Cecil E. Martin, Jr. Buys 3,000 Shares of Garrison Capital Inc. (GARS) Stock
Garrison Capital Inc. (NASDAQ:GARS) Director Cecil E. Martin, Jr. bought 3,000 shares of the company’s stock in a transaction dated Wednesday, September 13th. The stock was purchased at an average price of $8.23 per share, for a total transaction of $24,690.00. Following the purchase, the director now owns 4,500 shares of the company’s stock, valued at approximately $37,035. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Shares of Garrison Capital Inc. (NASDAQ:GARS) traded up 1.08% on Friday, reaching $8.45. 42,928 shares of the company were exchanged. The firm’s 50 day moving average price is $8.29 and its 200 day moving average price is $8.88. Garrison Capital Inc. has a 52 week low of $7.77 and a 52 week high of $10.54.
Garrison Capital (NASDAQ:GARS) last released its earnings results on Tuesday, August 8th. The investment management company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.02. The company had revenue of $9.03 million for the quarter, compared to the consensus estimate of $9.08 million. Garrison Capital had a negative net margin of 0.38% and a positive return on equity of 8.33%. Equities analysts predict that Garrison Capital Inc. will post $1.11 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 13.25%. The ex-dividend date of this dividend is Thursday, September 7th.
A number of research analysts recently weighed in on the stock. ValuEngine downgraded shares of Garrison Capital from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Zacks Investment Research upgraded shares of Garrison Capital from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, National Securities restated a “neutral” rating and set a $10.00 price objective on shares of Garrison Capital in a research report on Monday, August 14th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Garrison Capital currently has a consensus rating of “Hold” and a consensus price target of $9.94.
A number of large investors have recently added to or reduced their stakes in GARS. AJO LP purchased a new stake in Garrison Capital during the 2nd quarter worth approximately $816,000. UBS Group AG grew its position in Garrison Capital by 20.3% during the 1st quarter. UBS Group AG now owns 442,062 shares of the investment management company’s stock worth $4,324,000 after purchasing an additional 74,540 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Garrison Capital during the 2nd quarter worth approximately $178,000. Goldman Sachs Group Inc. purchased a new stake in Garrison Capital during the 2nd quarter worth approximately $129,000. Finally, Oppenheimer & Co. Inc. grew its position in Garrison Capital by 35.6% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 53,727 shares of the investment management company’s stock worth $444,000 after purchasing an additional 14,093 shares during the last quarter. 22.03% of the stock is currently owned by institutional investors.
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.
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