Garrison Capital Inc (NASDAQ:GARS) Shares Sold by Rivernorth Capital Management LLC
Rivernorth Capital Management LLC reduced its position in shares of Garrison Capital Inc (NASDAQ:GARS) by 6.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,107,708 shares of the investment management company’s stock after selling 81,358 shares during the period. Rivernorth Capital Management LLC owned 6.90% of Garrison Capital worth $7,643,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in GARS. FNY Investment Advisers LLC acquired a new stake in shares of Garrison Capital during the 2nd quarter worth about $80,000. JPMorgan Chase & Co. boosted its stake in shares of 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 purchasing an additional 2,400 shares during the last quarter. Clear Harbor Asset Management LLC boosted its stake in shares of Garrison Capital by 39.5% during the 2nd quarter. Clear Harbor Asset Management LLC now owns 129,014 shares of the investment management company’s stock worth $890,000 after purchasing an additional 36,558 shares during the last quarter. Virtus ETF Advisers LLC purchased a new position in shares of Garrison Capital during the 2nd quarter worth about $1,895,000. Finally, Stilwell Value LLC lifted its holdings in shares of Garrison Capital by 98.5% during the 2nd quarter. Stilwell Value LLC now owns 286,184 shares of the investment management company’s stock worth $1,975,000 after acquiring an additional 142,005 shares during the period. 27.53% of the stock is currently owned by institutional investors.
Shares of GARS stock remained flat at $$6.97 during trading hours on Friday. 700 shares of the stock traded hands, compared to its average volume of 36,319. The stock has a market cap of $111.80 million, a price-to-earnings ratio of 6.90 and a beta of 0.57. Garrison Capital Inc has a 1-year low of $6.03 and a 1-year high of $8.45. The company has a debt-to-equity ratio of 2.10, a quick ratio of 3.18 and a current ratio of 3.18. The business’s 50-day moving average price is $6.99 and its two-hundred day moving average price is $7.06.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a dividend of $0.23 per share. The ex-dividend date is Thursday, September 5th. This represents a $0.92 annualized dividend and a dividend yield of 13.20%. Garrison Capital’s payout ratio is currently 91.09%.
Several brokerages have recently weighed in on GARS. Zacks Investment Research upgraded shares of Garrison Capital from a “hold” rating to a “buy” rating and set a $7.75 price objective on the stock in a report on Thursday, August 15th. ValuEngine upgraded shares of Garrison Capital from a “sell” rating to a “hold” rating in a report on Wednesday, September 4th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $9.25.
Garrison Capital Profile
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.
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