Zacks Investment Research Upgrades Gladstone Capital (GLAD) to “Hold”
Gladstone Capital (NASDAQ:GLAD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors 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 brokerages have also issued reports on GLAD. National Securities restated a “sell” rating and issued a $8.00 target price on shares of Gladstone Capital in a research note on Tuesday, September 26th. Wedbush initiated coverage on Gladstone Capital in a research note on Wednesday, September 27th. They issued a “neutral” rating and a $9.40 target price for the company. Finally, Ladenburg Thalmann Financial Services initiated coverage on Gladstone Capital in a research note on Friday, October 6th. They issued a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. Gladstone Capital presently has an average rating of “Hold” and an average target price of $9.16.
Shares of Gladstone Capital (NASDAQ GLAD) traded up $0.08 during mid-day trading on Wednesday, reaching $9.79. The company had a trading volume of 95,354 shares, compared to its average volume of 132,989. The stock has a market cap of $258.60, a price-to-earnings ratio of 11.56 and a beta of 1.21. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.33 and a quick ratio of 4.33. Gladstone Capital has a one year low of $8.38 and a one year high of $10.12.
Gladstone Capital (NASDAQ:GLAD) last issued its earnings results on Monday, November 20th. The investment management company reported $0.21 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.21. The company had revenue of $10.83 million during the quarter, compared to analyst estimates of $10.72 million. Gladstone Capital had a return on equity of 9.94% and a net margin of 43.78%. equities analysts predict that Gladstone Capital will post 0.86 earnings per share for the current year.
In related news, President Robert L. Marcotte acquired 8,000 shares of Gladstone Capital stock in a transaction on Wednesday, November 29th. The stock was acquired at an average price of $9.82 per share, for a total transaction of $78,560.00. Following the purchase, the president now owns 381,770 shares of the company’s stock, valued at approximately $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 acquired 6,134 shares of Gladstone Capital stock in a transaction on Monday, November 27th. The shares were bought 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 in the company, valued at approximately $132,331.43. The disclosure for this purchase can be found here. Company insiders own 6.45% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GLAD. Bank of Montreal Can purchased a new position in shares of Gladstone Capital during the 2nd quarter valued at about $1,946,000. Mckinley Capital Management LLC Delaware purchased a new position in shares of Gladstone Capital during the 2nd quarter valued at about $1,200,000. GSA Capital Partners LLP raised its stake in shares of Gladstone Capital by 193.0% during the 3rd quarter. GSA Capital Partners LLP now owns 89,073 shares of the investment management company’s stock valued at $846,000 after buying an additional 58,673 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Gladstone Capital during the 2nd quarter valued at about $542,000. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Gladstone Capital during the 2nd quarter valued at about $415,000. Institutional investors and hedge funds 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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