Garrison Capital (NASDAQ:GARS) Receiving Somewhat Positive Media Coverage, Analysis Finds
News stories about Garrison Capital (NASDAQ:GARS) have been trending somewhat positive recently, according to Accern. Accern identifies positive and negative press coverage by reviewing more than 20 million news and blog sources in real time. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Garrison Capital earned a media sentiment score of 0.04 on Accern’s scale. Accern also assigned news stories about the investment management company an impact score of 83 out of 100, meaning that recent press coverage is very likely to have an impact on the company’s share price in the immediate future.
Garrison Capital (GARS) remained flat at $8.25 during mid-day trading on Tuesday. 30,735 shares of the company were exchanged. The company’s 50 day moving average is $8.60 and its 200-day moving average is $9.37. Garrison Capital has a 12 month low of $8.20 and a 12 month high of $10.98.
Garrison Capital (NASDAQ:GARS) last announced its quarterly earnings data on Tuesday, May 9th. The investment management company reported $0.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by $0.03. Garrison Capital had a negative net margin of 44.34% and a negative return on equity of 8.20%. The company had revenue of $8.99 million during the quarter, compared to the consensus estimate of $9.73 million. On average, analysts forecast that Garrison Capital will post $1.11 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 23rd. Investors of record on Friday, June 9th were issued a dividend of $0.28 per share. The ex-dividend date was Wednesday, June 7th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 13.58%.
A number of research analysts recently issued reports on GARS shares. National Securities reiterated a “neutral” rating and issued a $11.00 price objective on shares of Garrison Capital in a report on Monday, March 13th. Wunderlich downgraded shares of Garrison Capital from a “buy” rating to a “hold” rating and decreased their target price for the company from $11.00 to $10.00 in a research report on Thursday, March 16th. Maxim Group reissued a “buy” rating and set a $10.50 target price on shares of Garrison Capital in a research report on Thursday, May 11th. Zacks Investment Research downgraded shares of Garrison Capital from a “hold” rating to a “sell” rating in a research report on Thursday, May 11th. Finally, Citigroup Inc. reissued a “market perform” rating on shares of Garrison Capital in a research report on Friday, May 12th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $10.50.
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In other Garrison Capital news, CFO Brian S. Chase bought 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The stock was bought at an average price of $8.69 per share, for a total transaction of $52,140.00. Following the completion of the acquisition, the chief financial officer now directly owns 40,125 shares in the company, valued at $348,686.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joseph Bertrand Tansey bought 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The shares were acquired at an average price of $8.70 per share, with a total value of $78,300.00. Following the acquisition, the chief executive officer now owns 103,696 shares of the company’s stock, valued at $902,155.20. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 34,210 shares of company stock valued at $299,712.
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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