Virtus ETF Advisers LLC bought a new position in Garrison Capital Inc (NASDAQ:GARS) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 274,707 shares of the investment management company’s stock, valued at approximately $1,895,000. Virtus ETF Advisers LLC owned about 1.71% of Garrison Capital at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of GARS. FNY Investment Advisers LLC purchased a new position in shares of Garrison Capital during the 2nd quarter valued at about $80,000. JPMorgan Chase & Co. raised its stake in shares of Garrison Capital by 10.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 26,075 shares of the investment management company’s stock valued at $180,000 after buying an additional 2,400 shares during the last quarter. Clear Harbor Asset Management LLC raised its stake in shares of Garrison Capital by 39.5% during the 2nd quarter. Clear Harbor Asset Management LLC now owns 129,014 shares of the investment management company’s stock valued at $890,000 after buying an additional 36,558 shares during the last quarter. Finally, Stilwell Value LLC raised its stake in shares of Garrison Capital by 98.5% during the 2nd quarter. Stilwell Value LLC now owns 286,184 shares of the investment management company’s stock valued at $1,975,000 after buying an additional 142,005 shares during the last quarter. Institutional investors own 27.53% of the company’s stock.
Shares of NASDAQ GARS traded down $0.03 during trading on Friday, reaching $6.91. 68 shares of the company traded hands, compared to its average volume of 35,695. The firm’s fifty day simple moving average is $7.00 and its 200 day simple moving average is $7.08. The stock has a market cap of $111.23 million, a P/E ratio of 6.83 and a beta of 0.57. Garrison Capital Inc has a 12-month low of $6.03 and a 12-month high of $8.45. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 2.10.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 13.31%. The ex-dividend date is Thursday, September 5th. Garrison Capital’s dividend payout ratio (DPR) is presently 91.09%.
A number of equities analysts have weighed in on GARS shares. Zacks Investment Research upgraded Garrison Capital from a “hold” rating to a “buy” rating and set a $7.75 price objective for the company in a research note on Thursday, August 15th. ValuEngine upgraded Garrison Capital from a “sell” rating to a “hold” rating in a research note on Wednesday, September 4th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Garrison Capital presently has an average rating of “Buy” and a consensus price target of $9.25.
Garrison Capital Profile
Garrison Capital Inc is a business development company specializing in investments primarily in the debt and equity of middle market companies. It seeks to invest in first lien senior secured loans, second lien senior secured loans, one-stop senior secured or unitranche loans, subordinated or mezzanine loans, unsecured consumer loans and to a lesser extent, selected equity co-investments in middle-market companies, warrants and minority equity securities in United States middle-market companies.
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