Gladstone Capital (GLAD) Raised to “Hold” at Zacks Investment Research
Gladstone Capital (NASDAQ:GLAD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
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. “
A number of other research analysts have also recently commented on the company. National Securities restated a “sell” rating and issued a $8.00 target price on shares of Gladstone Capital in a research note on Wednesday, November 22nd. Ladenburg Thalmann Financial Services assumed coverage on Gladstone Capital in a research note on Friday, October 6th. They set a “neutral” rating for the company. Finally, Wedbush assumed coverage on Gladstone Capital in a research note on Wednesday, September 27th. They set a “neutral” rating and a $9.40 price objective for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Gladstone Capital presently has a consensus rating of “Hold” and a consensus target price of $9.16.
Gladstone Capital (NASDAQ:GLAD) last released its earnings results on Monday, November 20th. The investment management company reported $0.21 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.21. The company had revenue of $10.83 million during the quarter, compared to analysts’ expectations of $10.72 million. Gladstone Capital had a return on equity of 9.94% and a net margin of 43.78%. sell-side analysts predict that Gladstone Capital will post 0.86 EPS for the current fiscal year.
In other Gladstone Capital news, President Robert L. Marcotte purchased 8,000 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was purchased at an average price of $9.82 per share, for a total transaction of $78,560.00. Following the completion of the purchase, the president now directly owns 381,770 shares of the company’s stock, valued at $3,748,981.40. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Walter H. Wilkinson purchased 6,134 shares of the firm’s stock in a transaction dated Monday, November 27th. The stock was acquired at an average price of $9.79 per share, with a total value of $60,051.86. Following the purchase, the director now directly owns 13,517 shares of the company’s stock, valued at $132,331.43. The disclosure for this purchase can be found here. 6.45% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of GLAD. CIBC World Markets Inc. purchased a new position in shares of Gladstone Capital in the second quarter worth $114,000. OxFORD Asset Management LLP purchased a new position in shares of Gladstone Capital in the third quarter worth $151,000. Financial Counselors Inc. purchased a new position in shares of Gladstone Capital in the second quarter worth $162,000. HL Financial Services LLC raised its stake in shares of Gladstone Capital by 71.6% in the second quarter. HL Financial Services LLC now owns 19,176 shares of the investment management company’s stock worth $189,000 after purchasing an additional 8,000 shares during the last quarter. Finally, D.A. Davidson & CO. raised its stake in shares of Gladstone Capital by 142.9% in the third quarter. D.A. Davidson & CO. now owns 22,271 shares of the investment management company’s stock worth $211,000 after purchasing an additional 13,104 shares during the last quarter. Hedge funds and other institutional investors own 14.39% of the company’s stock.
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Gladstone Capital 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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