Gladstone Capital Co. (GLAD) Receives $9.16 Average Target Price from Analysts
Gladstone Capital Co. (NASDAQ:GLAD) has been given a consensus rating of “Hold” by the eight analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $9.16.
A number of research analysts have recently issued reports on the company. Zacks Investment Research raised Gladstone Capital from a “sell” rating to a “hold” rating in a report on Wednesday, December 6th. National Securities reissued a “sell” rating and issued a $8.00 target price on shares of Gladstone Capital in a report on Wednesday, November 22nd.
Shares of Gladstone Capital (NASDAQ:GLAD) traded down $0.29 during midday trading on Friday, reaching $8.80. The company’s stock had a trading volume of 230,394 shares, compared to its average volume of 130,840. The company has a debt-to-equity ratio of 0.42, a quick ratio of 4.33 and a current ratio of 4.33. Gladstone Capital has a one year low of $8.67 and a one year high of $10.12. The stock has a market capitalization of $242.09, a PE ratio of 13.13 and a beta of 1.10.
The business also recently announced a monthly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Friday, February 16th will be issued a $0.07 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 9.55%. The ex-dividend date of this dividend is Thursday, February 15th. Gladstone Capital’s payout ratio is currently 125.37%.
In other Gladstone Capital news, Director Walter H. Wilkinson acquired 6,134 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The shares were purchased at an average price of $9.79 per share, with a total value of $60,051.86. Following the completion of the acquisition, the director now directly owns 13,517 shares of the company’s stock, valued at approximately $132,331.43. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Robert L. Marcotte acquired 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The shares were acquired at an average cost of $9.82 per share, for a total transaction of $78,560.00. Following the acquisition, the president now directly owns 381,770 shares of the company’s stock, valued at $3,748,981.40. The disclosure for this purchase can be found here. In the last three months, insiders bought 22,334 shares of company stock worth $215,692. Corporate insiders own 5.89% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc grew its holdings in Gladstone Capital by 4.5% during the second quarter. Legal & General Group Plc now owns 61,669 shares of the investment management company’s stock worth $607,000 after acquiring an additional 2,634 shares during the period. JPMorgan Chase & Co. grew its holdings in Gladstone Capital by 9.5% during the third quarter. JPMorgan Chase & Co. now owns 87,117 shares of the investment management company’s stock worth $820,000 after acquiring an additional 7,586 shares during the period. D.A. Davidson & CO. grew its holdings in Gladstone Capital by 142.9% during the third quarter. D.A. Davidson & CO. now owns 22,271 shares of the investment management company’s stock worth $211,000 after acquiring an additional 13,104 shares during the period. OxFORD Asset Management LLP acquired a new stake in Gladstone Capital in the third quarter valued at $151,000. Finally, Janney Montgomery Scott LLC grew its holdings in Gladstone Capital by 68.5% in the third quarter. Janney Montgomery Scott LLC now owns 43,549 shares of the investment management company’s stock valued at $414,000 after purchasing an additional 17,709 shares during the last quarter. 14.32% of the stock is currently owned by hedge funds and other institutional investors.
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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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