Gladstone Capital Corporation (GLAD) Shares Bought by Legal & General Group Plc
Legal & General Group Plc raised its stake in shares of Gladstone Capital Corporation (NASDAQ:GLAD) by 4.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,669 shares of the investment management company’s stock after purchasing an additional 2,634 shares during the quarter. Legal & General Group Plc’s holdings in Gladstone Capital Corporation were worth $607,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. Advisors Asset Management Inc. increased its position in Gladstone Capital Corporation by 7.0% during the 2nd quarter. Advisors Asset Management Inc. now owns 171,702 shares of the investment management company’s stock valued at $1,688,000 after purchasing an additional 11,189 shares during the period. Boston Partners increased its position in Gladstone Capital Corporation by 0.3% during the 2nd quarter. Boston Partners now owns 84,655 shares of the investment management company’s stock valued at $832,000 after purchasing an additional 225 shares during the period. HL Financial Services LLC increased its position in Gladstone Capital Corporation by 71.6% during the 2nd quarter. HL Financial Services LLC now owns 19,176 shares of the investment management company’s stock valued at $189,000 after purchasing an additional 8,000 shares during the period. Eagle Global Advisors LLC increased its position in Gladstone Capital Corporation by 2.8% during the 2nd quarter. Eagle Global Advisors LLC now owns 14,880 shares of the investment management company’s stock valued at $146,000 after purchasing an additional 400 shares during the period. Finally, Janney Montgomery Scott LLC increased its position in Gladstone Capital Corporation by 3.5% during the 2nd quarter. Janney Montgomery Scott LLC now owns 25,840 shares of the investment management company’s stock valued at $254,000 after purchasing an additional 870 shares during the period. 14.42% of the stock is currently owned by institutional investors and hedge funds.
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In other Gladstone Capital Corporation news, President Robert L. Marcotte bought 4,000 shares of Gladstone Capital Corporation stock in a transaction on Thursday, August 31st. The shares were acquired at an average price of $9.22 per share, for a total transaction of $36,880.00. Following the completion of the purchase, the president now directly owns 370,720 shares in the company, valued at approximately $3,418,038.40. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 6.45% of the company’s stock.
A number of research analysts have issued reports on the stock. Wedbush assumed coverage on shares of Gladstone Capital Corporation in a research report on Wednesday, September 27th. They set a “neutral” rating and a $9.40 price objective on the stock. National Securities reissued a “sell” rating and set a $8.00 price objective on shares of Gladstone Capital Corporation in a research report on Tuesday, September 26th. BidaskClub raised shares of Gladstone Capital Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Finally, Zacks Investment Research downgraded shares of Gladstone Capital Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $9.16.
Gladstone Capital Corporation (NASDAQ GLAD) opened at 9.54 on Friday. The firm’s 50-day moving average is $9.27 and its 200-day moving average is $9.63. Gladstone Capital Corporation has a 12 month low of $7.33 and a 12 month high of $10.12.
Gladstone Capital Corporation (NASDAQ:GLAD) last released its earnings results on Wednesday, August 2nd. The investment management company reported $0.21 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.21. Gladstone Capital Corporation had a return on equity of 9.88% and a net margin of 85.01%. The business had revenue of $9.63 million for the quarter, compared to analyst estimates of $10.30 million. On average, equities analysts anticipate that Gladstone Capital Corporation will post $0.78 EPS for the current year.
The firm also recently announced a monthly dividend, which was paid on Friday, September 29th. Shareholders of record on Wednesday, September 20th were paid a $0.07 dividend. The ex-dividend date was Tuesday, September 19th. This represents a $0.84 dividend on an annualized basis and a yield of 8.81%. Gladstone Capital Corporation’s payout ratio is 62.22%.
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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