Gladstone Capital (NASDAQ:GLAD) Announces Earnings Results, Beats Expectations By $0.14 EPS
by Teresa Graham · The Cerbat GemGladstone Capital (NASDAQ:GLAD – Get Free Report) posted its quarterly earnings data on Wednesday. The investment management company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.14, FiscalAI reports. The business had revenue of $25.99 million during the quarter, compared to the consensus estimate of $25.19 million. Gladstone Capital had a return on equity of 9.56% and a net margin of 39.42%.
Gladstone Capital Trading Down 1.4%
Gladstone Capital stock traded down $0.27 during trading hours on Wednesday, reaching $19.21. 244,946 shares of the company’s stock were exchanged, compared to its average volume of 212,461. 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’s 50 day simple moving average is $18.17 and its 200 day simple moving average is $19.44. Gladstone Capital has a twelve month low of $16.54 and a twelve month high of $29.50. The firm has a market capitalization of $433.95 million, a PE ratio of 12.08 and a beta of 0.92.
Gladstone Capital Dividend Announcement
The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd will be issued a dividend of $0.15 per share. This represents a c) dividend on an annualized basis and a yield of 9.4%. The ex-dividend date is Tuesday, June 23rd. Gladstone Capital’s dividend payout ratio (DPR) is presently 113.21%.
Institutional Trading of Gladstone Capital
A number of large investors have recently bought and sold shares of the business. UBS Group AG grew its holdings in Gladstone Capital by 37.5% during the 3rd quarter. UBS Group AG now owns 230,218 shares of the investment management company’s stock worth $5,035,000 after acquiring an additional 62,738 shares during the period. Marshall Wace LLP grew its holdings in Gladstone Capital by 1.0% during 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 grew its holdings in Gladstone Capital by 39.1% during the 3rd quarter. Two Sigma Investments LP now owns 89,519 shares of the investment management company’s stock worth $1,958,000 after acquiring an additional 25,181 shares during the period. Advisors Asset Management Inc. grew its holdings 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 worth $1,341,000 after acquiring an additional 1,727 shares during the period. Finally, Raymond James Financial Inc. grew its holdings in 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 worth $1,296,000 after acquiring an additional 15,681 shares during the period. 10.72% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the company. Wall Street Zen upgraded Gladstone Capital from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Jefferies Financial Group set a $21.00 price objective on Gladstone Capital and gave the company a “hold” rating in a report on Friday, February 6th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Gladstone Capital has an average rating of “Hold” and a consensus target price of $21.67.
Read Our Latest Analysis on Gladstone Capital
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.