Garrison Capital Inc. (GARS) CFO Brian S. Chase Buys 4,000 Shares of Stock
Garrison Capital Inc. (NASDAQ:GARS) CFO Brian S. Chase purchased 4,000 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were acquired at an average price of $8.15 per share, for a total transaction of $32,600.00. Following the purchase, the chief financial officer now directly owns 50,135 shares of the company’s stock, valued at approximately $408,600.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Garrison Capital Inc. (NASDAQ:GARS) traded up $0.04 during mid-day trading on Wednesday, hitting $8.29. The stock had a trading volume of 43,800 shares, compared to its average volume of 51,872. Garrison Capital Inc. has a 1-year low of $7.77 and a 1-year high of $10.15. The stock has a market capitalization of $132.41, a price-to-earnings ratio of 7.37 and a beta of 0.24. The company has a debt-to-equity ratio of 1.07, a current ratio of 10.29 and a quick ratio of 10.29.
Garrison Capital (NASDAQ:GARS) last issued its quarterly earnings results on Tuesday, November 7th. The investment management company reported $0.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.02). Garrison Capital had a return on equity of 9.33% and a net margin of 14.66%. The business had revenue of $8.90 million for the quarter. equities analysts expect that Garrison Capital Inc. will post 1.08 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, December 8th will be given a $0.28 dividend. The ex-dividend date is Thursday, December 7th. This represents a $1.12 dividend on an annualized basis and a yield of 13.51%. Garrison Capital’s dividend payout ratio is currently 329.41%.
GARS has been the topic of a number of research analyst reports. Zacks Investment Research lowered Garrison Capital from a “buy” rating to a “hold” rating in a research note on Wednesday, October 25th. Maxim Group restated a “buy” rating and set a $11.00 price target on shares of Garrison Capital in a research note on Thursday, November 9th. ValuEngine lowered Garrison Capital from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, National Securities restated a “neutral” rating and set a $10.00 price target on shares of Garrison Capital in a research note on Monday, August 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $10.13.
A number of hedge funds and other institutional investors have recently modified their holdings of GARS. Goldman Sachs Group Inc. purchased a new stake in Garrison Capital in the second quarter valued at approximately $129,000. OxFORD Asset Management LLP boosted its position in Garrison Capital by 56.1% in the third quarter. OxFORD Asset Management LLP now owns 17,586 shares of the investment management company’s stock valued at $148,000 after buying an additional 6,321 shares during the last quarter. Alpine Woods Capital Investors LLC boosted its position in Garrison Capital by 81.8% in the second quarter. Alpine Woods Capital Investors LLC now owns 20,000 shares of the investment management company’s stock valued at $165,000 after buying an additional 9,000 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Garrison Capital in the second quarter valued at approximately $178,000. Finally, Stephens Inc. AR boosted its position in Garrison Capital by 40.1% in the second quarter. Stephens Inc. AR now owns 30,274 shares of the investment management company’s stock valued at $250,000 after buying an additional 8,667 shares during the last quarter. Hedge funds and other institutional investors own 20.25% of the company’s stock.
About Garrison Capital
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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