Garrison Capital Inc. (GARS) Receives Average Rating of “Hold” from Analysts
Shares of Garrison Capital Inc. (NASDAQ:GARS) have been assigned an average rating of “Hold” from the eight ratings firms that are currently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $10.17.
A number of research analysts recently commented on the company. Zacks Investment Research cut Garrison Capital from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 16th. ValuEngine raised Garrison Capital from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, National Securities reissued a “neutral” rating and set a $10.00 target price on shares of Garrison Capital in a research report on Monday, August 14th.
Shares of Garrison Capital (GARS) opened at 8.32 on Wednesday. The firm’s 50-day moving average is $8.43 and its 200 day moving average is $8.57. Garrison Capital has a 12-month low of $7.77 and a 12-month high of $10.15.
Garrison Capital (NASDAQ:GARS) last posted its quarterly earnings data on Tuesday, August 8th. The investment management company reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.02. Garrison Capital had a positive return on equity of 8.33% and a negative net margin of 0.38%. The firm had revenue of $9.03 million for the quarter, compared to analysts’ expectations of $9.08 million. On average, equities analysts predict that Garrison Capital will post $1.10 EPS for the current fiscal year.
In other news, CFO Brian S. Chase acquired 4,000 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were acquired at an average cost of $8.07 per share, with a total value of $32,280.00. Following the completion of the acquisition, 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 SEC, which is available at the SEC website. Insiders bought 8,000 shares of company stock worth $65,190 over the last three months. Corporate insiders own 5.80% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. acquired a new stake in Garrison Capital in the second quarter valued at approximately $129,000. Alpine Woods Capital Investors LLC lifted its position in shares of Garrison Capital by 81.8% in the second quarter. Alpine Woods Capital Investors LLC now owns 20,000 shares of the investment management company’s stock valued at $165,000 after acquiring an additional 9,000 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Garrison Capital in the second quarter valued at approximately $178,000. Stephens Inc. AR lifted its position in shares of Garrison Capital by 40.1% in the second quarter. Stephens Inc. AR now owns 30,274 shares of the investment management company’s stock valued at $250,000 after acquiring an additional 8,667 shares in the last quarter. Finally, Oppenheimer & Co. Inc. lifted its position in shares of Garrison Capital by 35.6% in the second quarter. Oppenheimer & Co. Inc. now owns 53,727 shares of the investment management company’s stock valued at $444,000 after acquiring an additional 14,093 shares in the last quarter. 21.60% of the stock is currently owned by hedge funds and other institutional investors.
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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