Garrison Capital (NASDAQ:GARS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

According to Zacks, “Garrison Capital Inc. is an externally 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. It invests or provides direct lending in first lien senior secured loans, second lien senior secured loans, one-stop senior secured loans or unitranche loans, subordinated or mezzanine loans, unsecured consumer loans and to a lesser extent, selected equity co-investments in middle-market companies. The Company intends to generate risk-adjusted net returns by assembling a portfolio of investments. The Company’s investments include debt investments, preferred and minority equity investments (equity) of diversified companies and a portfolio of unsecured small balance consumer loans. “

Separately, ValuEngine upgraded shares of Garrison Capital from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd.

Shares of GARS traded up $0.14 during mid-day trading on Tuesday, reaching $6.01. The company had a trading volume of 54,600 shares, compared to its average volume of 28,522. The company’s 50 day simple moving average is $5.81 and its 200 day simple moving average is $6.55. Garrison Capital has a 1-year low of $5.33 and a 1-year high of $7.65. The company has a debt-to-equity ratio of 2.28, a quick ratio of 3.51 and a current ratio of 3.51. The company has a market capitalization of $94.69 million, a price-to-earnings ratio of 5.95 and a beta of 0.51.

Garrison Capital (NASDAQ:GARS) last posted its quarterly earnings results on Tuesday, November 12th. The investment management company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). Garrison Capital had a negative net margin of 51.22% and a positive return on equity of 8.22%. The company had revenue of $9.71 million during the quarter, compared to analyst estimates of $10.75 million. As a group, equities analysts forecast that Garrison Capital will post 0.8 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of GARS. JPMorgan Chase & Co. boosted its position in Garrison Capital by 10.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 26,075 shares of the investment management company’s stock worth $180,000 after buying an additional 2,400 shares during the period. FNY Investment Advisers LLC boosted its position in Garrison Capital by 17.6% during the 4th quarter. FNY Investment Advisers LLC now owns 20,000 shares of the investment management company’s stock worth $116,000 after buying an additional 3,000 shares during the period. Stephens Inc. AR boosted its position in Garrison Capital by 27.9% during the 3rd quarter. Stephens Inc. AR now owns 28,578 shares of the investment management company’s stock worth $197,000 after buying an additional 6,237 shares during the period. Clear Harbor Asset Management LLC boosted its position in Garrison Capital by 18.0% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 152,264 shares of the investment management company’s stock worth $1,052,000 after buying an additional 23,250 shares during the period. Finally, Rivernorth Capital Management LLC boosted its position in Garrison Capital by 4.7% during the 3rd quarter. Rivernorth Capital Management LLC now owns 1,159,976 shares of the investment management company’s stock worth $8,015,000 after buying an additional 52,268 shares during the period. Institutional investors own 27.78% of the company’s stock.

About Garrison Capital

Garrison Capital Inc is a business development company specializing in investments primarily in the debt and equity of middle market companies. It seeks to invest in first lien senior secured loans, second lien senior secured loans, “one-stop” senior secured or “unitranche” loans, subordinated or mezzanine loans, unsecured consumer loans and to a lesser extent, selected equity co-investments in middle-market companies, warrants and minority equity securities in United States middle-market companies.

See Also: Cost of Goods Sold (COGS)

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