Bob Marcotte, President of Gladstone Capital Corp (NASDAQ:GLAD), recently sold 15,500 shares of the company's common stock. The shares were sold at a weighted average price of $27.35, amounting to a total transaction value of $423,925. The transaction occurred with the stock trading near its 52-week high of $28.09, amid a strong year-to-date return of 40.2%. Following this sale, Marcotte holds 248,210 shares directly. Additionally, he maintains indirect ownership of 500 shares through a trust. The transaction was disclosed in a regulatory filing on December 11, 2024.The $614 million market cap company currently offers an attractive 8.72% dividend yield and trades at a P/E ratio of 6.35. InvestingPro subscribers have access to 10 additional key insights about GLAD's financial health and market position.
In other recent news, Gladstone Capital Corporation has announced the resignation of board member Paul W. Adelgren, effective December 15, 2024. This development comes amid strong financial performance for the company. In the recent quarter ending September 30, 2024, Gladstone reported a slight increase in total interest income to $23.4 million, and annual net investment income grew by 12% to $46.1 million, although the net investment income for the quarter decreased by 12% to $11 million.
The company also launched an offering of 5,561,275 shares of its 6.25% Series A Cumulative Redeemable Preferred Stock, a move designed to raise capital for its operations and investments. Furthermore, Gladstone announced a significant equity exit from its investment in ARA, resulting in $63.7 million in proceeds.
In other recent developments, Gladstone announced a supplemental distribution of $0.40 per share in December, and its net assets increased to $471 million. The company anticipates an active quarter of new originations and continues to seek attractive financing opportunities in the lower middle market. As reported in the earnings call, the company maintains a conservative leverage ratio, with debt at 73% of Net Asset Value.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.