Gladstone Capital (NASDAQ:GLAD) Shares Pass Above 200-Day Moving Average – Should You Sell?

Gladstone Capital Corporation (NASDAQ:GLAD)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $18.92 and traded as high as $19.83. Gladstone Capital shares last traded at $19.67, with a volume of 126,025 shares traded.

Wall Street Analysts Forecast Growth

GLAD has been the subject of a number of analyst reports. B. Riley Financial restated a “buy” rating on shares of Gladstone Capital in a research report on Friday, May 8th. Weiss Ratings upgraded shares of Gladstone Capital from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 2nd. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Gladstone Capital currently has a consensus rating of “Hold” and an average target price of $21.67.

Gladstone Capital Stock Down 1.2%

The company has a 50-day moving average of $19.30 and a 200 day moving average of $18.91. The firm has a market capitalization of $446.38 million, a PE ratio of 9.59 and a beta of 0.92.

Gladstone Capital (NASDAQ:GLAD) last issued its quarterly earnings results on Tuesday, August 4th. The investment management company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. Gladstone Capital had a return on equity of 9.67% and a net margin of 50.48%.The firm had revenue of $24.50 million during the quarter, compared to the consensus estimate of $24.90 million. As a group, equities analysts anticipate that Gladstone Capital Corporation will post 1.99 EPS for the current fiscal year.

Gladstone Capital Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st will be given a dividend of $0.15 per share. The ex-dividend date is Monday, September 21st. This represents a c) annualized dividend and a yield of 9.1%. Gladstone Capital’s payout ratio is presently 87.38%.

Hedge Funds Weigh In On Gladstone Capital

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Miller Global Investments LLC purchased a new stake in shares of Gladstone Capital during the 2nd quarter valued at $311,000. Sunbelt Securities Inc. purchased a new position in Gladstone Capital in the first quarter worth $142,000. Entropy Technologies LP purchased a new position in Gladstone Capital in the first quarter worth $179,000. Virtu Financial LLC purchased a new position in Gladstone Capital in the fourth quarter worth $213,000. Finally, Virtus Investment Advisers LLC increased its stake in Gladstone Capital by 60.5% in the fourth quarter. Virtus Investment Advisers LLC now owns 28,401 shares of the investment management company’s stock valued at $587,000 after acquiring an additional 10,703 shares during the last quarter. Hedge funds and other institutional investors own 10.72% of the company’s stock.

Gladstone Capital Company Profile

Gladstone Capital Corporation is a publicly traded business development company (BDC) that provides debt and equity financing solutions to U.S. lower middle-market companies. Operating under an external management agreement with Gladstone Management L.P., the firm offers senior secured loans, mezzanine debt and equity investments designed to support growth initiatives, acquisitions and recapitalizations. Through its focus on privately held businesses, Gladstone Capital seeks to construct a diversified portfolio across various industry sectors.

Since its formation in 2003, Gladstone Capital has developed a track record of working closely with management teams and business owners to meet their capital needs.