Insider Buying: Garrison Capital CFO Purchases 1,318 Shares of Stock (GARS)
Garrison Capital (NASDAQ:GARS) CFO Brian S. Chase acquired 1,318 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was purchased at an average cost of $14.62 per share, for a total transaction of $19,269.16. Following the completion of the transaction, the chief financial officer now directly owns 12,018 shares in the company, valued at approximately $175,703. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on GARS shares. Analysts at Robert W. Baird downgraded shares of Garrison Capital from an “outperform” rating to a “neutral” rating in a research note on Wednesday. They now have a $15.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Ladenburg Thalmann initiated coverage on shares of Garrison Capital in a research note on Monday, June 2nd. They set a “neutral” rating on the stock.
Shares of Garrison Capital (NASDAQ:GARS) traded up 1.51% during mid-day trading on Friday, hitting $14.83. The stock had a trading volume of 58,989 shares. Garrison Capital has a 52 week low of $13.68 and a 52 week high of $15.75. The stock’s 50-day moving average is $14.33 and its 200-day moving average is $14.28.
Garrison Capital (NASDAQ:GARS) last announced its earnings results on Thursday, March 13th. The company reported $0.32 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.34 by $0.02. On average, analysts predict that Garrison Capital will post $1.23 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, June 27th. Investors of record on Friday, June 13th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 9.44%. The ex-dividend date is Wednesday, June 11th.
Garrison Capital Inc, (NASDAQ:GARS) is a non-diversified closed-end management investment company.
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