Gladstone Capital (GLAD) Upgraded to “Hold” by Zacks Investment Research

Gladstone Capital (NASDAQ:GLAD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.

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 equities research analysts also recently commented on the company. BidaskClub raised Gladstone Capital from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 11th. National Securities downgraded Gladstone Capital from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $8.00 to $7.00 in a research report on Tuesday, November 6th. Finally, ValuEngine downgraded Gladstone Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, November 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $9.00.

Shares of NASDAQ:GLAD opened at $8.50 on Thursday. The firm has a market capitalization of $239.44 million, a PE ratio of 9.88 and a beta of 0.98. The company has a quick ratio of 3.67, a current ratio of 3.67 and a debt-to-equity ratio of 0.46. Gladstone Capital has a 52 week low of $7.80 and a 52 week high of $9.92.

Gladstone Capital (NASDAQ:GLAD) last announced its quarterly earnings data on Wednesday, November 14th. The investment management company reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.01). The business had revenue of $11.26 million during the quarter, compared to analysts’ expectations of $12.00 million. Gladstone Capital had a net margin of 41.00% and a return on equity of 9.83%. On average, research analysts anticipate that Gladstone Capital will post 0.85 earnings per share for the current fiscal year.

In other news, President Robert L. Marcotte purchased 10,000 shares of the stock in a transaction on Tuesday, November 20th. The stock was purchased at an average price of $8.71 per share, with a total value of $87,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Robert L. Marcotte purchased 12,000 shares of the stock in a transaction on Friday, December 7th. The shares were purchased at an average cost of $8.33 per share, with a total value of $99,960.00. Following the transaction, the president now owns 460,037 shares of the company’s stock, valued at approximately $3,832,108.21. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 22,582 shares of company stock valued at $192,077. 5.89% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of GLAD. Millennium Management LLC purchased a new stake in Gladstone Capital during the first quarter valued at about $568,000. Legal & General Group Plc grew its position in Gladstone Capital by 5.4% during the second quarter. Legal & General Group Plc now owns 100,746 shares of the investment management company’s stock valued at $909,000 after acquiring an additional 5,203 shares during the period. Van ECK Associates Corp grew its position in Gladstone Capital by 2.7% during the second quarter. Van ECK Associates Corp now owns 202,100 shares of the investment management company’s stock valued at $1,819,000 after acquiring an additional 5,304 shares during the period. California Public Employees Retirement System grew its position in Gladstone Capital by 18.5% during the second 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. Finally, Advisors Asset Management Inc. grew its position in Gladstone Capital by 42.8% during the second quarter. Advisors Asset Management Inc. now owns 308,212 shares of the investment management company’s stock valued at $2,774,000 after acquiring an additional 92,447 shares during the period. 11.87% of the stock is owned by hedge funds and other institutional investors.

Gladstone Capital Company Profile

Gladstone Capital Corporation is a private equity and a venture capital fund specializing in lower middle market, growth capital, add on acquisitions, 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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