Garrison Capital Inc. (NASDAQ:GARS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.
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. “
GARS has been the subject of several other reports. ValuEngine downgraded Garrison Capital from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. National Securities reiterated a “neutral” rating and set a $10.00 price objective on shares of Garrison Capital in a research report on Monday, August 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $9.94.
Shares of Garrison Capital (NASDAQ GARS) traded down 0.35% during trading on Monday, hitting $8.49. The stock had a trading volume of 35,497 shares. Garrison Capital has a one year low of $7.77 and a one year high of $10.15. The firm’s 50-day moving average is $8.45 and its 200-day moving average is $8.67.
Garrison Capital (NASDAQ:GARS) last issued its earnings results 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. 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 year.
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In other Garrison Capital news, CFO Brian S. Chase acquired 4,000 shares of Garrison Capital stock in a transaction dated Friday, August 11th. The stock was acquired at an average cost of $8.07 per share, for a total transaction of $32,280.00. Following the completion of the transaction, the chief financial officer now owns 46,135 shares in the company, valued at approximately $372,309.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have bought 8,000 shares of company stock valued at $65,190. Insiders own 5.80% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. acquired a new position in shares of Garrison Capital during the second quarter worth approximately $129,000. Alpine Woods Capital Investors LLC raised its holdings in Garrison Capital by 81.8% during the second 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 in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Garrison Capital during the second quarter worth approximately $178,000. Stephens Inc. AR raised its holdings in Garrison Capital by 40.1% during the second 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 in the last quarter. Finally, Oppenheimer & Co. Inc. raised its holdings in Garrison Capital by 35.6% during the second 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 in the last quarter. Institutional investors and hedge funds own 22.03% of the company’s stock.
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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