Wedbush Analysts Increase Earnings Estimates for Gladstone Capital Co. (GLAD)
Gladstone Capital Co. (NASDAQ:GLAD) – Research analysts at Wedbush lifted their Q3 2018 earnings per share estimates for shares of Gladstone Capital in a note issued to investors on Wednesday. Wedbush analyst H. Coffey now forecasts that the investment management company will post earnings per share of $0.22 for the quarter, up from their prior estimate of $0.21. Wedbush also issued estimates for Gladstone Capital’s Q4 2018 earnings at $0.23 EPS, FY2018 earnings at $0.87 EPS, Q1 2019 earnings at $0.23 EPS, Q2 2019 earnings at $0.23 EPS, Q3 2019 earnings at $0.23 EPS, Q4 2019 earnings at $0.24 EPS, FY2019 earnings at $0.93 EPS and FY2020 earnings at $0.97 EPS.
Gladstone Capital (NASDAQ:GLAD) last released its quarterly earnings data on Monday, February 5th. The investment management company reported $0.21 EPS for the quarter, hitting the consensus estimate of $0.21. The company had revenue of $10.86 million for the quarter, compared to the consensus estimate of $10.72 million. Gladstone Capital had a return on equity of 9.97% and a net margin of 58.48%.
Gladstone Capital (GLAD) opened at $9.05 on Thursday. The company has a market capitalization of $239.96, a price-to-earnings ratio of 10.06 and a beta of 1.10. Gladstone Capital has a fifty-two week low of $7.80 and a fifty-two week high of $10.12. The company has a current ratio of 5.96, a quick ratio of 4.33 and a debt-to-equity ratio of 0.58.
The business also recently declared a monthly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Friday, February 16th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 9.28%. Gladstone Capital’s dividend payout ratio is presently 93.33%.
In related news, President Robert L. Marcotte purchased 8,200 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were acquired at an average cost of $9.40 per share, for a total transaction of $77,080.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Walter H. Wilkinson purchased 6,134 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was bought at an average price of $9.79 per share, for a total transaction of $60,051.86. Following the completion of the acquisition, 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. Insiders bought a total of 36,063 shares of company stock worth $339,855 over the last quarter. Company insiders own 5.89% of the company’s stock.
Several large investors have recently made changes to their positions in GLAD. OxFORD Asset Management LLP purchased a new position in Gladstone Capital during the 3rd quarter worth $151,000. D.A. Davidson & CO. grew its stake in Gladstone Capital by 142.9% during the 3rd quarter. D.A. Davidson & CO. now owns 22,271 shares of the investment management company’s stock worth $211,000 after buying an additional 13,104 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Gladstone Capital during the 2nd quarter worth $299,000. Goldman Sachs Group Inc. purchased a new position in Gladstone Capital during the 2nd quarter worth $415,000. Finally, Janney Montgomery Scott LLC grew its stake in Gladstone Capital by 68.5% during the 3rd quarter. Janney Montgomery Scott LLC now owns 43,549 shares of the investment management company’s stock worth $414,000 after buying an additional 17,709 shares during the last quarter. Institutional investors and hedge funds own 14.32% 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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