Gladstone Capital (NASDAQ:GLAD) Posts Earnings Results

Gladstone Capital (NASDAQ:GLAD) posted its quarterly earnings data on Wednesday. The investment management company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02, Zacks reports. The business had revenue of $24.51 million for the quarter, compared to analysts’ expectations of $24.70 million. Gladstone Capital had a return on equity of 9.56% and a net margin of 39.42%.

Gladstone Capital Stock Down 5.7%

Gladstone Capital stock opened at $19.28 on Friday. The firm has a fifty day moving average of $20.78 and a 200-day moving average of $22.34. Gladstone Capital has a 52-week low of $18.76 and a 52-week high of $29.54. The firm has a market capitalization of $435.54 million, a P/E ratio of 12.13 and a beta of 0.94.

Gladstone Capital Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd will be paid a dividend of $0.15 per share. This represents a c) annualized dividend and a yield of 9.3%. The ex-dividend date is Monday, March 23rd. Gladstone Capital’s payout ratio is currently 70.31%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Gladstone Capital in a research report on Monday, December 29th. Oppenheimer upgraded shares of Gladstone Capital from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $26.00 to $22.00 in a report on Wednesday, November 19th. Jefferies Financial Group set a $21.00 target price on shares of Gladstone Capital and gave the stock a “hold” rating in a research report on Friday. Wall Street Zen raised shares of Gladstone Capital from a “sell” rating to a “hold” rating in a research report on Saturday, December 20th. Finally, Zacks Research raised shares of Gladstone Capital from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Gladstone Capital currently has a consensus rating of “Hold” and a consensus target price of $21.67.

Institutional Trading of Gladstone Capital

Large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its stake in shares of Gladstone Capital by 1.6% during the first quarter. Goldman Sachs Group Inc. now owns 28,853 shares of the investment management company’s stock worth $792,000 after purchasing an additional 456 shares in the last quarter. Quantbot Technologies LP raised its holdings in shares of Gladstone Capital by 52.7% during the 2nd quarter. Quantbot Technologies LP now owns 4,272 shares of the investment management company’s stock valued at $115,000 after buying an additional 1,474 shares during the period. WFA of San Diego LLC acquired a new position in Gladstone Capital during the 2nd quarter worth approximately $42,000. JPMorgan Chase & Co. acquired a new position in Gladstone Capital during the 2nd quarter worth approximately $46,000. Finally, Larson Financial Group LLC boosted its holdings in Gladstone Capital by 380.0% in the 3rd quarter. Larson Financial Group LLC now owns 2,400 shares of the investment management company’s stock worth $52,000 after acquiring an additional 1,900 shares during the period. 10.72% of the stock is currently owned by institutional investors and hedge funds.

About Gladstone Capital

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.