Gladstone Capital Corporation (GLAD) Downgraded by BidaskClub to Sell
BidaskClub downgraded shares of Gladstone Capital Corporation (NASDAQ:GLAD) from a hold rating to a sell rating in a research report report published on Thursday morning.
Several other brokerages have also recently issued reports on GLAD. Zacks Investment Research upgraded Gladstone Capital Corporation from a hold rating to a buy rating and set a $11.00 price target on the stock in a research report on Tuesday, May 9th. National Securities restated a sell rating and issued a $8.00 price target on shares of Gladstone Capital Corporation in a research report on Monday, May 8th. Hilliard Lyons upgraded Gladstone Capital Corporation from an underperform rating to a neutral rating and boosted their price target for the company from $8.50 to $9.25 in a research report on Thursday, May 4th. Finally, DA Davidson restated a buy rating and issued a $10.00 price target on shares of Gladstone Capital Corporation in a research report on Wednesday, March 29th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $9.56.
Shares of Gladstone Capital Corporation (GLAD) traded up 0.71% during mid-day trading on Thursday, hitting $9.93. The stock had a trading volume of 87,448 shares. Gladstone Capital Corporation has a 52-week low of $7.33 and a 52-week high of $10.12. The firm has a 50 day moving average price of $9.85 and a 200 day moving average price of $9.61.
Gladstone Capital Corporation (NASDAQ:GLAD) last issued its quarterly earnings results on Wednesday, May 3rd. The investment management company reported $0.21 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.21. The firm had revenue of $8.79 million for the quarter, compared to analysts’ expectations of $9.78 million. Gladstone Capital Corporation had a return on equity of 10.03% and a net margin of 82.86%. On average, equities research analysts predict that Gladstone Capital Corporation will post $0.84 earnings per share for the current fiscal year.
The business also recently declared a monthly dividend, which will be paid on Thursday, August 31st. Investors of record on Monday, August 21st will be given a $0.07 dividend. This represents a $0.84 annualized dividend and a yield of 8.46%. The ex-dividend date of this dividend is Thursday, August 17th. Gladstone Capital Corporation’s dividend payout ratio (DPR) is presently 62.22%.
A number of institutional investors have recently modified their holdings of the stock. Legal & General Group Plc boosted its position in shares of Gladstone Capital Corporation by 17.1% in the first quarter. Legal & General Group Plc now owns 59,035 shares of the investment management company’s stock valued at $560,000 after buying an additional 8,638 shares during the period. Van ECK Associates Corp boosted its position in Gladstone Capital Corporation by 35.8% in the first quarter. Van ECK Associates Corp now owns 195,135 shares of the investment management company’s stock valued at $1,852,000 after buying an additional 51,454 shares during the last quarter. WFG Advisors LP boosted its position in Gladstone Capital Corporation by 2.6% in the first quarter. WFG Advisors LP now owns 12,785 shares of the investment management company’s stock valued at $121,000 after buying an additional 327 shares during the last quarter. Eagle Global Advisors LLC acquired a new position in Gladstone Capital Corporation during the first quarter valued at about $137,000. Finally, HL Financial Services LLC acquired a new position in Gladstone Capital Corporation during the first quarter valued at about $106,000. Hedge funds and other institutional investors own 15.91% of the company’s stock.
Gladstone Capital Corporation Company Profile
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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