Gladstone Capital (NASDAQ:GLAD) Price Target Raised to $26.00 at Oppenheimer

Key Points

• Gladstone Capital has had its price target increased from $24.00 to $26.00 by Oppenheimer, indicating a potential downside of 2.69% from the current stock price.
• The company reported $0.50 EPS for the last quarter, matching analysts' expectations, with revenues of $21.66 million compared to the consensus estimate of $21.93 million.
• Institutional investors now own 10.72% of Gladstone Capital, with notable increases in stakes from firms like LPL Financial and Advisors Asset Management.

Gladstone Capital (NASDAQ:GLAD - Get Free Report) had its target price boosted by analysts at Oppenheimer from $24.00 to $26.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a "market perform" rating on the investment management company's stock. Oppenheimer's price objective points to a potential downside of 4.87% from the company's current price.

Separately, B. Riley upgraded Gladstone Capital to a "hold" rating in a research note on Monday, June 16th.

Gladstone Capital Price Performance

Shares of NASDAQ:GLAD traded up $0.22 during trading on Wednesday, reaching $27.33. 164,792 shares of the company traded hands, compared to its average volume of 82,802. The company has a quick ratio of 0.04, a current ratio of 0.08 and a debt-to-equity ratio of 0.06. Gladstone Capital has a 52 week low of $21.96 and a 52 week high of $30.43. The firm has a market capitalization of $610.28 million, a PE ratio of 8.06 and a beta of 1.01. The company's 50 day moving average is $27.45 and its two-hundred day moving average is $27.12.

Gladstone Capital (NASDAQ:GLAD - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.50. The firm had revenue of $21.66 million for the quarter, compared to the consensus estimate of $21.93 million. Gladstone Capital had a net margin of 84.60% and a return on equity of 9.43%. As a group, sell-side analysts predict that Gladstone Capital will post 2.03 earnings per share for the current year.

Hedge Funds Weigh In On Gladstone Capital

Several large investors have recently modified their holdings of GLAD. LPL Financial LLC raised its position in Gladstone Capital by 8.5% during the 4th quarter. LPL Financial LLC now owns 154,580 shares of the investment management company's stock worth $4,396,000 after purchasing an additional 12,064 shares during the last quarter. Advisors Asset Management Inc. grew its stake in Gladstone Capital by 8.0% during the first quarter. Advisors Asset Management Inc. now owns 85,652 shares of the investment management company's stock worth $2,352,000 after purchasing an additional 6,321 shares during the period. Kovack Advisors Inc. raised its holdings in shares of Gladstone Capital by 1.8% during the first quarter. Kovack Advisors Inc. now owns 38,561 shares of the investment management company's stock valued at $1,059,000 after purchasing an additional 669 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Gladstone Capital during the fourth quarter worth approximately $840,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of 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 valued at $792,000 after buying an additional 456 shares in the last quarter. Institutional investors own 10.72% of the company's stock.

About Gladstone Capital

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.