Garrison Capital Inc (GARS) Sees Large Volume Increase
Garrison Capital Inc (NASDAQ:GARS) saw unusually-strong trading volume on Friday . Approximately 65,415 shares traded hands during trading, an increase of 25% from the previous session’s volume of 52,449 shares.The stock last traded at $10.33 and had previously closed at $10.52.
Several analysts have commented on the stock. Zacks Investment Research raised shares of Garrison Capital from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Tuesday, July 12th. National Securities reissued a “neutral” rating and issued a $11.00 target price on shares of Garrison Capital in a research report on Wednesday, May 11th. Robert W. Baird downgraded shares of Garrison Capital from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $11.00 to $10.00 in a research report on Friday. Janney Montgomery Scott assumed coverage on shares of Garrison Capital in a research report on Wednesday, April 27th. They issued a “neutral” rating for the company. Finally, Maxim Group decreased their target price on shares of Garrison Capital from $14.00 to $13.50 and set a “buy” rating for the company in a research report on Monday, May 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Garrison Capital currently has a consensus rating of “Hold” and an average price target of $12.75.
The firm has a 50 day moving average price of $10.37 and a 200 day moving average price of $10.56.
Garrison Capital (NASDAQ:GARS) last announced its earnings results on Tuesday, August 9th. The investment management company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by $0.01. On average, equities analysts anticipate that Garrison Capital Inc will post $1.37 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, September 9th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $1.40 annualized dividend and a yield of 13.54%.
In other Garrison Capital news, CEO Joseph Bertrand Tansey purchased 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 7th. The stock was bought at an average cost of $10.47 per share, with a total value of $104,700.00. Following the purchase, the chief executive officer now directly owns 77,996 shares of the company’s stock, valued at $816,618.12. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Rafael Astruc purchased 2,500 shares of the firm’s stock in a transaction dated Wednesday, May 18th. The shares were acquired at an average cost of $10.15 per share, with a total value of $25,375.00. Following the completion of the purchase, the director now directly owns 469 shares in the company, valued at $4,760.35. The disclosure for this purchase can be found here.
Garrison Capital Inc is a managed, closed-end, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation by making investments primarily in debt securities and loans of the United States-based middle-market companies, which it defines as those having annual earnings before interest, taxes and depreciation, or EBITDA, of certain amount.
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