Gladstone Capital Corporation (NASDAQ:GLAD) Receives Consensus Recommendation of “Hold” from Brokerages

Gladstone Capital Corporation (NASDAQ:GLAD) has been assigned a consensus rating of “Hold” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $21.6667.

A number of brokerages have commented on GLAD. Weiss Ratings upgraded Gladstone Capital from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday. Wall Street Zen raised shares of Gladstone Capital from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Finally, B. Riley Financial restated a “buy” rating on shares of Gladstone Capital in a report on Friday, May 8th.

Gladstone Capital Price Performance

GLAD opened at $19.54 on Friday. The stock has a fifty day moving average of $19.13 and a 200-day moving average of $19.19. The firm has a market capitalization of $441.41 million, a P/E ratio of 10.68 and a beta of 0.92. Gladstone Capital has a 12-month low of $16.54 and a 12-month high of $29.50.

Gladstone Capital (NASDAQ:GLAD) last issued its quarterly earnings results on Wednesday, May 6th. The investment management company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. The business had revenue of $25.99 million for the quarter, compared to the consensus estimate of $25.19 million. Gladstone Capital had a return on equity of 9.79% and a net margin of 45.15%. On average, analysts expect that Gladstone Capital will post 2.01 earnings per share for the current fiscal year.

Gladstone Capital Announces Dividend

The business also recently announced a monthly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were given a $0.15 dividend. The ex-dividend date was Tuesday, June 23rd. This represents a c) dividend on an annualized basis and a yield of 9.2%. Gladstone Capital’s dividend payout ratio is presently 98.36%.

Hedge Funds Weigh In On Gladstone Capital

Several institutional investors and hedge funds have recently modified their holdings of GLAD. WFA of San Diego LLC purchased a new stake in shares of Gladstone Capital during the second quarter worth $42,000. JPMorgan Chase & Co. purchased a new position in Gladstone Capital in the second quarter valued at about $46,000. Garner Asset Management Corp purchased a new position in Gladstone Capital in the fourth quarter valued at about $36,000. Larson Financial Group LLC increased its position in Gladstone Capital by 380.0% in the 3rd quarter. Larson Financial Group LLC now owns 2,400 shares of the investment management company’s stock worth $52,000 after purchasing an additional 1,900 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new stake in shares of Gladstone Capital during the 3rd quarter worth about $74,000. 10.72% of the stock is currently owned by hedge funds and other institutional investors.

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.