Insider Selling: Gladstone Capital Co. (NASDAQ:GLAD) President Sells 15,500 Shares of Stock

Gladstone Capital Co. (NASDAQ:GLAD) President Bob Marcotte sold 15,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $27.35, for a total value of $423,925.00. Following the transaction, the president now owns 248,210 shares of the company’s stock, valued at $6,788,543.50. This represents a 5.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Gladstone Capital Price Performance

Shares of Gladstone Capital stock traded up $0.24 during trading hours on Wednesday, reaching $27.53. The company’s stock had a trading volume of 117,241 shares, compared to its average volume of 128,331. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.04 and a quick ratio of 0.04. Gladstone Capital Co. has a one year low of $19.20 and a one year high of $28.09. The firm has a 50 day moving average price of $25.47 and a 200-day moving average price of $23.95. The stock has a market cap of $614.74 million, a P/E ratio of 7.18 and a beta of 1.27.

Gladstone Capital Increases Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, December 4th. This is an increase from Gladstone Capital’s previous dividend of $0.17. Gladstone Capital’s dividend payout ratio is 52.11%.

Hedge Funds Weigh In On Gladstone Capital

A number of institutional investors and hedge funds have recently modified their holdings of the stock. TrueMark Investments LLC purchased a new stake in Gladstone Capital during the 2nd quarter valued at $1,451,000. nVerses Capital LLC purchased a new stake in shares of Gladstone Capital in the second quarter valued at $37,000. Legacy Capital Wealth Partners LLC bought a new stake in shares of Gladstone Capital in the 2nd quarter worth about $1,723,000. National Bank of Canada FI purchased a new position in shares of Gladstone Capital during the 2nd quarter worth about $98,000. Finally, Newbridge Financial Services Group Inc. bought a new position in Gladstone Capital during the 2nd quarter valued at about $32,000. Hedge funds and other institutional investors own 10.72% of the company’s stock.

Analysts Set New Price Targets

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

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.