Gladstone Capital (GLAD) Cut to Hold at BidaskClub

BidaskClub lowered shares of Gladstone Capital (NASDAQ:GLAD) from a buy rating to a hold rating in a research report released on Friday.

A number of other research firms have also recently weighed in on GLAD. National Securities reissued a neutral rating and set a $8.00 price objective on shares of Gladstone Capital in a report on Monday, August 6th. ValuEngine raised shares of Gladstone Capital from a sell rating to a hold rating in a report on Monday, July 16th. Zacks Investment Research raised shares of Gladstone Capital from a hold rating to a buy rating and set a $11.00 price objective on the stock in a report on Thursday, August 2nd. Finally, TheStreet raised shares of Gladstone Capital from a c+ rating to a b- rating in a report on Tuesday, July 10th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $9.47.

GLAD stock opened at $9.62 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.93 and a current ratio of 2.93. Gladstone Capital has a twelve month low of $7.80 and a twelve month high of $9.92. The company has a market cap of $266.05 million, a price-to-earnings ratio of 11.45 and a beta of 1.12.

Gladstone Capital (NASDAQ:GLAD) last released its quarterly earnings data on Tuesday, July 31st. The investment management company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. Gladstone Capital had a net margin of 75.38% and a return on equity of 9.84%. The company had revenue of $12.38 million for the quarter, compared to analysts’ expectations of $11.62 million. analysts predict that Gladstone Capital will post 0.86 earnings per share for the current year.

The business also recently disclosed a monthly dividend, which will be paid on Friday, September 28th. Shareholders of record on Wednesday, September 19th will be issued a dividend of $0.07 per share. The ex-dividend date is Tuesday, September 18th. This represents a $0.84 dividend on an annualized basis and a yield of 8.73%. Gladstone Capital’s payout ratio is currently 100.00%.

A number of hedge funds have recently added to or reduced their stakes in the business. California Public Employees Retirement System increased its holdings in shares of Gladstone Capital by 18.5% in the 2nd quarter. California Public Employees Retirement System now owns 44,200 shares of the investment management company’s stock valued at $398,000 after acquiring an additional 6,900 shares during the period. DnB Asset Management AS increased its holdings in shares of Gladstone Capital by 10.3% in the 2nd quarter. DnB Asset Management AS now owns 62,001 shares of the investment management company’s stock valued at $559,000 after acquiring an additional 5,800 shares during the period. Millennium Management LLC acquired a new position in shares of Gladstone Capital in the 1st quarter valued at $568,000. JPMorgan Chase & Co. increased its holdings in shares of Gladstone Capital by 8.0% in the 1st quarter. JPMorgan Chase & Co. now owns 91,192 shares of the investment management company’s stock valued at $785,000 after acquiring an additional 6,792 shares during the period. Finally, Legal & General Group Plc increased its holdings in shares of Gladstone Capital by 15.9% in the 1st quarter. Legal & General Group Plc now owns 95,543 shares of the investment management company’s stock valued at $823,000 after acquiring an additional 13,106 shares during the period. 11.83% of the stock is currently owned by institutional investors.

About Gladstone Capital

Gladstone Capital Corporation is a business development company specializing in debt investments in senior loans, second lien loans, senior subordinated loans, junior subordinated loans, and mezzanine loans and equity investments in the form of common stock, preferred stock, limited liability company interests, or warrants.

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