Gladstone Capital (NASDAQ:GLAD) Issues Earnings Results, Beats Expectations By $0.01 EPS

Gladstone Capital (NASDAQ:GLAD) announced its quarterly earnings data on Tuesday. The investment management company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01, Zacks reports. The firm had revenue of $24.50 million for the quarter, compared to analysts’ expectations of $24.90 million. Gladstone Capital had a net margin of 45.15% and a return on equity of 9.79%.

Gladstone Capital Stock Down 2.9%

Shares of GLAD stock traded down $0.57 during trading on Wednesday, hitting $18.78. The company had a trading volume of 132,365 shares, compared to its average volume of 195,764. Gladstone Capital has a 52 week low of $16.54 and a 52 week high of $27.59. The stock has a market capitalization of $424.24 million, a price-to-earnings ratio of 10.26 and a beta of 0.92. The stock’s 50-day moving average is $19.27 and its two-hundred day moving average is $18.98.

Gladstone Capital Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st will be issued a $0.15 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 9.6%. The ex-dividend date of this dividend is Monday, September 21st. Gladstone Capital’s dividend payout ratio is presently 98.36%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Weiss Ratings upgraded Gladstone Capital from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 2nd. Wall Street Zen upgraded shares of Gladstone Capital from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Finally, B. Riley Financial reiterated a “buy” rating on shares of Gladstone Capital in a research note on Friday, May 8th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $21.67.

Institutional Investors Weigh In On Gladstone Capital

Several institutional investors have recently added to or reduced their stakes in the company. Virtus Investment Advisers LLC boosted its stake in shares of Gladstone Capital by 60.5% during the 4th quarter. Virtus Investment Advisers LLC now owns 28,401 shares of the investment management company’s stock valued at $587,000 after purchasing an additional 10,703 shares in the last quarter. Cetera Investment Advisers lifted its stake in shares of Gladstone Capital by 43.0% in the 2nd quarter. Cetera Investment Advisers now owns 21,217 shares of the investment management company’s stock valued at $572,000 after purchasing an additional 6,385 shares during the period. Qube Research & Technologies Ltd grew its stake in Gladstone Capital by 16.2% in the second quarter. Qube Research & Technologies Ltd now owns 19,184 shares of the investment management company’s stock worth $517,000 after purchasing an additional 2,678 shares during the period. Tudor Investment Corp ET AL bought a new position in Gladstone Capital in the fourth quarter worth $423,000. Finally, Brevan Howard Capital Management LP boosted its holdings in shares of Gladstone Capital by 64.8% during the 2nd quarter. Brevan Howard Capital Management LP now owns 13,887 shares of the investment management company’s stock valued at $375,000 after buying an additional 5,458 shares in the last quarter. Hedge funds and other institutional investors own 10.72% of the company’s stock.

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.