Gladstone Capital (NASDAQ:GLAD) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Gladstone Capital (NASDAQ:GLAD) released its quarterly earnings data on Wednesday. The investment management company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02, Zacks reports. The company had revenue of $24.51 million during the quarter, compared to the consensus estimate of $24.70 million. Gladstone Capital had a return on equity of 9.48% and a net margin of 64.36%.

Gladstone Capital Trading Up 2.1%

Shares of GLAD stock opened at $20.44 on Thursday. The stock has a 50 day moving average of $20.82 and a 200 day moving average of $22.36. The stock has a market cap of $461.74 million, a P/E ratio of 7.98 and a beta of 0.94. Gladstone Capital has a twelve month low of $18.76 and a twelve month high of $29.54.

Gladstone Capital Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 23rd will be given a dividend of $0.15 per share. The ex-dividend date is Monday, March 23rd. This represents a c) dividend on an annualized basis and a yield of 8.8%. Gladstone Capital’s payout ratio is currently 70.31%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Wall Street Zen raised Gladstone Capital from a “sell” rating to a “hold” rating in a report on Saturday, December 20th. B. Riley raised shares of Gladstone Capital from a “neutral” rating to a “buy” rating and reduced their target price for the company from $27.00 to $22.00 in a report on Wednesday, November 19th. Oppenheimer upgraded Gladstone Capital from a “market perform” rating to an “outperform” rating and dropped their price objective for the stock from $26.00 to $22.00 in a report on Wednesday, November 19th. Zacks Research upgraded shares of Gladstone Capital from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Gladstone Capital in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $22.00.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GLAD. Goldman Sachs Group Inc. boosted its holdings in Gladstone Capital by 1.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 28,853 shares of the investment management company’s stock valued at $792,000 after purchasing an additional 456 shares during the last quarter. Focus Partners Wealth purchased a new stake in shares of Gladstone Capital in the 1st quarter valued at $220,000. Cetera Investment Advisers grew its stake in shares of Gladstone Capital by 43.0% in the second quarter. Cetera Investment Advisers now owns 21,217 shares of the investment management company’s stock worth $572,000 after acquiring an additional 6,385 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of Gladstone Capital in the 2nd quarter valued at $46,000. Finally, Quantbot Technologies LP raised its position in shares of Gladstone Capital by 52.7% during the 2nd quarter. Quantbot Technologies LP now owns 4,272 shares of the investment management company’s stock worth $115,000 after acquiring an additional 1,474 shares in the last quarter. 10.72% of the stock is owned by institutional investors and hedge funds.

Gladstone Capital Company Profile

Gladstone Capital Corporation is a publicly traded business development company (BDC) that provides debt and equity financing solutions to U.S. lower middle-market companies. Operating under an external management agreement with Gladstone Management L.P., the firm offers senior secured loans, mezzanine debt and equity investments designed to support growth initiatives, acquisitions and recapitalizations. Through its focus on privately held businesses, Gladstone Capital seeks to construct a diversified portfolio across various industry sectors.

Since its formation in 2003, Gladstone Capital has developed a track record of working closely with management teams and business owners to meet their capital needs.