Shares of Gladstone Capital Co. (NASDAQ:GLAD) have been assigned an average recommendation of “Hold” from the seven brokerages that are presently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $8.70.
GLAD has been the topic of a number of recent research reports. ValuEngine upgraded shares of Gladstone Capital from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 7th. National Securities reissued a “neutral” rating and set a $8.00 price objective on shares of Gladstone Capital in a report on Monday, May 7th. Finally, Zacks Investment Research raised Gladstone Capital from a “hold” rating to a “buy” rating and set a $9.75 price objective for the company in a report on Wednesday, April 11th.
GLAD traded up $0.02 during trading on Thursday, reaching $9.19. 124,803 shares of the company’s stock were exchanged, compared to its average volume of 99,302. Gladstone Capital has a fifty-two week low of $7.80 and a fifty-two week high of $9.95. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.74 and a quick ratio of 3.74. The company has a market capitalization of $247.19 million, a P/E ratio of 10.94 and a beta of 1.13.
Gladstone Capital (NASDAQ:GLAD) last posted its quarterly earnings results on Wednesday, May 2nd. The investment management company reported $0.21 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.21. Gladstone Capital had a net margin of 66.28% and a return on equity of 9.87%. The firm had revenue of $11.09 million for the quarter, compared to the consensus estimate of $11.60 million. equities research analysts expect that Gladstone Capital will post 0.85 EPS for the current fiscal year.
The business also recently disclosed a monthly dividend, which was paid on Thursday, May 31st. Shareholders of record on Tuesday, May 22nd were issued a dividend of $0.07 per share. The ex-dividend date was Monday, May 21st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 9.14%. Gladstone Capital’s payout ratio is presently 100.00%.
In related news, President Robert L. Marcotte acquired 10,000 shares of the business’s stock in a transaction on Tuesday, May 8th. The stock was bought at an average cost of $8.91 per share, with a total value of $89,100.00. Following the completion of the acquisition, the president now owns 423,264 shares in the company, valued at $3,771,282.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 5.89% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of Montreal Can lifted its holdings in shares of Gladstone Capital by 15.6% during the fourth quarter. Bank of Montreal Can now owns 245,000 shares of the investment management company’s stock valued at $2,256,000 after acquiring an additional 33,000 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Gladstone Capital by 413.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 106,388 shares of the investment management company’s stock valued at $980,000 after acquiring an additional 85,672 shares during the period. D.A. Davidson & CO. lifted its holdings in shares of Gladstone Capital by 63.7% during the fourth quarter. D.A. Davidson & CO. now owns 36,456 shares of the investment management company’s stock valued at $336,000 after acquiring an additional 14,185 shares during the period. LPL Financial LLC lifted its holdings in shares of Gladstone Capital by 29.9% during the fourth quarter. LPL Financial LLC now owns 172,925 shares of the investment management company’s stock valued at $1,593,000 after acquiring an additional 39,816 shares during the period. Finally, Two Sigma Investments LP lifted its holdings in shares of Gladstone Capital by 356.3% during the fourth quarter. Two Sigma Investments LP now owns 172,443 shares of the investment management company’s stock valued at $1,588,000 after acquiring an additional 134,651 shares during the period. 12.37% of the stock is owned by institutional investors.
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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