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

Gladstone Capital Corporation (NASDAQ:GLAD) has earned a consensus recommendation of “Hold” from the six brokerages that are covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $21.6667.

A number of research firms recently issued reports on GLAD. Zacks Research upgraded shares of Gladstone Capital from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. Jefferies Financial Group set a $21.00 target price on shares of Gladstone Capital and gave the company a “hold” rating in a research report on Friday, February 6th. Wall Street Zen upgraded shares of Gladstone Capital from a “sell” rating to a “hold” rating in a research note on Saturday, December 20th. B. Riley Financial upgraded Gladstone Capital from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $27.00 to $22.00 in a research note on Wednesday, November 19th. Finally, Oppenheimer raised Gladstone Capital from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from $26.00 to $22.00 in a report on Wednesday, November 19th.

Gladstone Capital Stock Performance

GLAD stock opened at $18.20 on Monday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.45. The firm has a market cap of $411.14 million, a PE ratio of 11.45 and a beta of 0.95. The business has a 50 day moving average of $19.96 and a 200-day moving average of $21.23. Gladstone Capital has a 12-month low of $17.91 and a 12-month high of $29.50.

Gladstone Capital (NASDAQ:GLAD) last issued its quarterly earnings results on Wednesday, February 4th. The investment management company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $24.51 million for the quarter, compared to analyst estimates of $24.70 million. Gladstone Capital had a return on equity of 9.56% and a net margin of 39.42%. As a group, sell-side analysts expect that Gladstone Capital will post 2.03 earnings per share for the current year.

Gladstone Capital Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, March 23rd. This represents a c) annualized dividend and a dividend yield of 9.9%. Gladstone Capital’s dividend payout ratio is presently 113.21%.

Institutional Investors Weigh In On Gladstone Capital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its position in Gladstone Capital by 1.6% during the first quarter. Goldman Sachs Group Inc. now owns 28,853 shares of the investment management company’s stock worth $792,000 after purchasing an additional 456 shares during the period. Focus Partners Wealth purchased a new stake in shares of Gladstone Capital during the 1st quarter valued at approximately $220,000. CWM LLC bought a new position in Gladstone Capital in the 2nd quarter worth approximately $32,000. First Horizon Advisors Inc. purchased a new position in Gladstone Capital in the 2nd quarter valued at approximately $44,000. Finally, Allworth Financial LP bought a new stake in Gladstone Capital during the 2nd quarter valued at $46,000. 10.72% of the stock is currently owned by institutional investors.

About Gladstone Capital

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.