Gladstone Capital Corp. (GLAD) Issues Quarterly Earnings Results
Gladstone Capital Corp. (NASDAQ:GLAD) posted its quarterly earnings data on Tuesday. The investment management company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.00. Gladstone Capital Corp. had a positive return on equity of 10.58% and a negative net margin of 35.47%.
Shares of Gladstone Capital Corp. (NASDAQ:GLAD) opened at 8.13 on Wednesday. The stock’s 50 day moving average price is $8.05 and its 200 day moving average price is $7.86. The firm’s market capitalization is $189.79 million. Gladstone Capital Corp. has a 12-month low of $4.71 and a 12-month high of $8.89.
The business also recently announced a monthly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Thursday, November 17th will be issued a dividend of $0.07 per share. This represents a $0.84 annualized dividend and a dividend yield of 10.33%. The ex-dividend date of this dividend is Tuesday, November 15th. Gladstone Capital Corp.’s dividend payout ratio (DPR) is currently -147.37%.
GLAD has been the topic of several recent research reports. Zacks Investment Research upgraded Gladstone Capital Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, October 5th. National Securities reissued a “neutral” rating and set a $8.00 target price (up from $7.00) on shares of Gladstone Capital Corp. in a report on Wednesday, October 26th. Five research analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and an average price target of $7.56.
In other Gladstone Capital Corp. news, President Robert L. Marcotte acquired 25,000 shares of the business’s stock in a transaction on Tuesday, October 25th. The shares were acquired at an average price of $7.98 per share, with a total value of $199,500.00. Following the completion of the transaction, the president now owns 321,950 shares in the company, valued at $2,569,161. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 6.49% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Koshinski Asset Management Inc. boosted its position in Gladstone Capital Corp. by 0.6% in the third quarter. Koshinski Asset Management Inc. now owns 19,748 shares of the investment management company’s stock valued at $161,000 after buying an additional 122 shares in the last quarter. TCI Wealth Advisors Inc. raised its stake in shares of Gladstone Capital Corp. by 1.9% in the second quarter. TCI Wealth Advisors Inc. now owns 15,534 shares of the investment management company’s stock valued at $112,000 after buying an additional 289 shares during the last quarter. Sigma Planning Corp raised its stake in shares of Gladstone Capital Corp. by 2.4% in the third quarter. Sigma Planning Corp now owns 29,937 shares of the investment management company’s stock valued at $243,000 after buying an additional 714 shares during the last quarter. DnB Asset Management AS raised its stake in shares of Gladstone Capital Corp. by 1.8% in the third quarter. DnB Asset Management AS now owns 45,701 shares of the investment management company’s stock valued at $372,000 after buying an additional 800 shares during the last quarter. Finally, Boston Partners raised its stake in shares of Gladstone Capital Corp. by 2.1% in the second quarter. Boston Partners now owns 74,668 shares of the investment management company’s stock valued at $541,000 after buying an additional 1,530 shares during the last quarter. 8.19% of the stock is currently owned by institutional investors and hedge funds.
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Gladstone Capital Corp. Company Profile
Gladstone Capital Corporation is an externally managed, closed-end and non-diversified management investment company. The Company’s investment objectives are to achieve and grow current income by investing in debt securities of established businesses that will provide earnings and cash flow to pay expenses, which make principal and interest payments on its 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 can grow over time to permit customers to sell its equity investments for capital gains.
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