Gladstone Capital Co. (NASDAQ:GLAD) declared a monthly dividend on Wednesday, January 9th, Wall Street Journal reports. Stockholders of record on Wednesday, March 20th will be given a dividend of 0.07 per share by the investment management company on Friday, March 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 10.36%. The ex-dividend date of this dividend is Tuesday, March 19th.
Gladstone Capital has a dividend payout ratio of 97.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Gladstone Capital to earn $0.88 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 95.5%.
NASDAQ:GLAD opened at $8.11 on Thursday. The stock has a market cap of $221.48 million, a PE ratio of 9.54 and a beta of 1.06. Gladstone Capital has a 52 week low of $6.41 and a 52 week high of $9.87. The company has a quick ratio of 3.67, a current ratio of 3.67 and a debt-to-equity ratio of 0.46.
A number of equities research analysts recently issued reports on GLAD shares. ValuEngine cut shares of Gladstone Capital from a “hold” rating to a “sell” rating in a research report on Friday, December 21st. TheStreet cut shares of Gladstone Capital from a “b-” rating to a “c” rating in a research report on Monday, December 10th. National Securities cut shares of Gladstone Capital from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $8.00 to $7.00 in a research report on Tuesday, November 6th. Zacks Investment Research cut shares of Gladstone Capital from a “hold” rating to a “sell” rating in a research report on Thursday, December 13th. Finally, BidaskClub upgraded shares of Gladstone Capital from a “hold” rating to a “buy” rating in a research report on Thursday, November 15th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $9.00.
In related news, President Robert L. Marcotte acquired 10,000 shares of the stock in a transaction on Tuesday, November 20th. The stock was purchased at an average price of $8.71 per share, for a total transaction of $87,100.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, President Robert L. Marcotte acquired 12,000 shares of the stock in a transaction on Friday, December 7th. The stock was bought at an average price of $8.33 per share, with a total value of $99,960.00. Following the transaction, the president now directly owns 460,037 shares in the company, valued at approximately $3,832,108.21. The disclosure for this purchase can be found here. Insiders acquired a total of 22,582 shares of company stock valued at $192,077 in the last 90 days. Corporate insiders own 5.85% of the company’s stock.
Gladstone Capital Company Profile
Gladstone Capital Corporation is a private equity and a venture capital fund specializing in lower middle market, growth capital, add on acquisitions, debt investments in senior loans, second lien loans, senior subordinated loans, junior subordinated loans, and mezzanine loans and equity investments in the form of common stock, preferred stock, limited liability company interests, or warrants.
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