Insider Selling: Garrison Capital major shareholder Unloads 2,000,000 Shares of Stock (GARS)
Garrison Capital (NASDAQ:GARS) major shareholder Steven Scott Stuart unloaded 2,000,000 shares of the company’s stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $14.50, for a total transaction of $29,000,000.00. Following the transaction, the insider now directly owns 7,000 shares of the company’s stock, valued at approximately $101,500. The sale was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of Garrison Capital (NASDAQ:GARS) traded down 0.14% on Monday, hitting $14.48. The stock had a trading volume of 60,517 shares. Garrison Capital has a 52 week low of $13.68 and a 52 week high of $15.40. The stock’s 50-day moving average is $14.88 and its 200-day moving average is $14.44.
A number of research firms have recently commented on GARS. Analysts at Wunderlich initiated coverage on shares of Garrison Capital in a research note on Tuesday, July 1st. They set a “buy” rating and a $16.50 price target on the stock. Separately, analysts at Robert W. Baird downgraded shares of Garrison Capital from an “outperform” rating to a “neutral” rating in a research note on Wednesday, June 4th. They now have a $15.00 price target on the stock. They noted that the move was a valuation call. Finally, 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. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $15.55.
Garrison Capital Inc, (NASDAQ:GARS) is a non-diversified closed-end management investment company.
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