Garrison Capital Inc (GARS) Lowered 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 research note issued to investors on Wednesday.
Several other research analysts have also issued reports on GARS. JMP Securities restated a “hold” rating on shares of Garrison Capital in a report on Monday, August 15th. Robert W. Baird downgraded shares of Garrison Capital from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $11.00 to $10.00 in a research report on Friday, August 12th. Finally, National Securities reaffirmed a “neutral” rating and set a $11.00 price objective on shares of Garrison Capital in a research report on Monday, August 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $12.75.
Garrison Capital (NASDAQ:GARS) traded down 0.40% during mid-day trading on Wednesday, reaching $9.99. 32,520 shares of the company’s stock traded hands. The company has a 50 day moving average price of $10.34 and a 200-day moving average price of $10.35. Garrison Capital has a 12 month low of $9.29 and a 12 month high of $14.55.
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Garrison Capital (NASDAQ:GARS) last released its quarterly earnings results on Tuesday, August 9th. The investment management company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by $0.01. On average, equities analysts forecast that Garrison Capital will post $1.46 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Friday, September 9th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 14.01%. The ex-dividend date of this dividend was Wednesday, September 7th.
A number of institutional investors have recently bought and sold shares of GARS. Clear Harbor Asset Management LLC purchased a new position in Garrison Capital during the first quarter worth about $128,000. Envestnet Asset Management Inc. purchased a new position in Garrison Capital during the first quarter worth about $156,000. JPMorgan Chase & Co. increased its position in 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 worth $264,000 after buying an additional 25,269 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in Garrison Capital by 69.6% in the second quarter. Oppenheimer & Co. Inc. now owns 37,870 shares of the investment management company’s stock worth $382,000 after buying an additional 15,540 shares in the last quarter. Finally, BlackRock Group LTD increased its position in Garrison Capital by 14.6% in the second quarter. BlackRock Group LTD now owns 73,770 shares of the investment management company’s stock worth $744,000 after buying an additional 9,385 shares in the last quarter.
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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