Garrison Capital Inc. (NASDAQ:GARS) Posts Earnings Results, Beats Expectations By $0.02 EPS
Garrison Capital Inc. (NASDAQ:GARS) announced its quarterly earnings data on Tuesday. The investment management company reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.02, Bloomberg Earnings reports. Garrison Capital had a negative net margin of 14.93% and a positive return on equity of 8.71%.
Shares of Garrison Capital (NASDAQ:GARS) traded down 1.14% during midday trading on Tuesday, hitting $7.79. 40,485 shares of the stock were exchanged. The firm’s 50-day moving average is $8.20 and its 200 day moving average is $9.15. Garrison Capital has a 52-week low of $7.77 and a 52-week high of $10.98.
In other news, CEO Joseph Bertrand Tansey bought 16,700 shares of the stock in a transaction dated Tuesday, May 16th. The stock was purchased at an average cost of $8.83 per share, for a total transaction of $147,461.00. Following the transaction, the chief executive officer now owns 82,996 shares of the company’s stock, valued at $732,854.68. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Brian S. Chase bought 6,000 shares of the stock in a transaction dated Tuesday, May 16th. The shares were purchased at an average price of $8.69 per share, with a total value of $52,140.00. Following the completion of the transaction, the chief financial officer now directly owns 40,125 shares in the company, valued at approximately $348,686.25. The disclosure for this purchase can be found here. Insiders have bought a total of 34,210 shares of company stock valued at $299,712 over the last quarter. Corporate insiders own 5.80% of the company’s stock.
GARS has been the subject of a number of recent research reports. Maxim Group restated a “buy” rating and issued a $10.50 price objective on shares of Garrison Capital in a report on Thursday, May 11th. Zacks Investment Research upgraded shares of Garrison Capital from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 19th. ValuEngine lowered shares of Garrison Capital from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. CIBC lowered shares of Garrison Capital from an “outperform” rating to a “market perform” rating in a report on Friday, May 12th. Finally, Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of Garrison Capital in a report on Friday, May 12th. Nine research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $10.13.
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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