Gladstone Capital (NASDAQ:GLAD) Posts Earnings Results, Beats Expectations By $0.08 EPS

Gladstone Capital (NASDAQ:GLAD) posted its quarterly earnings data on Tuesday. The investment management company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08, FiscalAI reports. The firm had revenue of $24.50 million during the quarter, compared to analysts’ expectations of $24.90 million. Gladstone Capital had a return on equity of 9.79% and a net margin of 45.15%.

Gladstone Capital Stock Up 1.7%

Shares of NASDAQ:GLAD traded up $0.33 on Tuesday, reaching $19.35. 175,100 shares of the company’s stock were exchanged, compared to its average volume of 195,965. The business’s 50-day moving average is $19.27 and its two-hundred day moving average is $18.99. Gladstone Capital has a fifty-two week low of $16.54 and a fifty-two week high of $27.59. The firm has a market capitalization of $437.17 million, a price-to-earnings ratio of 10.57 and a beta of 0.92.

Gladstone Capital Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, September 21st. This represents a c) annualized dividend and a yield of 9.3%. Gladstone Capital’s payout ratio is presently 98.36%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. B. Riley Financial reissued a “buy” rating on shares of Gladstone Capital in a research report on Friday, May 8th. Weiss Ratings upgraded Gladstone Capital from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 2nd. Finally, Wall Street Zen upgraded Gladstone Capital from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Gladstone Capital presently has a consensus rating of “Hold” and an average price target of $21.67.

Institutional Trading of Gladstone Capital

Large investors have recently added to or reduced their stakes in the business. UBS Group AG increased its holdings in shares of Gladstone Capital by 37.5% during the third quarter. UBS Group AG now owns 230,218 shares of the investment management company’s stock valued at $5,035,000 after purchasing an additional 62,738 shares during the period. Marshall Wace LLP lifted its stake in shares of Gladstone Capital by 1.0% in the 4th quarter. Marshall Wace LLP now owns 110,304 shares of the investment management company’s stock worth $2,279,000 after acquiring an additional 1,041 shares during the period. Two Sigma Investments LP increased its stake in shares of Gladstone Capital by 39.1% during the third quarter. Two Sigma Investments LP now owns 89,519 shares of the investment management company’s stock valued at $1,958,000 after acquiring an additional 25,181 shares during the period. Advisors Asset Management Inc. boosted its stake in Gladstone Capital by 2.7% during the 4th quarter. Advisors Asset Management Inc. now owns 64,909 shares of the investment management company’s stock valued at $1,341,000 after purchasing an additional 1,727 shares in the last quarter. Finally, Raymond James Financial Inc. increased its position in shares of Gladstone Capital by 36.0% during the 3rd quarter. Raymond James Financial Inc. now owns 59,261 shares of the investment management company’s stock valued at $1,296,000 after purchasing an additional 15,681 shares during the period. 10.72% of the stock is currently owned by institutional investors and hedge funds.

Gladstone Capital Company Profile

Gladstone Capital Corporation is a publicly traded business development company (BDC) that provides debt and equity financing solutions to U.S. lower middle-market companies. Operating under an external management agreement with Gladstone Management L.P., the firm offers senior secured loans, mezzanine debt and equity investments designed to support growth initiatives, acquisitions and recapitalizations. Through its focus on privately held businesses, Gladstone Capital seeks to construct a diversified portfolio across various industry sectors.

Since its formation in 2003, Gladstone Capital has developed a track record of working closely with management teams and business owners to meet their capital needs.