Garrison Capital Inc (GARS) Sees Unusually-High Trading Volume
Shares of Garrison Capital Inc (NASDAQ:GARS) saw an uptick in trading volume on Thursday . 87,360 shares changed hands during trading, an increase of 62% from the previous session’s volume of 54,032 shares.The stock last traded at $10.43 and had previously closed at $10.26.
A number of research analysts have recently weighed in on the company. Maxim Group cut their price objective on Garrison Capital from $14.00 to $13.50 and set a “buy” rating for the company in a research report on Monday, May 23rd. Janney Montgomery Scott assumed coverage on Garrison Capital in a research report on Wednesday, April 27th. They set a “neutral” rating for the company. Zacks Investment Research upgraded Garrison Capital from a “sell” rating to a “hold” rating in a research report on Wednesday, March 23rd. Stephens cut their price objective on Garrison Capital from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Thursday, March 17th. Finally, National Securities restated a “neutral” rating and set a $11.00 price objective on shares of Garrison Capital in a research report on Wednesday, May 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $13.61.
The stock’s 50-day moving average is $10.11 and its 200 day moving average is $10.80. The firm’s market capitalization is $168.89 million.
Garrison Capital (NASDAQ:GARS) last issued its quarterly earnings data on Monday, May 9th. The investment management company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Equities research analysts forecast that Garrison Capital Inc will post $1.40 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 24th. Shareholders of record on Friday, June 10th were given a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, June 8th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 13.42%.
In other news, Director Rafael Astruc acquired 2,500 shares of the firm’s stock in a transaction on Wednesday, May 18th. The stock was acquired at an average price of $10.15 per share, for a total transaction of $25,375.00. Following the completion of the transaction, the director now owns 469 shares in the company, valued at approximately $4,760.35. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Joseph Bertrand Tansey acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, June 7th. The stock was purchased at an average price of $10.47 per share, with a total value of $104,700.00. Following the transaction, the chief executive officer now owns 77,996 shares of the company’s stock, valued at approximately $816,618.12. The disclosure for this purchase can be found here.
Garrison Capital Inc, (Garrison Capital) is a non-diversified closed-end management investment company. The Company’s investment objective is to provide its stockholders with current income and capital appreciation through debt and minority equity investments in middle-market companies. The Company invest primarily in first lien senior secured loans, second lien senior secured loans, one-stop senior secured or unitranche loans, subordinated or mezzanine loans and to a lesser extent, selected equity co-investments in middle-market companies.
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