Garrison Capital Inc. (GARS) Receives Consensus Recommendation of “Hold” from Analysts
Garrison Capital Inc. (NASDAQ:GARS) has been given a consensus rating of “Hold” by the eight research firms that are currently covering the stock, Marketbeat reports. Six analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $10.17.
A number of equities research analysts recently commented on GARS shares. Zacks Investment Research raised 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 set a $10.00 price objective on shares of Garrison Capital in a research note on Monday, August 14th. Finally, ValuEngine cut Garrison Capital from a “buy” rating to a “hold” rating in a research note on Friday, September 1st.
Garrison Capital (NASDAQ:GARS) opened at 8.41 on Friday. Garrison Capital has a 52-week low of $7.77 and a 52-week high of $10.15. The company has a 50 day moving average price of $8.44 and a 200-day moving average price of $8.72.
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 analysts’ consensus estimates of $0.27 by $0.02. Garrison Capital had a positive return on equity of 8.33% and a negative net margin of 0.38%. The business had revenue of $9.03 million during the quarter, compared to analysts’ expectations of $9.08 million. On average, equities research analysts expect that Garrison Capital will post $1.10 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Friday, September 8th were paid a dividend of $0.28 per share. The ex-dividend date was Thursday, September 7th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 13.33%.
In other Garrison Capital news, CFO Brian S. Chase bought 4,000 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was purchased at an average cost of $8.07 per share, with a total value of $32,280.00. Following the completion of the purchase, the chief financial officer now owns 46,135 shares in the company, valued at $372,309.45. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last three months, insiders acquired 8,000 shares of company stock valued at $65,190. Insiders own 5.80% of the company’s stock.
Large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. acquired a new position in Garrison Capital in the second quarter valued at about $129,000. Alpine Woods Capital Investors LLC grew its stake 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 acquiring an additional 9,000 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Garrison Capital in the second quarter valued at about $178,000. Stephens Inc. AR grew its stake in Garrison Capital by 14.1% in the first quarter. Stephens Inc. AR now owns 21,607 shares of the investment management company’s stock valued at $211,000 after acquiring an additional 2,673 shares during the period. Finally, Oppenheimer & Co. Inc. grew its stake in Garrison Capital by 35.6% in the second quarter. Oppenheimer & Co. Inc. now owns 53,727 shares of the investment management company’s stock valued at $444,000 after acquiring an additional 14,093 shares during the period. 22.03% of the stock is owned by hedge funds and other institutional investors.
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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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