Brian S. Chase Buys 4,000 Shares of Garrison Capital Inc. (GARS) Stock
Garrison Capital Inc. (NASDAQ:GARS) CFO Brian S. Chase bought 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The shares were bought at an average price of $8.15 per share, for a total transaction of $32,600.00. Following the transaction, the chief financial officer now directly owns 50,135 shares in the company, valued at $408,600.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Garrison Capital Inc. (NASDAQ:GARS) traded up $0.08 on Thursday, reaching $8.37. 46,600 shares of the company’s stock traded hands, compared to its average volume of 51,849. The company has a debt-to-equity ratio of 1.07, a quick ratio of 10.29 and a current ratio of 10.29. Garrison Capital Inc. has a 1 year low of $7.77 and a 1 year high of $10.15. The firm has a market capitalization of $133.05, a P/E ratio of 7.40 and a beta of 0.24.
Garrison Capital (NASDAQ:GARS) last released its quarterly earnings data on Tuesday, November 7th. The investment management company reported $0.26 earnings per share for the quarter, missing the Thomson Reuters’ 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. analysts forecast that Garrison Capital Inc. will post 1.08 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 8th will be issued a dividend of $0.28 per share. The ex-dividend date is Thursday, December 7th. This represents a $1.12 annualized dividend and a yield of 13.38%. Garrison Capital’s payout ratio is 329.41%.
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A number of research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Garrison Capital from a “buy” rating to a “hold” rating in a research report on Wednesday, October 25th. Maxim Group restated a “buy” rating and set a $11.00 price objective on shares of Garrison Capital in a report on Thursday, November 9th. ValuEngine upgraded shares of Garrison Capital from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, National Securities restated a “neutral” rating and set a $10.00 price objective on shares of Garrison Capital in a report on Monday, November 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $10.13.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in GARS. Alpine Woods Capital Investors LLC raised its holdings in Garrison Capital by 81.8% during the second quarter. Alpine Woods Capital Investors LLC now owns 20,000 shares of the investment management company’s stock worth $165,000 after buying an additional 9,000 shares during the last quarter. Oppenheimer & Co. Inc. raised its holdings in Garrison Capital by 35.6% during the second quarter. Oppenheimer & Co. Inc. now owns 53,727 shares of the investment management company’s stock worth $444,000 after buying an additional 14,093 shares during the last quarter. AJO LP acquired a new position in Garrison Capital during the second quarter worth $816,000. Stephens Inc. AR raised its holdings in shares of 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 purchasing an additional 8,667 shares during the last quarter. Finally, Caxton Corp raised its holdings in shares of Garrison Capital by 4.0% in the second quarter. Caxton Corp now owns 68,702 shares of the investment management company’s stock valued at $567,000 after purchasing an additional 2,629 shares during the last quarter. Hedge funds and other institutional investors own 20.25% 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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