Gladstone Capital (NASDAQ:GLAD) was downgraded by investment analysts at TheStreet from a “b” rating to a “c+” rating in a research note issued on Tuesday.
GLAD has been the subject of several other reports. National Securities reiterated a “sell” rating and issued a $8.00 price target on shares of Gladstone Capital in a report on Wednesday, November 22nd. Zacks Investment Research upgraded Gladstone Capital from a “sell” rating to a “hold” rating in a report on Wednesday, December 6th. Finally, Ladenburg Thalmann Financial Services upgraded Gladstone Capital from a “neutral” rating to a “buy” rating in a report on Wednesday. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $9.16.
Shares of Gladstone Capital (NASDAQ GLAD) traded down $0.04 on Tuesday, reaching $8.97. The company’s stock had a trading volume of 26,369 shares, compared to its average volume of 170,418. The company has a debt-to-equity ratio of 0.58, a current ratio of 5.96 and a quick ratio of 4.33. The firm has a market cap of $223.98, a P/E ratio of 10.07 and a beta of 1.10. Gladstone Capital has a 52 week low of $7.80 and a 52 week high of $10.12.
In other news, Director Walter H. Wilkinson acquired 6,134 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was acquired at an average cost of $9.79 per share, for a total transaction of $60,051.86. Following the acquisition, the director now directly owns 13,517 shares in the company, valued at approximately $132,331.43. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Robert L. Marcotte acquired 8,200 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were purchased at an average price of $9.40 per share, with a total value of $77,080.00. The disclosure for this purchase can be found here. Insiders acquired a total of 22,334 shares of company stock valued at $215,692 over the last quarter. 5.89% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Mckinley Capital Management LLC Delaware increased its holdings in shares of 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. Bank of Montreal Can increased its holdings in shares of Gladstone Capital by 15.6% during the 4th quarter. Bank of Montreal Can now owns 245,000 shares of the investment management company’s stock worth $2,256,000 after buying an additional 33,000 shares during the last quarter. GSA Capital Partners LLP increased its holdings in shares of Gladstone Capital by 193.0% during the 3rd quarter. GSA Capital Partners LLP now owns 89,073 shares of the investment management company’s stock worth $846,000 after buying an additional 58,673 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Gladstone Capital by 68.5% during the 3rd quarter. Janney Montgomery Scott LLC now owns 43,549 shares of the investment management company’s stock worth $414,000 after buying an additional 17,709 shares during the last quarter. Finally, OxFORD Asset Management LLP acquired a new stake in shares of Gladstone Capital during the 3rd quarter worth $151,000. Institutional investors and hedge funds own 14.32% 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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