Gladstone Capital (NASDAQ:GLAD) Coverage Initiated at B. Riley

B. Riley initiated coverage on shares of Gladstone Capital (NASDAQ:GLAD) in a report issued on Wednesday, MarketBeat Ratings reports. The firm set a “neutral” rating and a $23.00 price target on the investment management company’s stock. B. Riley’s price objective would indicate a potential downside of 5.47% from the stock’s current price.

Gladstone Capital Stock Performance

GLAD opened at $24.33 on Wednesday. Gladstone Capital has a 12-month low of $18.56 and a 12-month high of $25.29. The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $529.27 million, a PE ratio of 8.82 and a beta of 1.26. The firm has a 50 day moving average of $23.54 and a two-hundred day moving average of $22.88.

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

Hedge Funds Weigh In On Gladstone Capital

Institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC increased its holdings in shares of Gladstone Capital by 2,305.0% during the 3rd quarter. International Assets Investment Management LLC now owns 384,535 shares of the investment management company’s stock valued at $9,248,000 after purchasing an additional 368,546 shares in the last quarter. Good Life Advisors LLC increased its holdings in shares of Gladstone Capital by 101.2% during the 3rd quarter. Good Life Advisors LLC now owns 17,850 shares of the investment management company’s stock valued at $429,000 after purchasing an additional 8,979 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new position in shares of Gladstone Capital during the 2nd quarter valued at approximately $32,000. National Bank of Canada FI purchased a new position in shares of Gladstone Capital during the 2nd quarter valued at approximately $98,000. Finally, Legacy Capital Wealth Partners LLC purchased a new position in shares of Gladstone Capital during the 2nd quarter valued at approximately $1,723,000. 10.72% of the stock is owned by hedge funds and other institutional investors.

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.