Garrison Capital Inc. (NASDAQ:GARS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “Garrison Capital Inc. is an externally 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. It invests or provides direct lending in first lien senior secured loans, second lien senior secured loans, one-stop senior secured loans or unitranche loans, subordinated or mezzanine loans, unsecured consumer loans and to a lesser extent, selected equity co-investments in middle-market companies. The Company intends to generate risk-adjusted net returns by assembling a portfolio of investments. The Company’s investments include debt investments, preferred and minority equity investments (equity) of diversified companies and a portfolio of unsecured small balance consumer loans. “

Several other research firms also recently issued reports on GARS. ValuEngine downgraded Garrison Capital from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. National Securities reiterated a “neutral” rating and set a $10.00 price target on shares of Garrison Capital in a research note on Monday, August 14th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $10.00.

Shares of Garrison Capital (NASDAQ GARS) traded up 0.48% during midday trading on Wednesday, hitting $8.42. The company had a trading volume of 16,749 shares. The company’s 50 day moving average is $8.43 and its 200 day moving average is $8.61. Garrison Capital has a one year low of $7.77 and a one year high of $10.15.

Garrison Capital (NASDAQ:GARS) last released its quarterly earnings results on Tuesday, August 8th. The investment management company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.02. The company had revenue of $9.03 million during the quarter, compared to the consensus estimate of $9.08 million. Garrison Capital had a positive return on equity of 8.33% and a negative net margin of 0.38%. Equities research analysts forecast that Garrison Capital will post $1.10 earnings per share for the current fiscal year.

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In other Garrison Capital news, CFO Brian S. Chase acquired 4,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average price of $8.07 per share, with a total value of $32,280.00. Following the transaction, the chief financial officer now owns 46,135 shares of the company’s stock, valued at $372,309.45. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have purchased a total of 8,000 shares of company stock valued at $65,190 in the last three months. 5.80% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Caxton Corp lifted its position 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 last quarter. Stephens Inc. AR lifted its position 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 last quarter. Alpine Woods Capital Investors LLC lifted its position in shares of Garrison Capital by 81.8% during the 2nd quarter. Alpine Woods Capital Investors LLC now owns 20,000 shares of the investment management company’s stock worth $165,000 after purchasing an additional 9,000 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of Garrison Capital by 35.6% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 53,727 shares of the investment management company’s stock worth $444,000 after purchasing an additional 14,093 shares during the last quarter. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Garrison Capital during the 2nd quarter worth about $129,000. 21.97% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Garrison Capital (NASDAQ:GARS)

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