Zacks Investment Research upgraded shares of Gladstone Capital (NASDAQ:GLAD) from a sell rating to a hold rating in a research report sent to investors on Wednesday.
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 research firms also recently weighed in on GLAD. BidaskClub raised shares of Gladstone Capital from a hold rating to a buy rating in a research report on Thursday, November 15th. National Securities downgraded shares of Gladstone Capital from a neutral rating to a sell rating and dropped their target price for the stock from $8.00 to $7.00 in a research report on Tuesday, November 6th. Finally, ValuEngine downgraded shares of Gladstone Capital from a hold rating to a sell rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $9.00.
Gladstone Capital (NASDAQ:GLAD) last released its earnings results on Wednesday, November 14th. The investment management company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.01). The company had revenue of $11.26 million for the quarter, compared to analysts’ expectations of $12.00 million. Gladstone Capital had a return on equity of 9.83% and a net margin of 41.00%. On average, equities research analysts expect that Gladstone Capital will post 0.86 earnings per share for the current year.
The firm also recently disclosed a dividend, which was paid on Friday, November 30th. Stockholders of record on Tuesday, November 20th were issued a $0.07 dividend. The ex-dividend date of this dividend was Monday, November 19th. Gladstone Capital’s dividend payout ratio (DPR) is currently 98.82%.
In other Gladstone Capital news, President Robert L. Marcotte acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, November 20th. The shares were acquired at an average cost of $8.71 per share, with a total value of $87,100.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 5.89% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in GLAD. Advisors Asset Management Inc. boosted its holdings in shares of 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 valued at $2,774,000 after acquiring an additional 92,447 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of Gladstone Capital in the 1st quarter valued at $568,000. Koshinski Asset Management Inc. purchased a new stake in shares of Gladstone Capital in the 3rd quarter valued at $256,000. Bank of Montreal Can boosted its holdings in shares of Gladstone Capital by 6.1% in the 3rd quarter. Bank of Montreal Can now owns 260,000 shares of the investment management company’s stock valued at $2,470,000 after acquiring an additional 15,000 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of Gladstone Capital by 13.1% in the 3rd quarter. BlackRock Inc. now owns 126,599 shares of the investment management company’s stock valued at $1,203,000 after acquiring an additional 14,631 shares during the last quarter. 11.97% of the stock is currently owned by institutional investors and hedge funds.
Gladstone Capital Company Profile
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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