Gladstone Capital (NASDAQ:GLAD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.
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. “
Several other analysts also recently commented on the company. BidaskClub upgraded Gladstone Capital from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 11th. National Securities downgraded Gladstone Capital from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $8.00 to $7.00 in a research note on Tuesday, November 6th. Finally, ValuEngine downgraded Gladstone Capital from a “hold” rating to a “sell” rating in a research note on Wednesday, November 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Gladstone Capital has a consensus rating of “Hold” and a consensus price target of $9.00.
GLAD traded down $0.13 during trading on Thursday, hitting $8.40. 257,600 shares of the company’s stock traded hands, compared to its average volume of 121,602. The company has a current ratio of 3.67, a quick ratio of 3.67 and a debt-to-equity ratio of 0.46. Gladstone Capital has a 12-month low of $7.80 and a 12-month high of $9.92. The company has a market cap of $243.15 million, a price-to-earnings ratio of 9.88 and a beta of 0.98.
Gladstone Capital (NASDAQ:GLAD) last issued its earnings results on Wednesday, November 14th. The investment management company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.01). Gladstone Capital had a net margin of 41.00% and a return on equity of 9.83%. The business had revenue of $11.26 million for the quarter, compared to analysts’ expectations of $12.00 million. As a group, research analysts forecast that Gladstone Capital will post 0.86 EPS for the current year.
In other news, President Robert L. Marcotte purchased 10,000 shares of the company’s stock in a transaction dated Tuesday, November 20th. The shares were purchased at an average cost of $8.71 per share, for a total transaction of $87,100.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 5.89% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in GLAD. Millennium Management LLC purchased a new position in shares of Gladstone Capital in the 1st quarter worth $568,000. Legal & General Group Plc raised its holdings in Gladstone Capital by 5.4% in the 2nd quarter. Legal & General Group Plc now owns 100,746 shares of the investment management company’s stock worth $909,000 after purchasing an additional 5,203 shares during the period. Van ECK Associates Corp raised its holdings in Gladstone Capital by 2.7% in the 2nd quarter. Van ECK Associates Corp now owns 202,100 shares of the investment management company’s stock worth $1,819,000 after purchasing an additional 5,304 shares during the period. California Public Employees Retirement System raised its holdings in Gladstone Capital by 18.5% in the 2nd quarter. California Public Employees Retirement System now owns 44,200 shares of the investment management company’s stock worth $398,000 after purchasing an additional 6,900 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in Gladstone Capital by 42.8% in the 2nd quarter. Advisors Asset Management Inc. now owns 308,212 shares of the investment management company’s stock worth $2,774,000 after purchasing an additional 92,447 shares during the period. Hedge funds and other institutional investors own 11.87% of the company’s stock.
About Gladstone Capital
Gladstone Capital Corporation is a private equity and a venture capital fund specializing in lower middle market, growth capital, add on acquisitions, debt investments in senior loans, second lien loans, senior subordinated loans, junior subordinated loans, and mezzanine loans and equity investments in the form of common stock, preferred stock, limited liability company interests, or warrants.
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