ValuEngine Downgrades Garrison Capital Inc (GARS) to Hold
Garrison Capital Inc (NASDAQ:GARS) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Friday.
Several other equities analysts have also recently weighed in on GARS. Citigroup Inc restated a “market perform” rating on shares of Garrison Capital in a report on Friday, May 12th. National Securities dropped their target price on Garrison Capital from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Monday, May 15th. Zacks Investment Research cut Garrison Capital from a “hold” rating to a “sell” rating in a report on Thursday, May 11th. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of Garrison Capital in a report on Friday, May 12th. Finally, CIBC cut Garrison Capital from an “outperform” rating to a “market perform” rating in a report on Friday, May 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. Garrison Capital presently has an average rating of “Hold” and an average price target of $10.50.
Shares of Garrison Capital (GARS) traded up 0.68% during mid-day trading on Friday, reaching $8.88. The company’s stock had a trading volume of 100,331 shares. The company’s market cap is $142.52 million. The company has a 50-day moving average price of $9.28 and a 200 day moving average price of $9.49. Garrison Capital has a 52-week low of $8.60 and a 52-week high of $10.98.
Garrison Capital (NASDAQ:GARS) last released its quarterly earnings results on Tuesday, May 9th. The investment management company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.29 by $0.03. The business had revenue of $8.99 million during the quarter, compared to analyst estimates of $9.73 million. Equities analysts expect that Garrison Capital will post $1.11 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 23rd. Stockholders of record on Friday, June 9th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 12.61%. The ex-dividend date of this dividend is Wednesday, June 7th.
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In other Garrison Capital news, CFO Brian S. Chase acquired 6,000 shares of the company’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 acquisition, the chief financial officer now directly owns 40,125 shares in the company, valued at $348,686.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joseph Bertrand Tansey acquired 9,000 shares of the company’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 in the company, valued at $902,155.20. The disclosure for this purchase can be found here. In the last quarter, insiders bought 40,210 shares of company stock valued at $358,662.
A number of institutional investors have recently bought and sold shares of the stock. Shelton Capital Management acquired a new position in Garrison Capital during the fourth quarter worth about $598,000. Two Sigma Investments LP boosted its position in Garrison Capital by 3.4% in the fourth quarter. Two Sigma Investments LP now owns 75,575 shares of the investment management company’s stock worth $707,000 after buying an additional 2,500 shares during the last quarter. Baird Financial Group Inc. boosted its position in Garrison Capital by 1.3% in the first quarter. Baird Financial Group Inc. now owns 53,650 shares of the investment management company’s stock worth $525,000 after buying an additional 700 shares during the last quarter. Blair William & Co. IL boosted its position in Garrison Capital by 1.1% in the first quarter. Blair William & Co. IL now owns 70,650 shares of the investment management company’s stock worth $712,000 after buying an additional 750 shares during the last quarter. Finally, Stephens Inc. AR boosted its position in Garrison Capital by 14.1% in the first quarter. Stephens Inc. AR now owns 21,607 shares of the investment management company’s stock worth $211,000 after buying an additional 2,673 shares during the last quarter.
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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