Garrison Capital Inc (GARS) Downgraded to “Sell” at Zacks Investment Research
Several other research firms have also recently weighed in on GARS. Robert W. Baird cut Garrison Capital from an outperform rating to a neutral rating and reduced their price objective for the company from $11.00 to $10.00 in a research report on Friday, August 12th. National Securities reissued a neutral rating and issued a $11.00 price objective on shares of Garrison Capital in a research report on Monday, August 15th. Finally, JMP Securities reissued a hold rating on shares of Garrison Capital in a research report on Monday, August 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $12.75.
Garrison Capital (NASDAQ:GARS) traded down 0.60% on Wednesday, reaching $9.93. 2,947 shares of the company were exchanged. Garrison Capital has a 52 week low of $9.29 and a 52 week high of $14.55. The stock has a 50-day moving average price of $10.33 and a 200 day moving average price of $10.35.
Garrison Capital (NASDAQ:GARS) last announced its quarterly 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. Equities analysts expect that Garrison Capital will post $1.46 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 9th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 14.01%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Clear Harbor Asset Management LLC bought a new position in shares of Garrison Capital during the first quarter worth about $128,000. JPMorgan Chase & Co. boosted its position in shares of Garrison Capital by 2,855.3% in the second quarter. JPMorgan Chase & Co. now owns 26,154 shares of the investment management company’s stock worth $264,000 after buying an additional 25,269 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of Garrison Capital by 69.6% in the second quarter. Oppenheimer & Co. Inc. now owns 37,870 shares of the investment management company’s stock worth $382,000 after buying an additional 15,540 shares during the last quarter. BlackRock Group LTD boosted its position in shares of Garrison Capital by 14.6% in the second quarter. BlackRock Group LTD now owns 73,770 shares of the investment management company’s stock worth $744,000 after buying an additional 9,385 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in shares of Garrison Capital by 115.0% in the second quarter. Janney Montgomery Scott LLC now owns 97,600 shares of the investment management company’s stock worth $1,076,000 after buying an additional 52,200 shares during the last quarter.
Garrison Capital Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Garrison Capital Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Garrison Capital Inc and related companies with MarketBeat.com's FREE daily email newsletter.