The Zacks Investment Research Downgrades Gladstone Capital Co. (GLAD) to Hold

The Zacks Investment Research Downgrades Gladstone Capital Co. (GLAD) to Hold

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. “

Zacks Investment Research lowered shares of Gladstone Capital Co. (NASDAQ:GLAD) from a buy rating to a hold rating in a report released on Tuesday.

Gladstone Capital (NASDAQ:GLAD) opened at 9.84 on Tuesday. Gladstone Capital has a 52-week low of $6.91 and a 52-week high of $10.12. The company has a 50 day moving average of $9.84 and a 200 day moving average of $9.32. Gladstone Capital (NASDAQ:GLAD) last posted its quarterly earnings results on Wednesday, May 3rd. The investment management company reported $0.21 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.21. Gladstone Capital had a return on equity of 10.15% and a net margin of 53.78%. The company had revenue of $8.79 million for the quarter, compared to analysts’ expectations of $9.78 million. Analysts forecast that Gladstone Capital will post $0.84 EPS for the current fiscal year.

Gladstone Capital (NASDAQ:GLAD) opened at 9.84 on Tuesday. Gladstone Capital has a 52-week low of $6.91 and a 52-week high of $10.12. The company has a 50 day moving average of $9.84 and a 200 day moving average of $9.32. The company also recently disclosed a monthly dividend, which was paid on Wednesday, May 31st. Stockholders of record on Friday, May 19th were issued a dividend of $0.07 per share. The ex-dividend date was Wednesday, May 17th. This represents a $0.84 annualized dividend and a dividend yield of 8.54%. Gladstone Capital’s dividend payout ratio (DPR) is 87.50%.

In other news, President Robert L. Marcotte acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, March 9th. The shares were acquired at an average cost of $8.96 per share, with a total value of $89,600.00. Following the acquisition, the president now directly owns 343,743 shares of the company’s stock, valued at $3,079,937.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. 6.45% of the stock is owned by corporate insiders. Several hedge funds have recently modified their holdings of the company. HL Financial Services LLC purchased a new stake in shares of Gladstone Capital during the first quarter valued at about $106,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Gladstone Capital by 796.4% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,931 shares of the investment management company’s stock valued at $112,000 after buying an additional 10,600 shares during the period. WFG Advisors LP boosted its stake in shares of Gladstone Capital by 2.6% in the first quarter. WFG Advisors LP now owns 12,785 shares of the investment management company’s stock valued at $121,000 after buying an additional 327 shares during the period. First Financial Equity Corporation purchased a new stake in shares of Gladstone Capital during the first quarter valued at about $135,000. Finally, Eagle Global Advisors LLC purchased a new stake in shares of Gladstone Capital during the first quarter valued at about $137,000. 8.80% of the stock is currently owned by institutional investors and hedge funds.

About Gladstone Capital 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:GLAD”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Get a free copy of the Zacks research report on Gladstone Capital (GLAD) For more information about research offerings from Zacks Investment Research, visit Zacks.com

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