Gladstone Capital (NASDAQ:GLAD) Releases Earnings Results, Hits Expectations

Key Points

• Gladstone Capital reported earnings of $0.50 per share for the quarter, meeting analysts' expectations.
• The company declared a $0.165 dividend with a substantial yield of 685.0%, reflecting a payout ratio of 50.25%.
• Goldman Sachs recently increased its stake in Gladstone Capital by 1.6%, indicating growing institutional interest in the company.

Gladstone Capital (NASDAQ:GLAD - Get Free Report) released its quarterly earnings results on Monday. The investment management company reported $0.50 earnings per share for the quarter, hitting analysts' consensus estimates of $0.50, Zacks reports. Gladstone Capital had a return on equity of 9.85% and a net margin of 93.42%.

Gladstone Capital Price Performance

Shares of NASDAQ GLAD traded down $0.36 during trading on Monday, reaching $26.91. The company had a trading volume of 75,993 shares, compared to its average volume of 101,410. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.05. Gladstone Capital has a twelve month low of $21.40 and a twelve month high of $30.43. The stock has a 50-day moving average price of $27.40 and a two-hundred day moving average price of $27.20. The stock has a market capitalization of $600.90 million, a PE ratio of 6.83 and a beta of 1.01.

Gladstone Capital Announces Dividend

The business also recently declared a dividend, which was paid on Thursday, July 31st. Stockholders of record on Tuesday, July 22nd were issued a $0.165 dividend. This represents a dividend yield of 685.0%. The ex-dividend date of this dividend was Monday, July 21st. Gladstone Capital's payout ratio is 50.25%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Gladstone Capital

An institutional investor recently raised its position in Gladstone Capital stock. Goldman Sachs Group Inc. grew its holdings in shares of Gladstone Capital Corporation (NASDAQ:GLAD - Free Report) by 1.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,853 shares of the investment management company's stock after purchasing an additional 456 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.13% of Gladstone Capital worth $792,000 at the end of the most recent 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.

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