Zacks Investment Research upgraded shares of Gladstone Capital (NASDAQ:GLAD) from a hold rating to a buy rating in a report published on Wednesday, April 11th. They currently have $9.75 target price on the investment management company’s stock.
According to Zacks, “Gladstone Capital Corporation is a specialty finance company that invests in debt securities consisting primarily of senior term loans, senior subordinated loans, and junior subordinated loans in small and medium sized companies. The Company target small and medium sized private businesses that meet some or all of our criteria, including the potential for growth, adequate assets for loan collateral, experienced management teams with significant ownership interest in the business, adequate capitalization, profitable operations based on cash flow, substantial ownership by a buyout fund or a venture capital fund and potential opportunities for us to realize appreciation and gain liquidity in our equity position. “
Other research analysts have also issued reports about the company. Ladenburg Thalmann raised Gladstone Capital from a neutral rating to a buy rating in a report on Wednesday, February 7th. TheStreet downgraded Gladstone Capital from a b rating to a c+ rating in a research note on Tuesday, February 6th. ValuEngine downgraded Gladstone Capital from a buy rating to a hold rating in a research report on Monday, April 2nd. Finally, National Securities upgraded Gladstone Capital from a sell rating to a neutral rating and set a $8.00 price target on the stock in a research report on Tuesday, February 6th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Gladstone Capital has a consensus rating of Hold and a consensus target price of $9.10.
GLAD opened at $8.62 on Wednesday. The firm has a market capitalization of $229.57, a PE ratio of 10.26 and a beta of 1.09. The company has a debt-to-equity ratio of 0.58, a current ratio of 5.96 and a quick ratio of 5.96. Gladstone Capital has a 12 month low of $7.80 and a 12 month high of $10.12.
Gladstone Capital (NASDAQ:GLAD) last announced its earnings results on Monday, February 5th. The investment management company reported $0.21 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.21. The company had revenue of $10.86 million for the quarter, compared to analyst estimates of $10.72 million. Gladstone Capital had a return on equity of 9.97% and a net margin of 58.48%. research analysts expect that Gladstone Capital will post 0.86 earnings per share for the current year.
The firm also recently announced a monthly dividend, which will be paid on Monday, April 30th. Shareholders of record on Friday, April 20th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, April 19th. This represents a $0.84 annualized dividend and a yield of 9.74%. Gladstone Capital’s dividend payout ratio (DPR) is 100.00%.
In other Gladstone Capital news, President Robert L. Marcotte bought 11,400 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was bought at an average price of $9.04 per share, with a total value of $103,056.00. Following the completion of the purchase, the president now directly owns 405,517 shares in the company, valued at $3,665,873.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have acquired 13,729 shares of company stock valued at $124,164. 5.89% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisor Group Inc. boosted its holdings in Gladstone Capital by 156.8% in the fourth quarter. Advisor Group Inc. now owns 11,160 shares of the investment management company’s stock valued at $102,000 after purchasing an additional 6,815 shares during the period. JPMorgan Chase & Co. lifted its holdings in Gladstone Capital by 9.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 87,117 shares of the investment management company’s stock worth $820,000 after buying an additional 7,586 shares during the last quarter. Mckinley Capital Management LLC Delaware lifted its holdings in Gladstone Capital by 8.5% during the 4th quarter. Mckinley Capital Management LLC Delaware now owns 136,864 shares of the investment management company’s stock worth $1,260,000 after buying an additional 10,724 shares during the last quarter. Legal & General Group Plc lifted its holdings in Gladstone Capital by 22.5% during the 3rd quarter. Legal & General Group Plc now owns 75,544 shares of the investment management company’s stock worth $717,000 after buying an additional 13,875 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in Gladstone Capital by 9.6% during the 4th quarter. BlackRock Inc. now owns 158,482 shares of the investment management company’s stock worth $1,460,000 after buying an additional 13,888 shares during the last quarter. Institutional investors and hedge funds own 13.60% of the company’s stock.
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About Gladstone Capital
Gladstone Capital Corporation is a closed-end, non-diversified management investment company, operating as a business development company (BDC). The objectives of the Company are to achieve and grow current income by investing in debt securities of established businesses that it believes will provide stable earnings and cash flow to pay expenses, make principal and interest payments on its outstanding indebtedness and make distributions to stockholders that grow over time, and to provide its stockholders with long-term capital appreciation in the value of its assets by investing in equity securities of established businesses that it believes can grow over time to permit it to sell its equity investments for capital gains.
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