Gladstone Capital (GLAD) Upgraded to Strong-Buy at BidaskClub

BidaskClub upgraded shares of Gladstone Capital (NASDAQ:GLAD) from a buy rating to a strong-buy rating in a report released on Saturday morning.

GLAD has been the topic of a number of other reports. ValuEngine cut shares of Gladstone Capital from a hold rating to a sell rating in a report on Friday, June 22nd. National Securities reiterated a neutral rating and set a $8.00 target price on shares of Gladstone Capital in a report on Monday, August 6th. Zacks Investment Research cut shares of Gladstone Capital from a hold rating to a sell rating in a report on Wednesday, July 4th. Finally, TheStreet upgraded shares of Gladstone Capital from a c+ rating to a b- rating in a report on Tuesday, July 10th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Gladstone Capital currently has an average rating of Buy and an average target price of $9.47.

Shares of NASDAQ GLAD traded down $0.01 during mid-day trading on Friday, reaching $9.67. The company had a trading volume of 97,933 shares, compared to its average volume of 114,505. The company has a current ratio of 2.93, a quick ratio of 2.93 and a debt-to-equity ratio of 0.48. The stock has a market cap of $269.11 million, a PE ratio of 11.39 and a beta of 1.12. Gladstone Capital has a 52 week low of $7.80 and a 52 week high of $9.92.

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

The firm also recently announced 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. This represents a $0.84 annualized dividend and a yield of 8.69%. The ex-dividend date is Tuesday, September 18th. Gladstone Capital’s payout ratio is 100.00%.

A number of institutional investors have recently modified their holdings of the business. DnB Asset Management AS lifted its position in shares of Gladstone Capital by 10.3% during the second quarter. DnB Asset Management AS now owns 62,001 shares of the investment management company’s stock valued at $559,000 after buying an additional 5,800 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of Gladstone Capital during the first quarter valued at about $568,000. JPMorgan Chase & Co. lifted its position in shares of Gladstone Capital by 8.0% during the first quarter. JPMorgan Chase & Co. now owns 91,192 shares of the investment management company’s stock valued at $785,000 after buying an additional 6,792 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Gladstone Capital by 15.9% during the first quarter. Legal & General Group Plc now owns 95,543 shares of the investment management company’s stock valued at $823,000 after buying an additional 13,106 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Gladstone Capital by 413.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 106,388 shares of the investment management company’s stock valued at $980,000 after buying an additional 85,672 shares during the last quarter. Institutional investors own 13.04% of the company’s stock.

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.

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