Garrison Capital Inc (GARS) Sees Strong Trading Volume
Garrison Capital Inc (NASDAQ:GARS) saw unusually-strong trading volume on Friday . Approximately 65,415 shares were traded during mid-day 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.
A number of equities research analysts recently issued reports on GARS shares. Janney Montgomery Scott began coverage on shares of Garrison Capital in a report on Wednesday, April 27th. They issued a “neutral” rating for the company. Zacks Investment Research downgraded shares of Garrison Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, May 10th. National Securities reiterated a “neutral” rating and set a $11.00 price objective on shares of Garrison Capital in a research note on Wednesday, May 11th. Maxim Group decreased their price objective on shares of Garrison Capital from $14.00 to $13.50 and set a “buy” rating for the company in a research note on Monday, May 23rd. Finally, Robert W. Baird downgraded shares of Garrison Capital from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $11.00 to $10.00 in a research note on Friday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $12.75.
The firm’s 50-day moving average is $10.38 and its 200 day moving average is $10.55.
Garrison Capital (NASDAQ:GARS) last posted its quarterly earnings results on Tuesday, August 9th. The investment management company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by $0.01. On average, equities analysts predict that Garrison Capital Inc will post $1.36 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 9th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 13.54%. The ex-dividend date of this dividend is Wednesday, September 7th.
In related news, CEO Joseph Bertrand Tansey purchased 10,000 shares of Garrison Capital stock in a transaction dated Tuesday, June 7th. The stock was acquired at an average cost of $10.47 per share, with a total value of $104,700.00. Following the completion of the transaction, the chief executive officer now directly owns 77,996 shares of the company’s stock, valued at $816,618.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rafael Astruc purchased 2,500 shares of Garrison Capital stock in a transaction dated Wednesday, May 18th. The stock was bought at an average cost of $10.15 per share, with a total value of $25,375.00. Following the completion of the transaction, the director now directly owns 469 shares of the company’s stock, 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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