Gladstone Capital (NASDAQ:GLAD) Posts Earnings Results, Beats Estimates By $0.01 EPS

Gladstone Capital (NASDAQ:GLAD) posted its quarterly earnings results on Monday. The investment management company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01, Zacks reports. Gladstone Capital had a return on equity of 9.43% and a net margin of 84.60%.The company had revenue of $23.94 million for the quarter, compared to analysts’ expectations of $22.72 million.

Gladstone Capital Trading Up 5.8%

NASDAQ GLAD opened at $19.86 on Wednesday. Gladstone Capital has a 12-month low of $18.76 and a 12-month high of $30.43. The company has a fifty day simple moving average of $20.68 and a two-hundred day simple moving average of $24.73. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.06. The stock has a market cap of $443.47 million, a P/E ratio of 5.86 and a beta of 0.98.

Gladstone Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, December 22nd. This represents a c) dividend on an annualized basis and a yield of 9.1%. Gladstone Capital’s dividend payout ratio is presently 53.10%.

Analyst Ratings Changes

GLAD has been the topic of several recent analyst reports. Zacks Research cut shares of Gladstone Capital from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. Weiss Ratings cut shares of Gladstone Capital from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, October 30th. Oppenheimer upgraded shares of Gladstone Capital to an “outperform” rating and set a $22.00 price target on the stock in a research note on Wednesday. Finally, LADENBURG THALM/SH SH upgraded Gladstone Capital to a “hold” rating in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $22.00.

Institutional Trading of Gladstone Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brevan Howard Capital Management LP lifted its holdings in shares of Gladstone Capital by 100.6% during the third quarter. Brevan Howard Capital Management LP now owns 27,851 shares of the investment management company’s stock worth $609,000 after purchasing an additional 13,964 shares during the period. Bank of America Corp DE lifted its holdings in Gladstone Capital by 46.6% in the third quarter. Bank of America Corp DE now owns 11,263 shares of the investment management company’s stock valued at $246,000 after acquiring an additional 3,579 shares during the period. Qube Research & Technologies Ltd boosted its position in Gladstone Capital by 16.2% in the 2nd quarter. Qube Research & Technologies Ltd now owns 19,184 shares of the investment management company’s stock worth $517,000 after purchasing an additional 2,678 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Gladstone Capital during the 2nd quarter worth approximately $227,000. Finally, Cetera Investment Advisers lifted its stake in shares of Gladstone Capital by 43.0% in the 2nd quarter. Cetera Investment Advisers now owns 21,217 shares of the investment management company’s stock valued at $572,000 after purchasing an additional 6,385 shares during the period. Institutional investors and hedge funds own 10.72% of the company’s stock.

Gladstone Capital Company Profile

Gladstone Capital Corporation is a business development company specializing in lower middle market, growth capital, add on acquisitions, change of control, buy & build strategies, debt refinancing, debt investments in senior term loans, revolving loans, secured first and second lien term loans, senior subordinated loans, unitranche loans, junior subordinated loans, and mezzanine loans and equity investments in the form of common stock, preferred stock, limited liability company interests, or warrants.