Gladstone Capital Corporation (GLAD) Receives Average Recommendation of “Hold” from Brokerages
Shares of Gladstone Capital Corporation (NASDAQ:GLAD) have earned a consensus rating of “Hold” from the eight research firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $9.16.
GLAD has been the topic of several recent research reports. Zacks Investment Research lowered Gladstone Capital Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. BidaskClub lowered Gladstone Capital Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. National Securities restated a “sell” rating and set a $8.00 price target on shares of Gladstone Capital Corporation in a research report on Monday, August 7th. Wedbush initiated coverage on Gladstone Capital Corporation in a research report on Wednesday, September 27th. They set a “neutral” rating and a $9.40 price target on the stock. Finally, Ladenburg Thalmann Financial Services initiated coverage on Gladstone Capital Corporation in a research report on Friday, October 6th. They issued a “neutral” rating on the stock.
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Shares of Gladstone Capital Corporation (NASDAQ GLAD) opened at 9.77 on Wednesday. Gladstone Capital Corporation has a one year low of $7.33 and a one year high of $10.12. The company has a 50-day moving average price of $9.44 and a 200 day moving average price of $9.67.
Gladstone Capital Corporation (NASDAQ:GLAD) last posted its quarterly earnings results on Wednesday, August 2nd. The investment management company reported $0.21 earnings per share (EPS) for the quarter, hitting the consensus estimate 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. Analysts expect that Gladstone Capital Corporation will post $0.80 EPS for the current fiscal 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 paid a $0.07 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 8.60%. The ex-dividend date is Monday, December 18th. Gladstone Capital Corporation’s payout ratio is presently 62.22%.
In related news, President Robert L. Marcotte acquired 4,000 shares of the stock in a transaction on Thursday, August 31st. The stock was 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 owns 370,720 shares of the company’s stock, valued at $3,418,038.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 6.45% of the company’s stock.
A number of large investors have recently made changes to their positions in GLAD. Legal & General Group Plc raised its stake in Gladstone Capital Corporation by 17.1% during 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 last quarter. UBS Group AG raised its stake in Gladstone Capital Corporation by 20.1% during the first quarter. UBS Group AG now owns 612,522 shares of the investment management company’s stock valued at $5,813,000 after buying an additional 102,605 shares during the last quarter. Koshinski Asset Management Inc. raised its stake in Gladstone Capital Corporation by 3.9% during the second quarter. Koshinski Asset Management Inc. now owns 25,644 shares of the investment management company’s stock valued at $252,000 after buying an additional 966 shares during the last quarter. Bank of Montreal Can purchased a new position in Gladstone Capital Corporation during the second quarter valued at $1,946,000. Finally, Winslow Evans & Crocker Inc. raised its stake in Gladstone Capital Corporation by 39.2% during the second quarter. Winslow Evans & Crocker Inc. now owns 21,300 shares of the investment management company’s stock valued at $209,000 after buying an additional 6,000 shares during the last quarter. Institutional investors and hedge funds own 14.45% of the company’s stock.
About Gladstone Capital Corporation
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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