of 103,268. The firm has a market capitalization of $652.04 million, a price-to-earnings ratio of 7.41 and a beta of 0.99. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.04 and a current ratio of 0.04. Gladstone Capital Corporation has a 52-week low of $21.40 and a 52-week high of $30.43. The company's 50-day moving average is $26.89 and its 200-day moving average is $27.25.

Gladstone Capital (NASDAQ:GLAD - Get Free Report) last announced its earnings results on Tuesday, May 6th. The investment management company reported $0.50 EPS for the quarter, meeting analysts' consensus estimates of $0.50. Gladstone Capital had a return on equity of 9.85% and a net margin of 93.42%. The company had revenue of $21.57 million during the quarter, compared to analysts' expectations of $22.95 million. Analysts expect that Gladstone Capital Corporation will post 2.03 EPS for the current fiscal year.

Gladstone Capital Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 22nd will be issued a dividend of $0.165 per share. This represents a $1.98 dividend on an annualized basis and a yield of 6.78%. The ex-dividend date of this dividend is Monday, September 22nd. Gladstone Capital's dividend payout ratio (DPR) is 50.25%.

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.