Gladstone Capital (GLAD) Upgraded to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Gladstone Capital (NASDAQ:GLAD) from a sell rating to a hold rating in a research report released on Wednesday morning.
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. “
GLAD has been the topic of a number of other reports. Wedbush assumed coverage on shares of Gladstone Capital in a research report on Wednesday, September 27th. They issued a neutral rating and a $9.40 target price on the stock. National Securities reaffirmed a sell rating and issued a $8.00 target price on shares of Gladstone Capital in a research report on Tuesday, September 26th. Finally, Ladenburg Thalmann Financial Services assumed coverage on shares of Gladstone Capital in a research report on Friday, October 6th. They set a neutral rating on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $9.16.
Gladstone Capital (NASDAQ GLAD) traded up $0.08 during trading on Wednesday, reaching $9.79. 95,300 shares of the company’s stock were exchanged, compared to its average volume of 132,989. The firm has a market cap of $258.60, a price-to-earnings ratio of 11.56 and a beta of 1.21. Gladstone Capital has a 12 month low of $8.38 and a 12 month high of $10.12. 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 (NASDAQ:GLAD) last announced its quarterly earnings data on Monday, November 20th. The investment management company reported $0.21 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.21. Gladstone Capital had a net margin of 43.78% and a return on equity of 9.94%. The business had revenue of $10.83 million for the quarter, compared to analyst estimates of $10.72 million. analysts predict that Gladstone Capital will post 0.86 EPS for the current year.
The company also recently announced a monthly dividend, which will be paid on Friday, December 29th. Stockholders of record on Tuesday, December 19th will be issued a $0.07 dividend. This represents a $0.84 annualized dividend and a dividend yield of 8.58%. The ex-dividend date of this dividend is Monday, December 18th. Gladstone Capital’s payout ratio is 125.37%.
In other Gladstone Capital news, Director Walter H. Wilkinson bought 6,134 shares of the business’s stock in a transaction on Monday, November 27th. The stock was bought at an average price of $9.79 per share, for a total transaction of $60,051.86. Following the completion of the transaction, the director now owns 13,517 shares in the company, valued at approximately $132,331.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Robert L. Marcotte bought 8,000 shares of the business’s stock in a transaction on Wednesday, November 29th. The shares were acquired at an average price of $9.82 per share, with a total value of $78,560.00. Following the transaction, the president now owns 381,770 shares of the company’s stock, valued at approximately $3,748,981.40. The disclosure for this purchase can be found here. 6.45% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. CIBC World Markets Inc. purchased a new stake in shares of Gladstone Capital during the second quarter worth about $114,000. OxFORD Asset Management LLP purchased a new stake in shares of Gladstone Capital during the third quarter worth about $151,000. Financial Counselors Inc. purchased a new stake in shares of Gladstone Capital during the second quarter worth about $162,000. HL Financial Services LLC grew its holdings in shares of Gladstone Capital by 71.6% during the second quarter. HL Financial Services LLC now owns 19,176 shares of the investment management company’s stock worth $189,000 after buying an additional 8,000 shares in the last quarter. Finally, D.A. Davidson & CO. grew its holdings in shares of 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 buying an additional 13,104 shares in the last quarter. Institutional investors own 14.39% 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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