Garrison Capital Inc. (GARS) Shares Sold by Alliancebernstein L.P.
Alliancebernstein L.P. cut its stake in shares of Garrison Capital Inc. (NASDAQ:GARS) by 56.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,868 shares of the investment management company’s stock after selling 62,486 shares during the period. Alliancebernstein L.P.’s holdings in Garrison Capital were worth $395,000 at the end of the most recent quarter.
Separately, Alpine Woods Capital Investors LLC raised its position in shares of 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 purchasing an additional 9,000 shares during the period. Institutional investors own 21.60% of the company’s stock.
Garrison Capital Inc. (NASDAQ GARS) opened at $8.21 on Tuesday. The company has a quick ratio of 4.58, a current ratio of 4.58 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $131.60, a price-to-earnings ratio of 8.04 and a beta of 0.24.
Garrison Capital (NASDAQ:GARS) last issued its earnings results on Tuesday, August 8th. The investment management company reported $0.29 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $9.03 million for the quarter, compared to analyst estimates of $9.08 million. equities research analysts predict that Garrison Capital Inc. will post 1.11 EPS for the current year.
A number of equities research analysts have recently issued reports on GARS shares. Zacks Investment Research raised Garrison Capital from a “hold” rating to a “buy” rating and set a $9.50 target price on the stock in a research report on Tuesday, October 24th. ValuEngine raised Garrison Capital from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, National Securities reaffirmed a “neutral” rating and set a $10.00 target price on shares of Garrison Capital in a research report on Monday, August 14th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $10.00.
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In related news, CFO Brian S. Chase purchased 4,000 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was bought at an average price of $8.07 per share, for a total transaction of $32,280.00. Following the purchase, 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 is accessible through this link. Over the last ninety days, insiders acquired 8,000 shares of company stock worth $65,190. Insiders own 5.80% 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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