Garrison Capital Inc. (GARS) Upgraded to Buy by ValuEngine
ValuEngine upgraded shares of Garrison Capital Inc. (NASDAQ:GARS) from a hold rating to a buy rating in a research report report published on Monday.
GARS has been the topic of a number of other reports. Zacks Investment Research raised shares of Garrison Capital from a strong sell rating to a hold rating in a research note on Wednesday, July 19th. National Securities reaffirmed a neutral rating and issued a $10.00 target price on shares of Garrison Capital in a research report on Monday, August 14th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $9.94.
Garrison Capital (NASDAQ:GARS) traded up 0.24% during trading on Monday, reaching $8.44. The company’s stock had a trading volume of 4,568 shares. The firm has a 50-day moving average price of $8.42 and a 200-day moving average price of $8.75. Garrison Capital has a 52 week low of $7.77 and a 52 week high of $10.16.
Garrison Capital (NASDAQ:GARS) last announced its quarterly earnings data on Tuesday, August 8th. The investment management company reported $0.29 EPS for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.02. The firm had revenue of $9.03 million during the quarter, compared to analyst estimates of $9.08 million. Garrison Capital had a positive return on equity of 8.33% and a negative net margin of 0.38%. Equities research analysts forecast that Garrison Capital will post $1.10 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Friday, September 8th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 13.30%. The ex-dividend date was Thursday, September 7th.
In other Garrison Capital news, CFO Brian S. Chase purchased 4,000 shares of the stock in a transaction dated Friday, August 11th. The shares were bought at an average cost of $8.07 per share, with a total value of $32,280.00. Following the completion of the transaction, the chief financial officer now owns 46,135 shares in the company, valued at approximately $372,309.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders purchased a total of 8,000 shares of company stock worth $65,190 over the last quarter. 5.80% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in the stock. UBS Group AG boosted its stake 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 valued at $4,324,000 after purchasing an additional 74,540 shares during the period. Ares Management LLC lifted its holdings in shares of Garrison Capital by 0.8% during the first quarter. Ares Management LLC now owns 309,244 shares of the investment management company’s stock worth $3,024,000 after buying an additional 2,500 shares during the last quarter. AJO LP acquired a new position in shares of Garrison Capital during the second quarter worth approximately $816,000. Blair William & Co. IL lifted its holdings in shares of Garrison Capital by 1.1% during the first quarter. Blair William & Co. IL now owns 70,650 shares of the investment management company’s stock worth $712,000 after buying an additional 750 shares during the last quarter. Finally, Caxton Corp lifted its holdings in shares of Garrison Capital by 4.0% during the second quarter. Caxton Corp now owns 68,702 shares of the investment management company’s stock worth $567,000 after buying an additional 2,629 shares during the last quarter. Hedge funds and other institutional investors own 22.03% of the company’s stock.
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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