Insider Buying: Garrison Capital Inc. (GARS) Director Acquires 3,000 Shares of Stock
Garrison Capital Inc. (NASDAQ:GARS) Director Cecil E. Martin, Jr. bought 3,000 shares of the stock in a transaction on Wednesday, September 13th. The shares were bought at an average cost of $8.23 per share, with a total value of $24,690.00. Following the purchase, the director now owns 4,500 shares of the company’s stock, valued at $37,035. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.
Garrison Capital Inc. (NASDAQ:GARS) traded up 1.08% on Friday, hitting $8.45. 42,928 shares of the stock traded hands. Garrison Capital Inc. has a 12-month low of $7.77 and a 12-month high of $10.54. The firm’s 50-day moving average price is $8.28 and its 200-day moving average price is $8.89.
Garrison Capital (NASDAQ:GARS) last posted its quarterly earnings data on Tuesday, August 8th. The investment management company reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.02. Garrison Capital had a negative net margin of 0.38% and a positive return on equity of 8.33%. The company had revenue of $9.03 million during the quarter, compared to the consensus estimate of $9.08 million. On average, equities analysts expect that Garrison Capital Inc. will post $1.11 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 13.25%. The ex-dividend date of this dividend is Thursday, September 7th.
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Several large investors have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Garrison Capital during the 2nd quarter worth about $178,000. Goldman Sachs Group Inc. purchased a new stake in shares of Garrison Capital during the 2nd quarter worth about $129,000. Caxton Corp grew its holdings in shares of Garrison Capital by 4.0% during the 2nd quarter. Caxton Corp now owns 68,702 shares of the investment management company’s stock worth $567,000 after purchasing an additional 2,629 shares during the period. Stephens Inc. AR grew its holdings in shares of Garrison Capital by 40.1% during the 2nd quarter. Stephens Inc. AR now owns 30,274 shares of the investment management company’s stock worth $250,000 after purchasing an additional 8,667 shares during the period. Finally, AJO LP purchased a new stake in shares of Garrison Capital during the 2nd quarter worth about $816,000. Institutional investors and hedge funds own 22.03% of the company’s stock.
Several research analysts have weighed in on GARS shares. ValuEngine lowered shares of Garrison Capital from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research raised shares of Garrison Capital from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, National Securities reaffirmed a “neutral” rating and set a $10.00 target price on shares of Garrison Capital in a research note on Monday, August 14th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $9.94.
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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