Garrison Capital Inc (GARS) Downgraded to Sell at Zacks Investment Research
Garrison Capital Inc (NASDAQ:GARS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
Several other research firms have also recently weighed in on GARS. National Securities reiterated a “neutral” rating and issued a $11.00 price target on shares of Garrison Capital in a report on Monday, August 15th. JMP Securities reiterated a “hold” rating on shares of Garrison Capital in a report on Monday, August 15th. Finally, Robert W. Baird cut shares of Garrison Capital from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $11.00 to $10.00 in a report on Friday, August 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $12.75.
Garrison Capital (NASDAQ:GARS) traded down 0.40% on Wednesday, hitting $9.99. 32,520 shares of the stock were exchanged. Garrison Capital has a one year low of $9.29 and a one year high of $14.55. The company has a 50 day moving average of $10.34 and a 200 day moving average of $10.35.
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Garrison Capital (NASDAQ:GARS) last issued its earnings results on Tuesday, August 9th. The investment management company reported $0.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by $0.01. On average, equities analysts predict that Garrison Capital will post $1.46 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 9th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 14.01%. The ex-dividend date was Wednesday, September 7th.
A number of hedge funds have recently made changes to their positions in the stock. Nuveen Fund Advisors LLC purchased a new stake in shares of Garrison Capital during the second quarter worth approximately $1,383,000. Janney Montgomery Scott LLC raised its position in shares of Garrison Capital by 137.9% in the second quarter. Janney Montgomery Scott LLC now owns 108,000 shares of the investment management company’s stock valued at $1,090,000 after buying an additional 62,600 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Garrison Capital by 2,855.3% in the second quarter. JPMorgan Chase & Co. now owns 26,154 shares of the investment management company’s stock valued at $264,000 after buying an additional 25,269 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in shares of Garrison Capital by 69.6% in the second quarter. Oppenheimer & Co. Inc. now owns 37,870 shares of the investment management company’s stock valued at $382,000 after buying an additional 15,540 shares during the last quarter. Finally, Clear Harbor Asset Management LLC bought a new position in shares of Garrison Capital during the first quarter valued at $128,000.
Garrison Capital Company Profile
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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