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. “
Separately, National Securities restated a neutral rating and issued a $7.00 price target on shares of Gladstone Capital Corp. in a research note on Friday, August 5th. Five research analysts have rated the stock with a hold rating, The company presently has an average rating of Hold and an average price target of $7.31.
Shares of Gladstone Capital Corp. (NASDAQ:GLAD) traded up 0.024% during midday trading on Wednesday, hitting $8.182. 6,981 shares of the company were exchanged. Gladstone Capital Corp. has a one year low of $4.71 and a one year high of $9.09. The company’s 50 day moving average price is $8.33 and its 200 day moving average price is $7.71.
Gladstone Capital Corp. (NASDAQ:GLAD) last posted its quarterly earnings results on Wednesday, August 3rd. The investment management company reported $0.21 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.21. Gladstone Capital Corp. had a positive return on equity of 10.58% and a negative net margin of 35.47%. On average, equities research analysts anticipate that Gladstone Capital Corp. will post $0.84 earnings per share for the current fiscal year.
The firm also recently announced a monthly dividend, which was paid on Friday, September 30th. Stockholders of record on Wednesday, September 21st were paid a dividend of $0.07 per share. The ex-dividend date was Monday, September 19th. This represents a $0.84 annualized dividend and a dividend yield of 10.27%. Gladstone Capital Corp.’s dividend payout ratio is currently -147.37%.
In other Gladstone Capital Corp. news, President Robert L. Marcotte bought 8,000 shares of Gladstone Capital Corp. stock in a transaction dated Thursday, August 11th. The stock was bought at an average cost of $8.35 per share, for a total transaction of $66,800.00. Following the purchase, the president now owns 286,758 shares of the company’s stock, valued at approximately $2,394,429.30. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Terry Lee Brubaker sold 20,876 shares of Gladstone Capital Corp. stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $8.39, for a total value of $175,149.64. Following the transaction, the chief operating officer now owns 109,610 shares of the company’s stock, valued at $919,627.90. The disclosure for this sale can be found here. Insiders own 6.49% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. UBS Group AG increased its position in shares of Gladstone Capital Corp. by 3.1% in the first quarter. UBS Group AG now owns 422,393 shares of the investment management company’s stock valued at $3,147,000 after buying an additional 12,855 shares in the last quarter. LPL Financial LLC increased its position in shares of Gladstone Capital Corp. by 4.3% in the first quarter. LPL Financial LLC now owns 290,023 shares of the investment management company’s stock valued at $2,117,000 after buying an additional 11,897 shares in the last quarter. BlackRock Group LTD increased its position in shares of Gladstone Capital Corp. by 14.6% in the second quarter. BlackRock Group LTD now owns 116,902 shares of the investment management company’s stock valued at $846,000 after buying an additional 14,874 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Gladstone Capital Corp. by 12.9% in the second quarter. Van ECK Associates Corp now owns 108,111 shares of the investment management company’s stock valued at $783,000 after buying an additional 12,335 shares in the last quarter. Finally, Boston Partners increased its position in shares of Gladstone Capital Corp. by 2.1% in the second quarter. Boston Partners now owns 74,668 shares of the investment management company’s stock valued at $541,000 after buying an additional 1,530 shares in the last quarter. Institutional investors own 9.34% of the company’s stock.
About Gladstone Capital Corp.
Gladstone Capital Corporation is an externally managed, closed-end and non-diversified management investment company. The Company’s investment objectives are to achieve and grow current income by investing in debt securities of established businesses that will provide earnings and cash flow to pay expenses, which make principal and interest payments on its 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 can grow over time to permit customers to sell its equity investments for capital gains.
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