Gladstone Capital (NASDAQ:GLAD) Raised to Hold at B. Riley

B. Riley upgraded shares of Gladstone Capital (NASDAQ:GLAD) to a hold rating in a research report sent to investors on Tuesday, Zacks.com reports.

Gladstone Capital Stock Up 0.2 %

GLAD opened at $24.33 on Tuesday. The firm’s 50-day simple moving average is $23.54 and its 200-day simple moving average is $22.88. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.02 and a current ratio of 0.02. Gladstone Capital has a twelve month low of $18.56 and a twelve month high of $25.29. The firm has a market cap of $529.27 million, a price-to-earnings ratio of 8.82 and a beta of 1.26.

Gladstone Capital (NASDAQ:GLAD) last posted its earnings results on Wednesday, August 7th. The investment management company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.04. Gladstone Capital had a net margin of 78.40% and a return on equity of 10.87%. The business had revenue of $25.69 million for the quarter, compared to analyst estimates of $24.69 million. Equities research analysts anticipate that Gladstone Capital will post 2.14 EPS for the current fiscal year.

Gladstone Capital Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be issued a $0.165 dividend. This represents a $1.98 annualized dividend and a dividend yield of 8.14%. The ex-dividend date is Friday, December 20th. Gladstone Capital’s payout ratio is 71.74%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kovack Advisors Inc. lifted its position in Gladstone Capital by 1.2% during the 1st quarter. Kovack Advisors Inc. now owns 69,602 shares of the investment management company’s stock worth $747,000 after buying an additional 856 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in Gladstone Capital during the 2nd quarter worth about $32,000. nVerses Capital LLC acquired a new position in Gladstone Capital during the 2nd quarter worth about $37,000. Atomi Financial Group Inc. lifted its position in Gladstone Capital by 10.4% during the 1st quarter. Atomi Financial Group Inc. now owns 27,748 shares of the investment management company’s stock worth $298,000 after buying an additional 2,612 shares in the last quarter. Finally, National Bank of Canada FI acquired a new position in Gladstone Capital during the 2nd quarter worth about $98,000. Institutional investors and hedge funds own 10.72% of the company’s stock.

Gladstone Capital Company Profile

Gladstone Capital Corporation is a business development company specializing in lower middle market, growth capital, add on acquisitions, change of control, buy & build strategies, debt refinancing, debt investments in senior term loans, revolving loans, secured first and second lien term loans, senior subordinated loans, unitranche loans, junior subordinated loans, and mezzanine loans and equity investments in the form of common stock, preferred stock, limited liability company interests, or warrants.