Gladstone Capital Corporation (NASDAQ:GLAD) Sees Large Drop in Short Interest

Gladstone Capital Corporation (NASDAQ:GLAD) was the recipient of a large decline in short interest during the month of February. As of February 27th, there was short interest totaling 422,117 shares, a decline of 14.6% from the February 12th total of 494,337 shares. Currently, 1.9% of the company’s stock are sold short. Based on an average trading volume of 209,138 shares, the days-to-cover ratio is presently 2.0 days. Based on an average trading volume of 209,138 shares, the days-to-cover ratio is presently 2.0 days. Currently, 1.9% of the company’s stock are sold short.

Analysts Set New Price Targets

GLAD has been the topic of several recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Gladstone Capital in a research report on Monday, December 29th. B. Riley Financial raised Gladstone Capital from a “neutral” rating to a “buy” rating and decreased their target price for the company from $27.00 to $22.00 in a research report on Wednesday, November 19th. Zacks Research raised shares of Gladstone Capital from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. Oppenheimer upgraded shares of Gladstone Capital from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $26.00 to $22.00 in a report on Wednesday, November 19th. Finally, Jefferies Financial Group set a $21.00 price objective on Gladstone Capital and gave the company a “hold” rating in a research note on Friday, February 6th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $21.67.

Gladstone Capital Price Performance

Shares of NASDAQ:GLAD opened at $17.51 on Monday. The company has a 50-day moving average price of $19.49 and a two-hundred day moving average price of $20.63. Gladstone Capital has a twelve month low of $17.50 and a twelve month high of $29.50. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $395.55 million, a PE ratio of 11.01 and a beta of 0.95.

Gladstone Capital (NASDAQ:GLAD) last released its quarterly earnings data on Wednesday, February 4th. The investment management company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. Gladstone Capital had a net margin of 39.42% and a return on equity of 9.56%. The company had revenue of $24.51 million during the quarter, compared to the consensus estimate of $24.70 million. Equities analysts forecast that Gladstone Capital will post 2.03 EPS for the current year.

Gladstone Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 23rd will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, March 23rd. This represents a c) dividend on an annualized basis and a yield of 10.3%. Gladstone Capital’s dividend payout ratio is 113.21%.

Institutional Investors Weigh In On Gladstone Capital

Several hedge funds and other institutional investors have recently modified their holdings of GLAD. Atlantic Union Bankshares Corp purchased a new stake in shares of Gladstone Capital in the third quarter worth about $31,000. Garner Asset Management Corp purchased a new position in Gladstone Capital during the fourth quarter valued at approximately $36,000. Steward Partners Investment Advisory LLC purchased a new position in Gladstone Capital during the second quarter valued at approximately $37,000. WFA of San Diego LLC bought a new stake in Gladstone Capital during the 2nd quarter worth approximately $42,000. Finally, Allworth Financial LP bought a new stake in Gladstone Capital during the 2nd quarter worth approximately $46,000. 10.72% of the stock is currently owned by institutional investors.

About Gladstone Capital

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.