Gladstone Capital (NASDAQ:GLAD) Share Price Passes Above 200-Day Moving Average - Here's Why

Gladstone Capital Corporation (NASDAQ:GLAD - Get Free Report)'s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $27.22 and traded as high as $28.11. Gladstone Capital shares last traded at $27.91, with a volume of 92,028 shares changing hands.

Analyst Upgrades and Downgrades

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

Gladstone Capital Stock Performance

The business has a 50 day simple moving average of $26.69 and a two-hundred day simple moving average of $27.23. The firm has a market cap of $636.85 million, a PE ratio of 7.24 and a beta of 0.99. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.05.

Gladstone Capital (NASDAQ:GLAD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The investment management company reported $0.50 earnings per share for the quarter, hitting the consensus estimate of $0.50. Gladstone Capital had a return on equity of 9.85% and a net margin of 93.42%. The business had revenue of $21.57 million during the quarter, compared to the consensus estimate of $22.95 million. As a group, equities research analysts forecast that Gladstone Capital Corporation will post 2.03 earnings per share for the current fiscal year.

Gladstone Capital Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, July 21st will be given a dividend of $0.165 per share. This represents a $1.98 annualized dividend and a dividend yield of 6.94%. The ex-dividend date of this dividend is Monday, July 21st. Gladstone Capital's payout ratio is 50.25%.

Hedge Funds Weigh In On Gladstone Capital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its stake in shares of Gladstone Capital by 1.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 28,853 shares of the investment management company's stock valued at $792,000 after purchasing an additional 456 shares during the last quarter. Belpointe Asset Management LLC purchased a new stake in shares of Gladstone Capital in the 1st quarter valued at $204,000. Focus Partners Wealth purchased a new stake in Gladstone Capital during the 1st quarter worth about $220,000. Advisors Asset Management Inc. increased its holdings in Gladstone Capital by 8.0% during the 1st quarter. Advisors Asset Management Inc. now owns 85,652 shares of the investment management company's stock worth $2,352,000 after purchasing an additional 6,321 shares during the period. Finally, Compound Planning Inc. increased its holdings in shares of Gladstone Capital by 14.6% in the 1st quarter. Compound Planning Inc. now owns 20,537 shares of the investment management company's stock valued at $564,000 after acquiring an additional 2,620 shares during the last quarter. Institutional investors and hedge funds 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.