Gladstone Capital (NASDAQ:GLAD – Get Free Report) announced its quarterly earnings results on Tuesday. The investment management company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.08, FiscalAI reports. Gladstone Capital had a net margin of 45.15% and a return on equity of 9.79%. The company had revenue of $24.50 million during the quarter, compared to the consensus estimate of $24.90 million.
Gladstone Capital Price Performance
Shares of NASDAQ:GLAD traded up $0.29 during mid-day trading on Tuesday, reaching $19.31. 176,156 shares of the company traded hands, compared to its average volume of 196,345. The company’s 50 day moving average price is $19.27 and its 200-day moving average price is $18.99. The firm has a market cap of $436.27 million, a PE ratio of 10.55 and a beta of 0.92. Gladstone Capital has a 52 week low of $16.54 and a 52 week high of $27.59.
Gladstone Capital Dividend Announcement
The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, September 21st will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, September 21st. This represents a c) dividend on an annualized basis and a dividend yield of 9.3%. Gladstone Capital’s payout ratio is 98.36%.
Analyst Upgrades and Downgrades
View Our Latest Research Report on GLAD
Hedge Funds Weigh In On Gladstone Capital
A number of hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its stake in Gladstone Capital by 1.6% in the 1st 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 last quarter. Marshall Wace LLP boosted its position in shares of Gladstone Capital by 1.0% during the 4th quarter. Marshall Wace LLP now owns 110,304 shares of the investment management company’s stock valued at $2,279,000 after acquiring an additional 1,041 shares during the last quarter. Ausdal Financial Partners Inc. boosted its position in shares of Gladstone Capital by 4.3% during the 4th quarter. Ausdal Financial Partners Inc. now owns 29,896 shares of the investment management company’s stock valued at $618,000 after acquiring an additional 1,222 shares during the last quarter. Quantbot Technologies LP grew its holdings in shares of Gladstone Capital by 52.7% in the second quarter. Quantbot Technologies LP now owns 4,272 shares of the investment management company’s stock valued at $115,000 after purchasing an additional 1,474 shares in the last quarter. Finally, WFA of San Diego LLC bought a new stake in Gladstone Capital in the second quarter worth $42,000. 10.72% of the stock is currently owned by institutional investors.
Gladstone Capital Company Profile
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.
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