Gladstone Capital Corporation (NASDAQ:GLAD) Stock Has Average Price Target of $21.67 According to Brokerages

Shares of Gladstone Capital Corporation (NASDAQ:GLAD) have received an average rating of “Moderate Buy” from the six ratings firms that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $21.67.

A number of brokerages have recently weighed in on GLAD. ATB Cormark Capital Markets upgraded shares of Gladstone Capital to a “moderate buy” rating in a report on Thursday, October 8th. Weiss Ratings downgraded shares of Gladstone Capital from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday.

Hedge Funds Weigh In On Gladstone Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fortress Financial Solutions LLC acquired a new stake in Gladstone Capital during the third quarter worth approximately $263,000. B. Riley Wealth Advisors Inc. grew its position in shares of Gladstone Capital by 66.0% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 225,027 shares of the investment management company’s stock valued at $4,327,000 after buying an additional 89,446 shares during the last quarter. Miller Global Investments LLC raised its stake in Gladstone Capital by 200.8% during the 3rd quarter. Miller Global Investments LLC now owns 48,139 shares of the investment management company’s stock worth $926,000 after acquiring an additional 32,136 shares in the last quarter. Sunbelt Securities Inc. acquired a new stake in Gladstone Capital during the 1st quarter worth $142,000. Finally, Entropy Technologies LP acquired a new stake in Gladstone Capital during the 1st quarter worth $179,000. 10.72% of the stock is owned by institutional investors and hedge funds.

Gladstone Capital Stock Performance

GLAD stock opened at $19.33 on Tuesday. The company’s 50 day moving average price is $19.51 and its 200 day moving average price is $19.20. The firm has a market capitalization of $436.72 million, a price-to-earnings ratio of 9.38 and a beta of 0.94. Gladstone Capital has a fifty-two week low of $16.54 and a fifty-two week high of $21.73.

Gladstone Capital (NASDAQ:GLAD) last issued its quarterly earnings results on Tuesday, August 4th. The investment management company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. Gladstone Capital had a net margin of 50.48% and a return on equity of 9.67%. The company had revenue of $24.50 million during the quarter, compared to the consensus estimate of $24.90 million. Equities analysts forecast that Gladstone Capital will post 1.99 EPS for the current fiscal year.

Gladstone Capital Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Investors of record on Monday, December 21st will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, December 21st. This represents a $1.80 annualized dividend and a yield of 9.3%. Gladstone Capital’s payout ratio is presently 87.38%.

About Gladstone Capital

Gladstone Capital Corporation is a business development company that provides financing to privately held, lower middle-market businesses in the United States. The company seeks to support established companies across a range of industries, typically working with businesses that may require flexible capital solutions to fund growth, acquisitions, recapitalizations, refinancings, or other strategic initiatives.

Its investment portfolio primarily consists of secured debt investments, including first-lien and second-lien loans, as well as subordinated debt and equity investments.