Gladstone Capital (NASDAQ:GLAD) Posts Earnings Results, Misses Estimates By $0.24 EPS

Gladstone Capital (NASDAQ:GLAD) posted its quarterly earnings data on Wednesday. The investment management company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.24), FiscalAI reports. Gladstone Capital had a net margin of 64.36% and a return on equity of 9.48%. The company had revenue of $24.51 million for the quarter, compared to analysts’ expectations of $24.70 million.

Gladstone Capital Price Performance

Gladstone Capital stock traded up $0.42 during trading hours on Wednesday, reaching $20.44. The stock had a trading volume of 230,506 shares, compared to its average volume of 170,790. The company has a fifty day simple moving average of $20.83 and a 200-day simple moving average of $22.37. Gladstone Capital has a 52 week low of $18.76 and a 52 week high of $29.54. The stock has a market cap of $461.80 million, a PE ratio of 7.98 and a beta of 0.94.

Gladstone Capital Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, March 23rd. This represents a c) annualized dividend and a yield of 8.8%. Gladstone Capital’s dividend payout ratio is presently 70.31%.

Institutional Trading of Gladstone Capital

Several large investors have recently modified their holdings of GLAD. Cetera Investment Advisers lifted its holdings in Gladstone Capital by 43.0% in the 2nd quarter. Cetera Investment Advisers now owns 21,217 shares of the investment management company’s stock worth $572,000 after buying an additional 6,385 shares during the period. Brevan Howard Capital Management LP increased its stake 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 valued at $609,000 after buying an additional 13,964 shares during the period. Qube Research & Technologies Ltd raised its holdings in shares of Gladstone Capital by 84.0% during the third quarter. Qube Research & Technologies Ltd now owns 35,293 shares of the investment management company’s stock valued at $772,000 after acquiring an additional 16,109 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Gladstone Capital by 1.6% in the first quarter. Goldman Sachs Group Inc. now owns 28,853 shares of the investment management company’s stock worth $792,000 after acquiring an additional 456 shares during the period. Finally, Raymond James Financial Inc. boosted its holdings in Gladstone Capital by 29.7% in the second quarter. Raymond James Financial Inc. now owns 43,580 shares of the investment management company’s stock valued at $1,175,000 after acquiring an additional 9,985 shares in the last quarter. 10.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on GLAD. Wall Street Zen upgraded Gladstone Capital from a “sell” rating to a “hold” rating in a research report on Saturday, December 20th. Oppenheimer upgraded Gladstone Capital from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from $26.00 to $22.00 in a research report on Wednesday, November 19th. Zacks Research upgraded Gladstone Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Gladstone Capital in a research report on Monday, December 29th. Finally, B. Riley upgraded shares of Gladstone Capital from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $27.00 to $22.00 in a research report on Wednesday, November 19th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $22.00.

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.